August 3, 2011 / 10:14 PM / 6 years ago

UPDATE 1-Constellation Software Q2 profit beats view

* Q2 adj EPS $1.58 est $1.27

* Q2 rev up 27 pct to $195 mln

* Sees FY rev $755-$775 mln

* Sees FY adj EBITDA $155-$170 mln (Follows alerts)

Aug 3 (Reuters) - Constellation Software’s second-quarter profit beat estimates, helped by an income tax recovery and a 28 percent uptick in revenue from the public sector.

For 2011, Constellation expects revenue of $755-$775 million and adjusted earnings before income tax, depreciation and amortization of $155-$170 million.

April-June net income rose to $59 million, of $2.77 per share, from $2 million, or 11 cents per share, a year ago.

Revenue rose 27 percent to $195 million. Revenue from the public sector segment rose 28 percent to $146 million.

Adjusted earnings per share for the quarter was $1.58, up from 93 cents in the year ago quarter.

Analysts on average were expecting earnings of $1.27 on revenue of $181.4 million, according to Thomson Reuters I/B/E/S.

The company attributed the rise in net income to a $44 million income tax recovery.

Shares of the Toronto-based company closed at C$70.51 on Wednesday on the Toronto Stock Exchange. (Reporting by Abhiram Nandakumar in Bangalore)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below