July 30, 2009 / 11:40 AM / 8 years ago

CORRECTED - CORRECTED-UPDATE 1-Bridgewater posts higher Q2 profit, raises FY

(Corrects Reuters Estimates to C$13.3 mln from C$16.1 mln in paragraph 5)

* Q2 EPS C$0.17 vs C$0.05 last year

* Revenue up 36 pct

* Raises FY revenue, earnings outlook

July 30 (Reuters) - Canada’s Bridgewater Systems Corp BWC.TO posted higher quarterly profit, driven in part by new orders for its WideSpan system, and raised its full-year revenue and earnings forecast.

The company, which provides mobile personalization services to telecom operators, said second-quarter results were also helped by “momentum in the WiMAX market and continued strength in our core markets.”

For the second quarter, Bridgewater earned C$4.1 million ($3.8 million), or 17 Canadian cents a share, compared with C$1.3 million, or 5 Canadian cents a share, in the year-ago period.

Quarterly revenue rose 36 percent to C$16.1 million.

Analysts on average were expecting earnings of 7 Canadian cents a share, on revenue of C$13.3 million for the quarter, according to Reuters Estimates.

Bridgewater now expects full-year earnings between C$8 million and C$10 million, on revenue of C$58 million to C$62 million.

The company’s prior expectations were earnings between C$7 million and C$9 million, on revenue of C$54 million to C$58 million.

Shares of the Ottawa-based company were up closed at C$6.10 Wednesday on the Toronto Stock Exchange. ($1=1.087 Canadian Dollar) (Reporting by Isheeta Sanghi in Bangalore; Editing by Ratul Ray Chaudhuri)

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