October 11, 2011 / 9:35 PM / 6 years ago

UPDATE 1-EXFO quarterly profit falls 62 pct; shares drop

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Oct 11 (Reuters) - Canadian telecom services provider EXFO Inc posted a 62 percent fall in quarterly profit and said it expected to post lower first-quarter earnings.

U.S.-listed shares of the Quebec-based company were down 5 percent at $5.73 in extended trading on Tuesday. They closed at $6.01 on Nasdaq.

For the September-November quarter, EXFO expects a profit of 1-5 cents a share on sales of $65-$70 million.

It reported a profit of 23 cents a share and sales of $67.6 million in the same quarter last year.

The company’s fourth-quarter net income was $1.9 million, or 3 cents a share, compared with $5 million, or 8 cents a share, a year ago.

Sales from continuing operations rose 10 percent to $64.4 million. (Reporting by Ankur Banerjee in Bangalore; Editing by Maju Samuel)

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