February 28, 2011 / 9:28 PM / 7 years ago

UPDATE 2-Atrium Innovations Q4 rev misses Wall Street

* Q4 EPS $0.40 in line

* Q4 revenue drops 3 pct to $92.5 mln

* Names Carmen Fortino as president of North American operations (Adds details)

Feb 28 (Reuters) - Dietary supplement-maker Atrium Innovations’ quarterly revenue missed market estimates, hurt mostly by unfavorable exchange rates and lower sales in Germany.

The euro, which briefly went below $1.30 at the end of November, made a strong bounce back to around $1.3500, and has held on to that range since.

Fourth-quarter net income fell to $13.4 million, or 40 cents a share, from $13.8 million, or 42 cents a share, a year ago.

The health products maker, whose key markets are in North America and Europe, posted a 3 percent drop in revenue at $92.5 million.

Analysts on average expected the company to earn 40 cents a share, on revenue of $93.1 million, according to Thomson Reuters I/B/E/S.

The company appointed Carmen Fortino as president of its North American operations. Previously, he was CEO of Seroyal International Inc, which Atrium had acquired in December 2010.

Shares of the Quebec-based company have lost about 2 percent in value since reporting third-quarter results in November.

They closed at C$15.00 on Monday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Anne Pallivathuckal; Editing by Sriraj Kalluvila)

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