February 16, 2010 / 10:28 PM / 8 years ago

UPDATE 1-Aastra Technologies quarterly profit surges

* Q4 EPS C$1.09 vs year-earlier C$0.10

* Analysts’ forecast C$1.01

* Revenue down 16.8 pct at C$217.8 mln (Adds details)

VANCOUVER , Feb 16 (Reuters) - Aastra Technologies Ltd AAH.TO posted a tenfold increase in quarterly profit on Tuesday, though its revenues dipped, as the business communications company kept a lid on expenses and cut its spending on research and development.

Aastra said it earned C$15.3 million ($14.7 million), or C$1.01 a share, in the three months ended Dec. 31. That was up from a profit of C$1.5 million, or 10 Canadian cents a share, a year earlier.

Revenue fell 16.8 percent to C$217.8 million.

Analysts had expected the company to earn C$1.01 a share on revenue of C$220.2 million, according to Thomson Reuters I/B/E/S.

The Concord, Ontario-based company said its gross margin dipped slightly to 45 percent of sales in the fourth quarter from 47 percent a year earlier.

Its selling, general and administrative expenses fell to C$51.6 million from C$67.9 million the year before. Research and development expenses dropped to C$19.2 million from C$27.7 million a year earlier.

The company reported results after markets closed. Its shares rose 32 Canadian cents to C$32.65 on the Toronto Stock Exchange on Tuesday.

$1=$1.04 Canadian Reporting by Nicole Mordant; editing by Peter Galloway

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