April 21, 2010 / 12:56 PM / 8 years ago

UPDATE 1-Points International raises 2010 revenue outlook

* Sees FY10 revenue of $85 mln-$95 mln

* Says 2010 EBITDA projections hurt by forex volatility

April 21 (Reuters) - Points International Ltd (PTS.TO), which owns and operates reward program management website Points.com, raised its fiscal 2010 revenue outlook for the second time in the last three months, citing product launches. The company now sees 2010 revenue of $85 million to $95 million. In January, it forecast $75 million to $85 million.

Points said the recent launch of a service for a major European partner in British Airways BAY.L and pending product launches with Alaska Airlines and AirTran Airways helped the forecast. However, it said 2010 EBITDA projections are being hurt by foreign-exchange volatility and increased expenses related to this year’s annual general meeting.

“We believe there may be further EBITDA upside in 2010 should European currencies in particular rebound from the recent lows versus the U.S. dollar,” the company said in a statement.

Shares of the company closed at 47 Canadian cents Tuesday on the Toronto Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Vinu Pilakkott)

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