November 30, 2009 / 2:36 PM / in 8 years

UPDATE 1-Exco Technologies swings to Q4 profit

* Q4 EPS C$0.01 vs loss of C$0.53/shr last year

* Results helped in part by improving sales environment

* Sales fall 25 pct

Nov 30 (Reuters) - Exco Technologies Ltd XTC.TO swung to a fourth-quarter profit, helped by an improving sales environment and cost cuts.

Exco -- a manufacturer of dies, moulds, and components for the die-cast, extrusion and automotive industries -- earned C$364,000 ($345,000), or 1 Canadian cent a share, compared with a net loss of C$21.2 million, or a loss of 52 Canadian cents a share, a year earlier.

The company, which operates across two segments -- casting and extrusion technology and automotive solutions, said sales fell 25 percent to C$37.7 million in the quarter ended Sept. 30.

Sales rose 33 percent sequentially and the trend points to a continuing recovery from low sales levels at the peak of the recession in the third quarter, Exco said.

Sales in its casting and extrusion segment was C$26 million in the quarter, compared with $26.9 million, a year ago.

Analysts on average had expected the company to earn 1 Canadian cent a share on revenue of C$35 million, according to Thomson Reuters I/B/E/S.

Shares of the company closed at C$2 Friday on the Toronto Stock Exchange. ($1=1.055 Canadian Dollar) (Reporting by Isheeta Sanghi in Bangalore; Editing by Aradhana Aravindan) ((isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net))

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