January 31, 2011 / 9:30 PM / 7 years ago

UPDATE 1-Absolute Software Q2 loss narrows

* Q2 net loss/shr C$0.03 vs loss/shr C$0.05 yr ago

* Q2 revenue up 13 pct at C$17.9 mln

Jan 31 (Reuters) - Canada’s Absolute Software Corp (ABT.TO), which provides data protection services, posted a narrower quarterly loss, helped by increased commercial sales contracts.

For the second quarter, net loss was C$1.5 million ($1.50 million), or 3 Canadian cents per share, compared with net loss of C$2.3 million, or 5 Canadian cents per share, a year ago.

Revenue rose 13 percent to C$17.9 million.

    Commercial sales rose 17 percent to C$15.4 million.

    Analysts on average were expecting a loss of 2 Canadian cents per share on revenue of C$17.7 million, according to Thomson Reuters I/B/E/S.

    Vancouver, British Colombia-based Absolute Software shares, which have lost 11 percent in value since the company’s first-quarter results in November, closed at C$3.67 on Monday on the Toronto Stock Exchange. ($1=1.002 Canadian Dollar) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Maju Samuel)

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