November 12, 2009 / 2:44 PM / in 8 years

UPDATE 1-Wesdome Q3 profit up 63 pct

* Q3 EPS C$0.04 vs C$0.02 a yr ago

* Says on-course to exceed full yr production outlook

Nov 12 (Reuters) - Wesdome Gold Mines Ltd WDO.TO reported a 63 percent jump in third-quarter profit, helped by increased production and stronger gold prices.

The company also said it would “easily exceed” its annual production outlook of 90,000 ounces of gold, while revenue for the full year could exceed C$100 million.

Wesdome said net income was C$3.6 million ($3.45 million), or 4 Canadian cents a shares, compared with a net income of C$2.2 million, or 2 Canadian cents a share, a year ago.

Revenue fell 3 percent to C$21.5 million.

Analysts on average were expecting earnings of 5 Canadian cents, according to Thomson Reuters I/B/E/S.

Shares of Wesdome, which have gained more than 37 percent in the last three months, rose 2 Canadian cents to C$2.42 Thursday morning on the Toronto Stock Exchange.

$1=1.045 Canadian Dollar Reporting by Amit Kumar in Bangalore; Editing by Ratul Ray Chaudhuri

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