September 8, 2010 / 12:49 PM / 7 years ago

UPDATE 1-Canada's MKS profit falls on license segment weakness

* Q1 EPS $0.09 vs $0.14 last year

* Total revenue falls 3 pct

Sept 8 (Reuters) - Canadian software and services provider MKS Inc MKX.TO posted lower first-quarter results, hurt by a drop in revenue in its license segment.

For May-July, the company posted net income of $974,000, or 9 cents a share, down from $1.4 million, or 14 cents a share, a year earlier.

Total revenue at the company, whose customers include Lockheed Martin Corp LMT.N, Canon 7751.T and HSBC Holdings Plc HSBA.L, fell to $15.3 million from $15.7 million.

MKS said it continued to make new investments and hire key executives at its license segment, which saw revenue fall nearly 20 percent to $4.5 million.

The Waterloo, Ontario-based company’s shares, which have gained 7 percent in value in the past three months, closed at C$12.39 Tuesday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Anne Pallivathuckal)

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