August 3, 2010 / 10:22 PM / in 7 years

UPDATE 1-Mediagrif Interactive posts Q1 profit on lower expenses

* Q1 profit/basic shr C$0.19 vs loss C$0.01/shr yr ago

* Q1 revenue down 4 pct

Aug 3 (Reuters) - Canada’s Mediagrif Interactive Technologies Inc (MDF.TO) posted a quarterly profit, as the company was able to put a lid on its operating expenses.

For the first quarter ended June 30, the company reported net income of C$2.6 million, or 19 Canadian cents a basic share, compared with a loss of C$200,000, or 1 Canadian cent per basic share, a year earlier.

The company, which develops and operates e-business networks, said its quarterly revenue fell 4 percent at C$11.2 million.

Operating expenses for the quarter were C$5.2 million, down from C$7.2 million a year ago.

Shares of the company closed at C$8.45 Tuesday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Maju Samuel)

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