April 20, 2009 / 9:39 PM / in 9 years

UPDATE 1-Hammond Power Q1 profit falls on higher expenses

* Q1 EPS C$0.36 vs C$0.43 last year

* Sales up 13 pct to C$54.8 mln

April 20 (Reuters) - Canadian transformer maker Hammond Power Solutions Inc HPSa.TO posted a lower quarterly profit, hurt by higher expenses.

For the first quarter ended March 28, the company reported net earnings of C$4.2 million, or 36 Canadian cents, compared with C$5.1 million, or 43 Canadian cents, a year ago.

The company said its total selling, general and administrative expenses increased 13 percent to C$9.3 million.

“The increase in expenses was primarily due to the conversion of U.S. selling, general and administrative expenses translated with a stronger U.S. dollar as compared to a year ago,” the company said in a statement. (Reporting by Ashutosh Joshi in Bangalore; Editing by Anne Pallivathuckal)

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