February 24, 2009 / 9:41 PM / in 9 years

UPDATE 1-Aastra profit drops on writedown, restructuring

TORONTO, Feb 24 (Reuters) - Aastra Technologies AAH.TO posted a drop in quarterly profit on Tuesday as a goodwill writedown and restructuring charges by the business communications company ate into results.

Profit dropped to C$1.5 million, or 10 Canadian cents per share, in the three months ended Dec 31 from C$12.3 million, or 75 Canadian cents, in the same period a year earlier.

Revenue jumped to C$261.8 million from C$155.2 million, thanks in part to its purchase of Ericsson’s ERIC.O enterprise communications business last year.

Concord, Ontario-based Aastra took non-cash writedowns of C$14.1 million in the latest quarter and recorded C$11.3 million in restructuring costs.

Aastra released its results after markets closed. During the day, its shares fell 16 Canadian cents to C$9.38 on the Toronto Stock Exchange.

$1=$1.24 Canadian Reporting by Wojtek Dabrowski; Editing by Frank McGurty

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