June 1, 2011 / 10:21 AM / in 7 years

UPDATE 1-Miranda Technologies posts Q1 profit

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June 1 (Reuters) - Miranda Technologies Inc , which provides technology for the television broadcast industry, posted a first-quarter profit helped by a recovery in the broadcast markets.

For the first quarter, the company reported a net income of C$2.3 million or 11 Canadian cents per share, compared with a loss of C$1.6 million, or 7 Canadian cents per share, a year ago.

Revenue for the quarter rose 37 percent to C$39.8 million.

Shares of the Montreal-based company closed at C$7.50 on Tuesday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Roshni Menon)

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