March 30, 2010 / 9:34 PM / in 8 years

UPDATE 1-EXFO posts lower Q2 profit

* Q2 EPS $0.02 vs $0.04 last yr

* Revenue up 17 pct

* Sees Q3 loss of $0.03/shr to EPS of $0.01

* Sees Q3 sales of $60 mln to $65 mln

March 30 (Reuters) - Canada’s EXFO Inc EXF.TO EXFO.O, which provides services for the telecommunications industry, posted a lower quarterly profit, hurt by foreign exchange losses and higher operating expenses.

For the third quarter, EXFO expects to post a loss of 3 cents a share to earnings of 1 cent a share, on revenue of $60 million to $65 million.

Net income for the second quarter ended Feb. 28 was $1.2 million, or 2 cents a share, compared with $2.7 million, or 4 cents a share, a year ago.

Revenue rose about 17 percent to $54.1 million.

The company recorded a pre-tax foreign exchange loss of $1 million in the second quarter, compared to a gain of $1.1 million a year ago.

Operating expenses jumped 12 percent to $28.5 million.

Shares of the Quebec-based company closed at C$6.63 Tuesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Anne Pallivathuckal)

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