February 16, 2011 / 12:52 PM / in 7 years

UPDATE 2-FirstService Q4 loss narrows

* Q4 loss $0.12/shr vs loss $0.40/shr

* Q4 rev up 18.5 pct

(Adds details)

Feb 16 (Reuters) - Canadian property manager FirstService Corp posted a narrower quarterly loss, helped mainly by strength in its commercial real-estate services segment.

October-December loss narrowed to $3.7 million, or 12 cents a share, from $9.3 million, or 40 cents a share, last year.

The company, which operates in North America, Latin America, Asia Pacific and Europe, reported adjusted earnings of 37 cents a share.

Analysts on average were expecting the company to earn 43 cents a share, on revenue of $522.1 million, according to Thomson Reuters I/B/E/S.

Revenue rose 18.5 percent to $552.1 million.

Commercial Real Estate Services revenues -- which contributed nearly half the total revenue -- rose about 30 percent to $268.0 million, driven mainly by growth in Americas and Asia Pacific regions.

Its residential proeperty business also rose 5 percent to $164.4 million, while its property services revenue rose 15 percent to $119.6 million.

Shares of the Ontario-based company, which have gained more than 40 percent in value in the last one year, closed at C$29.75 on Tuesday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Don Sebastian) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 58 00 ; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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