Nov 3 (Reuters) - Digital whiteboard maker Smart Technologies’ quarterly results beat market expectations, as rising demand in global markets offset weak sales in North America.
The Calgary, Alberta-based company, which debuted on the Toronto Stock Exchange and Nasdaq in July last year, expects fiscal 2012 revenue to be flat or about 5 percent below 2011 levels, and forecast adjusted net income to be in line with 2011.
July-September net income was $600,000, or breakeven per share, compared with $44.6 million, or 38 cents a share, a year ago.
Adjusted earnings were 25 cents a share, compared with analysts’ estimates of 21 cents a share, according to Thomson Reuters I/B/E/S.
Revenue fell about 6 percent to $210.3 million, but came slightly above estimates of $209.1 million. (Reporting by Gowri Jayakumar in Bangalore; Editing by Sriraj Kalluvila)