March 9, 2011 / 10:41 PM / in 7 years

UPDATE 1-Points Int'l Q4 profit plunges; expects FY earnings jump

* Q4 EPS $0.02 vs $0.13 last year

* Rev up 63 percent

* Sees 2011 EPS $0.20-$0.40 (US dollar unless noted)

March 9 (Reuters) - Points International Ltd’s quarterly profit fell 83 percent, hurt by higher expenses, but the e-commerce and technology services provider expects a rise in 2011 earnings.

October-December profit fell to $323,000, or 2 cents a share, from $1.9 million, or 13 cents a share, last year.

The firm, whose partners include British Airways, Virgin Atlantic, StarBucks , said revenue rose 63 percent to $27 million.

Points International’s total cost jumped 71 percent.

The company, which operates the website points.com, sees its Loyalty Currency Services to fuel 2011 growth.

In this segment, the company distributes discount points to third parties to use as customer or employee incentive.

The company expects a 2011 profit of $3-$6 million, or $0.20-$0.40 a share, and backed its 2011 revenue and earnings before interest, tax, depreciation and amortization (EBITDA). .

The company posted a profit of $1.95 million in 2010.

Shares of the Toronto-based company closed at C$9.51 on Wednesday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Maju Samuel)

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