November 4, 2009 / 11:43 PM / 9 years ago

UPDATE 1-RuggedCom Q2 profit trails market view

* Q2 EPS $0.08 vs $0.17 est

* Revenue up 16 pct to $16.7 mln

* Customer purchase orders up 11 pct

Nov 4 (Reuters) - Canadian communications equipment maker RuggedCom Inc RCM.TO reported a lower-than-expected quarterly profit, hurt by a strong Canadian dollar and higher operating expenses.

For the second quarter ended Sept. 30, the company earned $1.0 million, or 8 cents a share, down from $3.2 million, or 26 cents a share, last year.

Total revenue rose 16 percent to $16.7 million, primarily driven by increased sales in the electric power market, which comprised 65 percent of the company’s total revenue.

The company said there was a negative foreign exchange impact of $1.4 million, due to the strengthening of Canadian dollar relative to the US dollar.

RuggedCom said the results also included a $0.2 million loss from its recent WiNetworks acquisition.

Customer purchase orders rose 11 percent to $18.9 million.

RuggedCom shares, which have shed more than 14 percent of their value in the past month, closed at C$17.90 Wednesday on the Toronto Stock Exchange.

For the Reuters’ preview on the company’s results please click on [ID:nBNG98287] (Reporting by Krishna Chaithanya in Bangalore; Editing by Pradeep Kurup)

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