May 11, 2010 / 5:24 PM / 7 years ago

UPDATE 1-Vector Aerospace Q1 profit falls, shares down

* Q1 EPS C$0.18 vs. C$0.24 a year ago

* Revenue down 9 percent

* Stock down 4 Canadian cents

May 11 (Reuters) - Canadian aviation repair company Vector Aerospace Corp's RNO.TO reported a drop in quarterly results on Tuesday, hurt by unfavorable exchange rates, but said it continues to see increased operating earnings for fiscal 2010.

Net income for the quarter fell to C$8.5 million, or 18 Canadian cents a share, compared with C$9.2 million, or 24 Canadian cents a share, in the year ago quarter.

"First quarter revenues and earnings for 2010 were negatively impacted by the weak US dollar and United Kingdom pound sterling," the company said in a statement.

Revenue for the quarter fell 9 percent to C$128.1 million.

Shares of the company were down 4 Canadian cents at C$6.20 during morning trade on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Prem Udayabhanu) ((isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net))

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