November 10, 2010 / 10:03 PM / in 7 years

UPDATE 1-Atrium Innovations Q3 misses on higher forex loss

* Q3 EPS $0.39 vs est $0.40

* Q3 revenue $88.9 mln vs est $90.3 mln

* Sees sales momentum ramp up in Germany

Nov 10 (Reuters) - Dietary supplement-maker Atrium Innovations’ ATB.TO third-quarter results missed estimates, hurt by a rise in foreign exchange loss.

Third-quarter income fell 2 percent to $12.8 million, or 39 cents a share, from $13.1 million, or 40 cents a share, a year ago.

The health products maker, whose key markets are in North America and Europe, posted a 9 percent increase in revenue at $88.9 million, helped by robust sales in Germany.

“In the early part of the fourth quarter, we are satisfied with the continued sales momentum of our family of Wobenzym products in Germany and worldwide,” said CEO Pierre Fitzgibbon, in a statement.

Analysts on average expected the company to earn 40 cents on revenue of $90.3 million, according to Thomson Reuters I/B/E/S.

Foreign exchange loss was $297,000 as a result of the negative impact of euro/U.S. dollar exchange rate, compared with a loss of $127,000 a year ago.

Shares of the company have gained about 3 percent in value since a Quebec-based financial holding firm sold 4 percent stake in Atrium on Nov 3.

They closed at C$15.33 on Wednesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Prem Udayabhanu)

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