November 10, 2009 / 3:40 PM / 8 years ago

UPDATE 1-Computer Modelling Group Q2 profit falls 19 percent

* Q2 EPS C$0.13 vs C$0.17 a yr-ago

* Profit falls 19 pct, rev down 5 pct

* Shares fall 6 pct in morning trade

Nov 10 (Reuters) - Canada’s Computer Modelling Group Ltd CMG.TO said second-quarter earnings fell 19 percent, hurt by lower software license sales.

The company earned C$2.4 million ($2.27 million), or 13 Canadian cents a share, down from C$2.9 million, or 17 Canadian cents a share, a year ago.

Computer Modelling Group, which is a computer software technology and consulting company serving the oil and gas industry, said revenue fell 5 percent to C$9.1 million.

Software license revenue, which provide the majority of the company’s revenue, fell 5 percent to C$7.8 million. Revenue from perpetual software licenses fell 80 percent to C$582,000.

Analysts on average were expecting earnings of 20 Canadian cents a share on revenue of C$10.7 million, according to Thomson Reuters I/B/E/S.

Shares of the Calgary, Alberta-based company fell 6 percent to C$14.76 in early morning trade Tuesday on the Toronto Stock Exchange. ($1=1.057 Canadian Dollar) (Reporting by Amit Kumar in Bangalore; Editing by Ratul Ray Chaudhuri)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below