December 16, 2010 / 1:15 PM / in 7 years

UPDATE 1-Transat Q4 profit tops market estimates

* Q4 adj EPS C$1.25 vs est C$0.69

* Revenue rises 8 pct to C$778.6 mln, but below Street

* Number of travelers increases 21 pct

Dec 16 (Reuters) - Canada’s Transat AT Inc TRZb.TO posted a fourth-quarter profit that beat market expectations, spurred by a rise in the number of transatlantic travelers.

The operator of Air Transat airlines reported net income of C$52.4 million, or C$1.37 a share, compared with C$18.1 million, or 52 Canadian cents a share, a year ago.Excluding items, it earned C$1.25 a share. Revenue rose 8 percent to $778.6 million.

Analysts on average had expected earnings of 69 Canadian cents, on revenue of C$779.1 million, according to Thomson Reuters I/B/E/S.

The company’s class B shares, which have risen 82 percent since touching a year-low in May this year, closed at C$17.75 on Wednesday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by S. John Tilak)

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