March 30, 2011 / 10:48 AM / 7 years ago

UPDATE 2-Strongco posts Q4 profit, shares up 11 pct

* Q4 EPS C$0.14 vs loss/shr C$0.20 last year

* Revenue surges 36 percent to C$91.8 mln

* Sees higher demand for heavy equipment in 2011

* Expects greater contribution from Alberta

* Shares touch 3-week high (Adds share movement)

March 30 (Reuters) - Canada’s Strongco Corp , which sells and rents equipment and machinery for residential and commercial construction, posted a quarterly profit on strong sales at its equipment segment and lower expenses.

Shares of the Mississauga, Ontario-based company rose 11 percent to a three-week high in morning trade on Wednesday.

The company expects higher demand for heavy equipment in 2011 and also said the economy in Alberta, which has continued to improve on strengthening oil prices, will contribute to the growth.

October-December income was 14 Canadian cents a share, compared with a loss of 20 Canadian cents a share a year ago.

Revenue was up nearly 36 percent to C$91.8 million, as sales from its biggest equipment segment rose 47 percent to C$62.1 million.

Administrative, distribution and selling expenses fell 7 percent to C$13.5 million, the company said in a statement.

Shares of the company, which converted into a corporation in July last year, were up 48 Canadian cents, or 11 percent, at C$4.86 on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Maju Samuel)

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