November 12, 2010 / 11:32 AM / in 7 years

UPDATE 1-Miranda Technologies Q3 profit jumps six fold

* Q3 EPS C$0.30 vs C$0.05 last year

* Revenue up 19 pct

Nov 12 (Reuters) - Miranda Technologies Inc MT.TO, which provides technology for the television broadcast industry, posted a six-fold jump in quarterly profit, helped by new products and an improvement in broadcast markets.

Net income at the Montreal-based company rose to C$6.6 million, or 30 Canadian cents a share, from C$1.1 million, or 5 Canadian cents a share, a year earlier.

Revenue grew 19 percent to C$37.7 million as sales increased across all regions.

“We remain committed to driving profitable growth, both organically and through acquisitions,” Chief Executive Strath Goodship said in a statement.

The company’s shares, which have lost 13 percent in value since it bought UK software company OmniBus for $47 million in September, closed at C$4.48 on Thursday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Anne Pallivathuckal)

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