August 9, 2011 / 8:54 PM / 6 years ago

UPDATE 1-Smart Technologies reports higher Q1 earnings

* Q1 EPS $0.19 vs $0.03 year-ago

* Q1 rev falls 8 pct to $202.4 mln

* Sees FY12 rev flat to down 5 pct (Follows alerts)

Aug 9 (Reuters) - Smart Technologies’ first-quarter profit tripled, helped primarily by a 9 percent rise in average selling prices, but the Canadian digital whiteboard maker warned that a difficult macro environment for education funding could result in revenue being flat to down 5 percent in the fiscal.

The company, which debuted on the Toronto Stock Exchange and Nasdaq in July last year, posted first-quarter earnings of $23.0 million , or 19 cents per share, compared with $5.0 million, or 3 cents a share, a year ago.

Average selling price in the first quarter was $1,437 per unit, an increase of 9 percent compared with $1,315 per unit in the prior-year period.

Revenue fell 8 percent to $202.4 million.

Shares of the Calgary, Alberta-based company closed at C$4.74 on Tuesday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Maju Samuel)

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