March 31, 2011 / 9:02 PM / in 7 years

UPDATE 2-Exfo sees Q3 below Street; shares slide

* Sees Q3 sales $67-$72 mln vs est $73.2 mln

* Sees Q3 EPS $0.01-$0.05 vs est EPS $0.11

* Q2 EPS $0.03 vs $0.02 year ago

* Q2 sales $72 mln vs est $73.2 mln

* Shares down 10 pct after-mkt (Adds details; Updates share)

March 31 (Reuters) - Exfo Inc posted quarterly results below market estimates, and forecast lower-than-expected third-quarter results, following a sequential decline in bookings.

The Canadian telecom service provider’s U.S.-listed shares fell about 10 percent to $9.87 in after-market trade.

“Our backlog is now at a more manageable level in our typically strong third quarter,” Chief Executive Germain Lamonde said in a statement.

The company expects to earn 1-5 cents a share in the third quarter, on revenue of about $67-$72 million.

Analysts, on average, were expecting a profit of 11 cents a share on revenue of $73.2 million, according to Thomson Reuters I/B/E/S.

Second-quarter bookings were down about 36 percent at $57.6 million compared with $89.8 million in the first quarter.

Income rose slightly to $1.7 million, or 3 cents a share, from $1.2 million, or 2 cents a share, a year ago, while sales from continuing operations rose about 50 percent to $72 million.

Excluding items, Exfo earned 8 cents a share, compared with analysts’ estimates of 11 cents a share. (Reporting by Gowri Jayakumar in Bangalore; Editing by Joyjeet Das)

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