November 2, 2011 / 9:35 PM / in 6 years

UPDATE 1-Constellation Software Q3 tops market

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Nov 2 (Reuters) - Constellation Software’s third-quarter profit topped market expectations, as higher sales at both its public and private sector units and acquisitions boosted results at the Canadian software maker.

The company forecast gross revenue of $765-$775 million and adjusted EBITDA of $160-$170 million for the full year.

Analysts on an average are expecting full-year revenue of $765.8 million and EBITDA of $159.9 million, according to Thomson Reuters I/B/E/S.

July-September profit was $22 million, or $1.03 a share, compared with $9 million, or 41 cents a share, a year ago.

Adjusted net income was $1.87 a share, above analysts’ forecast of $1.47 a share on revenue of $196.3 million.

Quarterly revenue rose 24 percent to $202 million.

Constellation Software had said in April that it was reviewing strategic alternatives, which the software maker’s third-largest shareholder said could lead to a sale of the company.

Shares of the Toronto-based company closed at C$70 on Wednesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Roshni Menon)

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