July 27, 2009 / 9:13 PM / 8 years ago

UPDATE 1-Aastra posts higher profit, despite sales slump

* Aastra Q2 EPS C$0.40 vs C$0.13

* Sales fall 4.2 percent in quarter

TORONTO, July 27 (Reuters) - Business communications company Aastra Technologies AAH.TO posted a higher quarterly profit on Monday as costs fell, but said sales dropped because of the slumping economy.

Aastra said it earned C$5.5 million ($5.1 million), or 40 Canadian cents a share, in the second quarter, ended June 30, up from C$2.1 million, or 13 Canadian cents, a year earlier.

Sales dropped 4.2 percent from a year earlier to C$197.2 million, the company said. It added sales were down 10.1 percent from the first quarter of this year “as a result of the weak economic conditions experienced in several markets.”

Gross margin was 45.6 percent of sales, compared with 42.5 percent a year earlier.

Cost of goods sold fell to C$107.2 million from C$118.3 million a year earlier.

The company reported the results after markets closed. During the day, its shares fell 62 Canadian cents to close at C$27.98 on the Toronto Stock Exchange.

$1=$1.08 Canadian Reporting by Wojtek Dabrowski; editing by Rob Wilson

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