February 25, 2011 / 3:12 PM / 7 years ago

UPDATE 1-Wajax Q4 profit lags estimates

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Feb 25 (Reuters) - Canada’s Wajax Corp , a distributor of mobile equipment, posted a higher fourth-quarter profit but missed estimates hurt by higher expenses.

For the October-December quarter, the company earned C$15 million, or 89 Canadian cents a unit, up from C$8.3 million, or 50 Canadian cents a unit, a year ago.

Revenue for Toronto-based Wajax, which also distributes industrial component and power systems, jumped 22 percent to C$316.6 million.

Analysts, on average, had forecast earnings of 95 Canadian cents a share on revenue of C$283.9 million, according to Thomson Reuters I/B/E/S.

Selling and administrative expenses rose 21 percent to C$49.5 million.

Toronto-based Wajax shares were trading down 27 Canadian cents at C$37.53 on Thursday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Joyjeet Das)

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