June 25, 2009 / 10:14 PM / 9 years ago

UPDATE 1-Mosaid Technologies Q4 profit tops estimates

* Q4 pro forma EPS C$0.75 vs est C$0.68

* Revenue up 6 pct to C$18 mln

* Sees Q1, FY10 pro forma EPS below estimates

June 25 (Reuters) - Canada’s Mosaid Technologies MSD.TO posted better-than-expected fourth-quarter profit on strong patent licensing revenue, but forecast first-quarter and fiscal 2010 earnings below analysts’ estimates.

For the fourth quarter ended April 30, Mosaid earned C$5.6 million ($4.84 million), or 55 Canadian cents a share, compared with C$5.4 million, or 50 Canadian cents a share, in the prior year quarter.

Excluding items, the Ottawa, Ontario-based intellectual property firm earned C$7.7 million, or 75 Canadian cents per share. Revenue rose 6 percent to C$18 million.

Analysts on average were expecting earnings of 68 Canadian cents a share, on revenue of C$17.2 million, according to Reuters Estimates.

Mosaid expects first-quarter pro forma income of 55 Canadian cents to 57 Canadian cents per share, on revenue of C$15 million to C$16 million. Analysts expect earnings of 60 Canadian cents per share, on revenue of C$15.8 million.

For fiscal 2010, Mosaid projected pro forma income of C$2.07 to C$2.17 per share, on revenue of C$65 million to $67 million. Analysts expect earnings of C$2.30 per share, on revenue of C$61.22 million.

Mosaid Technologies shares closed at C$15.25 Thursday on the Toronto Stock Exchange. ($1=1.157 Canadian dollar) (Reporting by R. Manikandan in Bangalore; Editing by Ratul Ray Chaudhuri)

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