October 27, 2010 / 10:50 AM / 8 years ago

REFILE-UPDATE 1-Canam Q3 profit beats estimates

(Refiles to fix typo in para 1)

* Q3 EPS C$0.05 vs C$ 0.03 est

* Revenue up 46 pct to C$211.9 mln

* Order backlog at Sept. 25 was C$513 mln

Oct 27 (Reuters) - Canadian construction equipment maker Canam Group Inc CAM.TO posted higher-than-expected quarterly profit, helped by increased volume of structural steel construction projects.

For the third quarter, net income was C$2.1 million ($2.05 million), or 5 Canadian cents per share, compared with C$4.4 million, or 10 Canadian cents per share, a year ago.

Revenue rose 46 percent to C$211.9 million.

Analysts on average were expecting the company to earn 3 Canadian cents per share on revenue of C$232.6 million, according to Thomson Reuters I/B/E/S.

Canam’s order backlog as on Sept. 25 was C$513 million.

Shares of the Boucherville, Quebec-based company, which have gained over 11 percent in value over the last three months, closed at C$7.84 on the Toronto Stock Exchange. ($1=1.023 Canadian Dollar) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Prem Udayabhanu)

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