August 9, 2011 / 9:04 PM / 6 years ago

UPDATE 1-Imris Q2 loss doubles on higher costs

* Q2 loss C$2.9 mln vs C$1.4 mln yr ago

* Rev rises 14 pct to C$18.9

* Operating costs up 14.6 pct to C$9.4 mln

* Sees lower gross profit for 2011 (Follows alerts)

Aug 9 (Reuters) - Imris Inc , which makes surgical imaging systems, posted wider quarterly loss on higher operating costs and said it expects gross profit to be lower this year.

Net loss widened to C$2.9 million, or 6 Canadian cents per share, compared with a loss of C$1.4 million, or 6 Canadian cents per share, a year ago.

Revenue for the quarter rose 14 percent to C$18.9 million.

Operating expenses rose 14.6 percent to C$9.4 million.

Imris said it expects gross profit to be lower this year as it spends more to launch new products.

It also said its order backlog for the quarter rose nearly 7 percent to C$97.5 million.

Shares of the company, which makes magnetic resonance imaging systems, closed at C$4.26 on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Gopakumar Warrier) ((maneesha.tiwari@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: maneesha.tiwari.thomsonsonreuters.com@reuters.net

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