May 4, 2010 / 10:27 PM / 7 years ago

UPDATE 1-Canada's Davis + Henderson Q1 results top estimates

* Q1 adj EPS C$0.55 vs est C$0.44/unit

* Q1 rev C$158.4 mln vs est C$158.2 mln

May 4 (Reuters) - Davis + Henderson Income Fund DHF_u.TO posted first-quarter earnings that beat estimates, helped by added sales from its loan servicing business.

“For the first half of 2010, we expect revenues will continue to show a substantial increase over the prior year as a result of the inclusion of the Resolve business within our consolidated results,” the company said in a statement.

The company, which provides technology to financial services firms in Canada, posted net income of C$23.1 million, or 43 Canadian cents per unit, compared with C$19.2 million, or 44 Canadian cents a unit, a year ago.

Adjusted income per unit was 55 Canadian cents.

Revenue was up 79 percent at C$158.4 million.

Analysts on average were expecting the fund to earn 44 Canadian cents per unit, on revenue of C$158.2 million, according to Thomson Reuters I/B/E/S.

Units of the Toronto-based fund closed at C$17.86 Tuesday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Gopakumar Warrier)

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