September 3, 2009 / 12:38 PM / 8 years ago

UPDATE 1-Wi-LAN posts quarterly profit in line with estimates

2 Min Read

* Q3 adj EPS C$0.04 in line with est

* Revenue doubles to C$9.6 mln

Sept 3 (Reuters) - Technology licensing firm Wi-LAN Inc WIN.TO reported an adjusted quarterly profit in line with market estimates, helped by strong patent licensing revenue.

For the third quarter ended July 31, Wi-LAN posted a loss of C$1.3 million ($1.2 million), or 1 Canadian cent a share, compared with a loss of C$3.5 million, or 4 Canadian cents a share, a year ago.

Proforma earnings were 4 Canadian cents a share.

Quarterly revenue surged to C$9.6 million from C$4.8 million in the prior year.

Analysts, on average, were expecting the company to report earnings of 4 Canadian cents a share, excluding items, on revenue of C$9.8 million, according to Reuters Estimates.

For the full year, the company said it targets revenue of C$34 million to C$36 million, below analysts' expectations of revenue of C$36.6 million.

It earlier forecast revenue in the range of C$34 million to C$37 million.

Shares of Wi-LAN closed at C$2.32 Wednesday on the Toronto Stock Exchange.

$1=1.101 Canadian Dollar Reporting by R. Manikandan in Bangalore; Editing by Anne Pallivathuckal

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