June 23, 2010 / 9:11 PM / 7 years ago

UPDATE 1-Gennum posts Q2 profit on strong demand

* Q2 EPS $0.12 vs loss $0.03 last year

* Q2 rev up 63 percent

* Sees flat to moderate rev growth sequentially

June 24 (Reuters) - Canadian intellectual property company Gennum Corp GND.TO reported a quarterly profit helped by strong demand and expects flat to moderate revenue growth sequentially in the third quarter. Net income for the second-quarter was $4.1 million, or 12 cents a share, compared with a loss of $1.1 million, or 3 cents a share, a year-ago.

Revenue rose 63 percent to $31.7 million.

The company said it was securing more customer design wins in fast growing regions such as China and expect to continue to deliver growth through the rest of 2010.

The company said it continues to expect that it would out pace the industry in revenue growth in fiscal 2010 and orders in the current quarter remained solid.

Shares of the company closed at C$7.24 Thursday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Jarshad Kakkrakandy) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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