* Q3 EPS C$0.70 vs C$0.01
* Revenue C$245.6 mln
* Year-ago result included C$29.1 mln accounting loss
TORONTO, Oct 28 (Reuters) - MacDonald, Dettwiler & Associates MDA.TO, a real-estate data and space technology provider, on Wednesday said quarterly profit rose even as revenue dropped, helped by an accounting gain.
Profit rose to C$28.5 million, or 70 Canadian cents a share, in its third quarter from C$242,000, or 1 Canadian cent, a year earlier.
The company booked a C$5.7 million fair value gain on equity forward contracts in the quarter. A year ago, it booked a C$29.1 million loss on the same.
Adjusted earnings per share climbed to 68 Canadian cents from 50 Canadian cents.
Revenue fell to C$245.6 million from C$278.3 million a year earlier.
“Revenues for the third quarter of 2009 reflect accounting changes to revenue recognition for the company’s property information business in British Columbia and a shift in sales mix towards higher margin, value-added information solutions,” MDA said in a statement.
Analysts were expecting the company to earn 62 Canadian cents a share on revenue of C$253.5 million, according to Thomson Reuters I/B/E/S.
MDA released its results after markets closed. During the day, its shares fell C$1.67, or 4.5 percent, to close at C$35.11 on the Toronto Stock Exchange.
$1=$1.08 Canadian Reporting by Wojtek Dabrowski; Editing by Frank McGurty