March 9, 2010 / 11:10 PM / 8 years ago

UPDATE 1-Hammond Power Q4 profit halves

* Q4 EPS C$0.41 vs C$0.82 yr ago

* Q4 sales down 25 pct

March 9 (Reuters) - Canadian transformer maker Hammond Power Solutions Inc’s HPSa.TO quarterly profit halved, hurt by lower sales and fewer foreign exchange gains.

For the fourth quarter, the company reported net earnings of C$4.9 million, or 41 Canadian cents a share, compared with C$9.8 million, or 82 Canadian cents a share, a year earlier.

Sales were down 25 percent at C$48.6 million.

The company said it had a foreign exchange gain of C$214,000 in the quarter, compared with C$2.8 million, a year ago.

Shares of the company closed at C$10.61 Tuesday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Maju Samuel)

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