May 3, 2011 / 8:40 PM / 6 years ago

UPDATE 1-Points International reports Q1 loss

* Q1 loss/shr $0.01 vs EPS $0.03 year-ago

* Q1 rev up 21 pct at $28.5 mln

* Sees FY11 rev $120-$130 mln

* Sees FY11 net income $3-$6 mln, EPS $0.20-$0.40 (Follows alerts)

MAY 3 - E-commerce and technology services provider Points International Ltd’s reported a first-quarter loss, hurt by higher expenses.

The company forecast full-year revenue of $120-$130 million and net income of $3-$6 million, or 20-40 cents per share.

January-March net loss was $189,000 or 1 cent a share, compared with a profit of $443,000, or 3 cents a share, a year ago.

The firm, whose partners include British Airways, Virgin Atlantic and StarBucks , said revenue rose 21 percent to $28.5 million.

Total expenses rose 22 percent to $28.5 million, while operating expenses rose 33 percent to $1.1 million.

Shares of the Toronto-based company closed at C$9.62 on Tuesday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore;Editing by Vyas Mohan)

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