May 3, 2011 / 9:10 PM / 7 years ago

UPDATE 1-Macdonald Dettwiler Q1 profit up on gain from asset sale

* Q1 EPS C$2.05 vs C$0.69 year ago

* Q1 revenue up 36 pct at C$206.5 mln

* After-tax gain of C$56.2 mln from property information biz sale (Follows alerts)

May 3 (Reuters) - Canadian satellite and data distribution company Macdonald Dettwiler and Associates’ (MDA) first-quarter earnings rose three-fold, helped by an after-tax gain on the sale of its property information business.

January-March earnings were C$84.4 million, or C$2.05 a share, up from last year’s C$28.1 million, or 69 Canadian cents a share.

MDA posted a 36 percent rise in revenue at C$206.5 million.

The company, famous for creating the robotic arm used on NASA space shuttles, recorded an after-tax gain of about C$56.2 million in January, on the sale of its property information business.

Analysts on average, had expected earnings of 56 Canadian cents, on revenue of C$182.8 million, according to Thomson Reuters I/B/E/S.

Shares of the Richmond, British Columbia-based company closed at C$57.60 on Tuesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Prem Udayabhanu)

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