March 28, 2011 / 11:56 AM / 7 years ago

UPDATE 1-CVTech posts Q4 profit on energy segment strength

* Q4 EPS C$0.04 vs breakeven yr ago

* Revenue rises 14 pct (Follows alert)

March 28 (Reuters) - CVTech Group Inc , a Canadian electrical services provider, reported a fourth-quarter profit, helped mainly by strength at its energy segment.

The company, which provides services to the electric power industry for maintenance of transmission and distribution lines mainly in Quebec and eastern United States, said governments are increasingly seeking to raise the proportion of their energy requirements supplied from renewable sources.

For the quarter, it earned C$3.0 million, or 4 Canadian cents a share, compared with a net loss of C$25,000, or breakeven on a per-share basis, a year ago.

Revenue rose 14 percent to C$69.7 million.

Drummondville, Quebec-based CVTech’s shares closed at C$1.32 on Friday on the Toronto Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Maju Samuel)

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