February 19, 2009 / 11:17 PM / 9 years ago

UPDATE 1-Miranda Q4 profit tops Street view

* Q4 EPS C$0.31, tops estimates

* Revenue up 3 pct

* Plans cost-control measures

Feb 19 (Reuters) - Broadcast equipment maker Miranda Technologies Inc MT.TO reported a more than two-fold jump in fourth-quarter profit, topping market estimates, as it managed its expenses better.

Miranda reported a net income of C$7.4 million ($5.89 million), or 31 Canadian cents a share, compared with C$3.3 million, or 13 Canadian cents a share, a year ago.

Revenue rose to C$32.7 million, driven largely by strength in international markets outside of North America.

Analysts expected the company to earn 26 Canadian cents a share, before items, on revenue of $35.1 million, according to Reuters Estimates.

Operating expenses dropped about 16 percent in the quarter. The company said it plans to take necessary steps to control costs and preserve cash flows going forward.

Miranda also said it entered into a shareholder rights plan, setting a trigger of 20 percent.

Miranda shares, which have lost more than 30 percent of their value over the last one year, closed down 7 Canadian cents at C$6.64 Thursday on the Toronto Stock Exchange. ($1=1.256 Canadian Dollar) (Reporting by Krishna Chaithanya in Bangalore; Editing by Himani Sarkar)

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