August 18, 2011 / 8:40 PM / in 7 years

UPDATE 1-Absolute Software posts Q4 profit

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Aug 18 (Reuters) - Absolute Software , which provides data protection services, posted a fourth-quarter net income helped by improved demand for its anti-theft product line, and forecast sales contracts in 2012 to grow above this year’s levels.

For April-June, Vancouver-based Absolute recorded a net income of C$500,000, or 1 Canadian cent a share, versus a loss of C$3.8 million, or 8 Canadian cents a share, a year ago.

Revenue rose 14 percent to C$18.9 million.

Analysts, on an average, had forecast quarterly adjusted loss of 2 Canadian cents a share, on revenue of C$18.5 million, according to Thomson Reuters I/B/E/S.

Shares of the company, which specializes in software and services to secure computers, closed at C$3.60 on Thursday on the Toronto Stock Exchange, (Reporting by Gowri Jayakumar in Bangalore; Editing by Sriraj Kalluvila)

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