April 7, 2010 / 9:21 PM / in 8 years

UPDATE 1-Gennum's Q1 EPS beats market estimates

* Q1 EPS $0.12 vs est $0.09

* Q1 rev rises 52 pct

April 7 (Reuters) - Canadian intellectual property company Gennum Corp GND.TO posted better-than-expected quarterly earnings, helped by higher demand in Asia and North America, and the firm expects strong operating income in the current quarter.

Net income for the first quarter ended Feb 28, was $4 million, 12 cents a share, compared with a loss of $800,000, or 2 cents a share, a year ago.

Analysts on average were expecting earnings of 9 cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose 52 percent to $29.5 million.

Asia Pacific and Japan led in sales due to a new segment of telecom customers in China and strong video and data communications product sales in Japan, the company said.

North America also exhibited double-digit sequential growth, while growth in Europe was more modest, Gennum added.

The company, which said new products represent 33 percent of its business, expects strong operating income in the current quarter as bookings continue to be strong.

Shares of the company closed C$6.68 Wednesday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Ratul Ray Chaudhuri)

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