October 1, 2009 / 3:24 PM / 8 years ago

UPDATE 1-Richelieu results slip as recession lingers

* EPS C$0.40 vs consensus C$0.38

* Revenue falls 2.1 percent to C$109.4 mln

* Shares off 0.4 percent at C$19.41 (Adds details)

TORONTO, Oct 1 (Reuters) - Richelieu Hardware Ltd (RCH.TO) reported a lower quarterly profit on Thursday as the recessionary slowdown in residential and commercial renovation markets hurt the results of the specialty hardware distributor.

The Montreal-based company, which also makes kitchen cabinets and doors, said it earned C$8.9 million ($8.3 million), or 40 Canadian cents a share, in the third quarter ended Aug. 31, down from C$9.6 million, or 42 Canadian cents a share, in the same period last year.

    Revenue dropped 2.1 percent to C$109.4 million.

    Analysts were expecting, on average, earnings of 38 Canadian cents a share and revenue of C$109 million, according to Reuters Estimates.

    Shares in Richelieu, which have risen 26 percent since the start of the year, were off 0.4 percent at C$19.41 on the Toronto Stock Exchange on Thursday morning.

    $1=$1.07 Canadian Reporting by Scott Anderson; editing by Peter Galloway

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below