September 22, 2010 / 9:26 PM / 8 years ago

UPDATE 1-Gennum Corp Q3 tops estimates on new product sales

* Q3 EPS $0.15 vs est $0.13

* Revenue up 61 pct

* Sees Q4 operating income on rising demand

* Says new product sales continue to grow

Sept 22 (Reuters) - Intellectual property firm Gennum Corp’s GND.TO quarterly earnings topped market estimates, helped by growing sales of its new products.

For the third quarter, the Canadian company earned $5.3 million, or 15 cents a share, compared to a loss of $4.3 million, or 12 cents a share, a year ago.

Revenue rose about 61 percent to C$34.4 million, of which new products accounted for 37 percent, Gennum said in a statement.

Analysts on average expected the company to earn 13 cents, on revenue of $32.2 million, according to Thomson Reuters I/B/E/S.

The company, which also designs semiconductor products for the broadcast industry, said it introduced six new crosspoint products, which assist broadcasters in handling new video formats, in the quarter.

The Burlington, Ontario-based company’s shares, which have gained 13 percent since the new product was introduced on Sept. 7, closed up about 2.5 percent at C$7.12 Wednesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Aradhana Aravindan)

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