Aastra Technologies Ltd. (AAH.TO) Wednesday reported a sharp increase in profit for the first quarter on lower operating expenses and higher finance income. Both earnings and revenues for the quarter missed analysts' estimates.
The Concord, Ontario-based company reported a first-quarter net profit of C$1.96 million or C$0.14 per share, compared to C$184 thousands or C$0.01 per share last year. On average, four analysts polled by Thomson Reuters expected the company to earn C$0.35 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter dropped 9.5 percent to C$147.27 million from C$162.71 million in the prior-year quarter. Four analysts had a consensus revenue estimate of C$156.96 million for the quarter.
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