* 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