November 12, 2010 / 5:14 PM / in 7 years

UPDATE 1-Vector Aerospace Q3 profit rises

* Q3 EPS C$0.21 vs EPS C$0.20 last yr

* Q3 rev down 4 percent

Nov 12 (Reuters) - Vector Aerospace Corp's RNO.TO quarterly profit rose 28 percent and the Canadian aviation repair company said it expects to generate improved operating results in 2011.

"We are beginning to see signs of improvement in the commercial engine market," the company said in a statement.

Net income for the third quarter was C$10 million, or 21 Canadian cents a share, up from C$7.8 million, or 20 Canadian cents a share, last year.

Revenue fell 4 percent to C$135.4 million.

The company recorded C$100,000 as foreign exchange gain in the latest quarter, compared with a foreign exchange loss of $1.8 million last year.

The Toronto, Ontario-based company's shares, which have gained 16 percent year-to-date, closed at C$7.06 on Thursday on the Toronto Stock Exchan0ge. (Reporting by Aftab Ahmed in BANGALORE; Editing by Jarshad Kakkrakandy) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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