May 25, 2011 / 8:41 PM / in 7 years

UPDATE 1-Churchill Corp's Q1 profit slips on slow winter, declares Q2 div

* Q1 EPS C$0.24 vs est C$0.33

* Q1 rev up 67 pct to C$304.7 mln

* Declares Q2 dividend of C$0.12

May 25 (Reuters) - Canadian construction company Churchill Corp posted quarterly profit that missed analysts’ estimates, hurt by lower construction activity in the winter, and declared its first common share dividend.

Churchill, which has five subsidiaries providing commercial and industrial construction, industrial insulation and electrical work and maintenance services across western Canada, declared a 12 Canadian cents per share dividend.

First-quarter net income was C$5.8 million ($5.9 million), or 24 Canadian cents per share, compared with C$8.3 million, or 45 Canadian cents per share, a year earlier.

Contract revenue rose 67 percent to C$304.7 million. Backlog was C$1.57 billion as of March 31.

Analysts, on average, expected earnings of 33 Canadian cents per share on revenue of C$342.6 million, according to Thomson Reuters I/B/E/S.

Shares of the Calgary, Alberta-based company closed at C$19.51 on Wednesday on the Toronto Stock Exchange. ($1 = 0.976 Canadian Dollars) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Joyjeet Das)

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