November 26, 2009 / 9:46 PM / in 8 years

UPDATE 1-Mosaid Technologies posts Q2 profit

* Q2 EPS C$0.49 vs yr-ago loss/shr C$0.33

* Rev up 26 pct

* Sees Q3 rev of C$16.5 mln to C$17.5 mln

Nov 26 (Reuters) - Patent licensing firm Mosaid Technologies Inc MSD.TO posted a quarterly profit on Thursday as the company was able to put a lid on its expenses.

For the second quarter ended Oct. 31, the company reported a net income of C$5 million, or 49 Canadian cents a share, compared with a loss of C$3.4 million, or 33 Canadian cents a share, a year earlier.

Revenue rose 26 percent to C$17.3 million.

Pro forma earnings were up 95 percent to C$8 million.

Analysts on average were expecting earnings of 59 Canadian cents a share, before special items, on revenue of C$16.4 million, according to Thomson Reuters I/B/E/S.

Operating expenses fell 46 percent to C$10.1 million.

The company expects third-quarter pro forma net income of C$5.7 million to C$6.4 million on revenue of C$16.5 million to C$17.5 million.

Shares of the Kanata, Ontario-based company closed at C$17.86 Thursday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Ratul Ray Chaudhuri) ((koustav.samanta@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: koustav.samanta.reuters.com@reuters.net))

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