June 11, 2009 / 3:22 PM / 8 years ago

UPDATE 1-20-20 Technologies posts Q1 profit

* Q2 EPS 0.03 vs breakeven

* Q2 revenue dips 31 pct

* Shares up 7 percent

June 11 (Reuters) - 20-20 Technologies Inc TWT.TO, a provider of 3D design and software solutions, posted a quarterly profit as it managed to keep a lid on expenses.

For the second quarter ended April 30, the company reported net income of $621,000, or 3 cents a share, compared with $37,000, or breakeven a share, a year earlier.

Revenue fell 31 percent to $15.2 million, while operating expenses dropped 40 percent.

Analysts were expecting earnings of 5 cents a share, before special items, on revenue of $18.9 million, according to Reuters Estimates.

Shares of the company rose 7 percent to $2.03 in morning trade on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Anil D'Silva)

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