March 13, 2009 / 7:00 PM / 9 years ago

UPDATE 1-Vector Aero earnings more than double

* Revenue up 71 C$141.4 million

TORONTO, March 13 (Reuters) - Quarterly profits more than doubled at Vector Aero RNO.TO as it benefited from a reduction in expenses related to its purchase of a British military helicopter repair company over a year ago.

The aviation repair company said it earned C$6.5 million ($5.1 million), or 17 Canadian cents a share, for the fourth quarter, up from C$3.1 million, or 8 Canadian cent, a year earlier.

Two analysts had expected it to earn 18 Canadian cents a share, on average, according to Reuters Estimates.

Vector said its results were helped by a pension expense reduction of C$4 million primarily related to the British defined benefit pension plan of Defence Aviation and Repair Agency, which in bought in February of 2008.

Revenue from continuing operations was up 70 percent at C$141.4 million.

Vector has operating facilities in Canada, Britain and Africa. The company services both commercial and military markets.

The lightly traded shares of Vector were down 5 Canadian cents, or 1.2 percent, at C$4.20 on the Toronto Stock Exchange. ($1=$1.28 Canadian) (Reporting by John McCrank; Editing by Frank McGurty)

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