November 24, 2010 / 9:45 PM / 8 years ago

UPDATE 1-Mosaid Tech Q2 profit up 32 pct, raises FY11 outlook

* Q2 EPS C$0.55 vs C$49 yr ago

* Revenue up 15 pct at C$20 mln

* Sees Q3 pro-forma EPS C$0.62-C$0.68

* Sees FY11 pro-forma EPS C$2.62-C$2.74

Nov 24 (Reuters) - Canadian patent-licensing firm Mosaid Technologies Inc MSD.TO posted a 32 percent rise in second-quarter earnings, buoyed by strength in its wireless patents segment, and raised its full-year earnings outlook.

For the third quarter, the company sees pro-forma earnings of 62-68 Canadian cents per share, on revenue of C$19-C$21 million ($18.81-$20.79 million).

For 2011, Mosaid expects adjusted earnings of C$2.62-C$2.74 per share, up from its prior view of C$2.33-C$2.45 per share. It backed its full year revenue view of C$77-C$80 million.

For the second quarter, the company earned C$6.6 million, or 55 Canadian cents per share, compared with C$5 million, or 49 Canadian cents per share, a year ago.

Pro-forma earnings was 78 Canadian cents per share.

Quarterly revenue rose 15 percent to C$20 million.

Analysts on average were expecting earnings of 62 Canadian cents per share, on revenue of C$19.3 million, according to Thomson Reuters I/B/E/S.

Kanata, Ontario-based Mosaid’s shares, which have gained 27 percent since the company reported first-quarter results in August, closed at C$27.43 on Wednesday on the Toronto Stock Exchange. ($1=1.010 Canadian Dollar) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Vinu Pilakkott)

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