November 3, 2010 / 11:02 AM / 7 years ago

UPDATE 1-Canada's TSO3 posts narrower Q3 loss

* Loss/shr $0.04 vs loss/shr $0.05 yr-ago

* Rev down 3 pct

Nov 3 (Reuters) - TSO3 Inc (TOS.TO), which designs sterilization technology for medical devices, posted a narrower third-quarter loss, helped by lower costs.

For the July-September quarter, the company posted a net loss of C$2.0 million or 4 cents a share, compared with a net loss of C$2.3 million or 5 cents a share, a year ago.

Revenue for the quarter fell about 3 percent to C$122,759.

The Ste-Foy, Quebec-based company said it was now building sterilizers for 3M Co (MMM.N).

“In the meantime, we continue to experience interest for the product and backlog increases for shipments in 2011,” Chief Executive R.M Rumble said.

The company’s shares, which have gained about 10 percent since it posted a narrower loss in August, closed at $1.49 Tuesday on the Toronto Stock Exchange. (Reporting by Krishnkali Sengupta in Bangalore; Editing by Roshni Menon)

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