May 3, 2012 / 12:22 PM / 6 years ago

Stella Jones profit beats estimates on railroad tie sales

(Reuters) - Stella Jones Inc (SJ.TO), which makes wood products for railroads and utilities, said quarterly profit beat estimates on strong railway tie sales and said it expects strong demand for its core products.

Net income for the first quarter rose to C$15.0 million ($15.17 million), or 94 Canadian cents per share, from C$8.5 million, or 53 Canadian cents per share, a year earlier.

Revenue rose nearly 22 percent to C$158.8 million. Railway tie sales rose 25 percent to C$96 million.

Analysts on average had expected earnings of 73 Canadian cents per share on revenue of C$154.2 million, according to Thomson Reuters I/B/E/S.

Shares of the Montreal-based company closed at C$46.75 on Wednesday on the Toronto Stock Exchange.

($1 = 0.9890 Canadian dollars)

Reporting by Abhiram Nandakumar in Bangalore; Editing by Don Sebastian

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