March 11, 2009 / 9:13 PM / 9 years ago

UPDATE 1-Pethealth posts Q4 loss on charges

* Q4 loss C$0.017/shr vs. EPS C$0.020 last year

* Results hit by C$1.1 mln charge

* Revenue up 54 pct to C$8.2 mln

* Pet insurance revenue rises 52 pct to C$6.5 mln

March 11 (Reuters) - Canadian pet insurance provider Pethealth Inc PTZ.TO reported a quarterly loss as a charge related to currency translation of debt offset the benefits of the weak Canadian dollar.

For the fourth quarter, the company posted a loss of C$0.5 million ($0.389 million), or 1.7 Canadian cents a share, compared with a profit of C$0.6 million, or 2 Canadian cents a share, in the year-earlier period.

Results for the latest quarter included charges of C$1.1 million related to the translation of U.S. dollar denominated debt and C$127,310 for amortization of intangible assets related to its Pet Protect acquisition.

Pethealth said that a 25 percent year-over-year decline of the Canadian dollar boosted quarterly revenue by C$1.0 million.

“While we do not claim our business to be recession-proof, we certainly believe that we are operating in a consumer space that is recession-resistant,” CEO Mark Warren said in a statement. ($1=1.284 Canadian dollar) (Reporting by R. Manikandan in Bangalore; Editing by Deepak Kannan)

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