March 27, 2009 / 3:29 PM / in 9 years

UPDATE 1-Canada's CVTech Q4 profit rises

* Q4 EPS C$0.08 v/s C$0.02 last year

* Revenue rises 27 pct C$39.6 mln

* Expects contract rev for ‘09 similar to C$100 mln in ‘08

March 27 (Reuters) - CVTech Group Inc CVT.TO, which makes continuously variable power transmission systems, posted higher fourth-quarter results, helped by a 31 percent rise in revenue at its electricity segment.

Net earnings rose to C$4.6 million from C$1.2 million a year earlier. Revenue at its electricity segment rose 31 percent to C$33.8 million.

The firm generated contract revenue of C$100 million in 2008 and it expects similar contract growth for the current year.

Shares of the company were flat at C$1.39 in morning trade on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Deepak Kannan) ((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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