November 3, 2011 / 8:50 PM / 7 years ago

UPDATE 1-Smart Technologies Q2 beats on overseas demand

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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)

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