February 14, 2011 / 2:06 PM / 7 years ago

UPDATE 1-IMRIS Q4 profit rises, sees strong orders in 2011

* Q4 EPS C$0.04 vs C$0.01 last year

* Q4 rev up 26 pct at C$25.2 mln

Feb 14 (Reuters) - IMRIS Inc , which makes surgical imaging systems, posted a four-fold increase in quarterly profit on higher system deliveries and said it sees improved capital spending in the U.S. healthcare sector this year.

The Winnipeg-based company, which had customer orders worth C$68 million in the second half of 2010, sees higher bookings for this year.

The company expects system orders in backlog to convert into revenue at a higher rate than in 2010. Its backlog stood at C$118.2 million, including C$87.4 million of system orders and C$30.8 million of service contracts, at Dec. 31, 2010.

For the quarter, the company posted net income of C$1.7 million, or 4 Canadian cents a share, up from C$418,000, or 1 Canadian cent a share, a year ago.

Sales rose 26 percent to $25.2 million.

Analysts on average were expecting earnings of 2 Canadian cents a share, according to Thomson Reuters I/B/E/S.

Shares of the company closed at C$8.01 on Friday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Anne Pallivathuckal)

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