April 28, 2010 / 8:59 PM / 8 years ago

UPDATE 1-Canada's Dalsa Corp Q1 profit triples

* Q1 EPS C$0.20 vs EPS C$0.07 yr-ago

* Revenue rises 32 pct to C$49.9 mln

* Sees results improving in H2

* Sees higher demand for image sensor chips in H2

April 28 (Reuters) - Canada’s Dalsa Corp’s DSA.TO first-quarter earnings nearly tripled, helped mainly by a solid performance at its digital imaging division.

Dalsa said it expects to see an uptick in results in the second half of 2010, driven largely by a return to growth in its MEMS business.

The company also sees higher demand for its image sensor chips later in the year, buoyed by improving economic conditions.

Dalsa also increased its quarterly dividend to 6 Canadian cents a share, from 5 Canadian cents per share.

For the first quarter, net income from continuing operations was C$3.7 million ($3.65 million), or 20 Canadian cents a share, compared with C$1.3 million, or 7 Canadian cents per share, a year ago.

Revenue rose 32 percent to C$49.9 million, with its digital imaging division adding C$33.1 million, the company said in a statement.

Analysts on average expected the company to earn 5 Canadian cents a share on revenue of C$42.8 million, according to Thomson Reuters I/B/E/S.

The company said order backlog as of Mar. 31 was C$75 million, 20 percent down from a year ago.

Shares of the Waterloo, Ontario-based company closed up 1 percent at C$8.10 Wednesday on the Toronto Stock Exchange. ($1=1.015 Canadian Dollar) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Gopakumar Warrier)

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