February 1, 2012 / 11:34 PM / 6 years ago

UPDATE 1-RealD posts surprise Q3 profit, shares rise

* Q3 EPS $0.05 vs est loss/shr $0.05

* Q3 revenue $49 mln vs est $42.2 mln

* Shares up 10 pct in extended trading

Feb 1 (Reuters) - RealD Inc, a licensor of 3D technologies posted a surprise profit, as gross margins improved dramatically in the third quarter, sending its shares up 10 percent after hours.

Third-quarter net profit was $2.8 million, or 5 cents a share, compared with a net loss of $16.6 million, or 34 cents per share, a year ago.

Gross margins jumped to 49 percent from 11 percent.

Revenue for RealD -- which also competes with Imax Corp , Dolby Laboratories Inc and privately owned Masterimage 3D -- fell 15 percent to $49 million.

Product and other revenue fell 47 percent, partly hurt by more movie goers reusing the RealD eyewear.

Analysts, on average, expected a third-quarter loss of 5 cents per share on revenue of $42.2 million, according to Thomson Reuters I/B/E/S.

Shares of the company rose to $10.70 in extended trading. They closed at $9.74 on Wednesday on the New York Stock Exchange. (Reporting by Sayantani Ghosh in Bangalore; Editing by Sriraj Kalluvila)

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