March 26, 2010 / 10:51 AM / in 7 years

UPDATE 1-Hydrogenics posts Q4 profit

* Q4 EPS $1.64 vs loss/shr $0.53 yr ago

* Revenue down 52 pct at $4.2 mln

March 26 (Reuters) - Canadian fuel-cell maker Hydrogenics Corp HYG.TO posted a fourth-quarter profit, helped by a gain, despite a 52 percent slide in revenue.

For the quarter, the company earned $6.1 million, or $1.64 per share, compared with a net loss of $2.0 million, or 53 cents per share, a year ago.

Hydrogenics recorded a gain of $10.4 million related to its transaction with Algonquin Power Income Fund.

Revenue fell 52 percent to 4.2 million, hurt by delayed project deliveries.

The company said order backlog as of Dec. 31 was $19.7 million.

The Mississauga, Ontario-based company's shares, which have lost 36 percent in the last three months, closed at C$6.21 Thursday on the Toronto Stock Exchange. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Vinu Pilakkott)

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