Interior design software developer 20-20 Technologies Inc. (TSX:TWT) rang up a US$500,000 profit in the first quarter, helped by higher revenues.
The Laval, Que.-based company, which reports in U.S. dollars, said the results were worth two cents per share, versus $200,000 or a penny per share a year ago.
Revenues increased 6.3 per cent to $16.6 million from $15.6 million in the year-ago period, driven by a favourable exchange rate on the dollar and organic growth.
20-20 creates design, business and manufacturing software for the interior design and furniture industries, and licenses its products across North America, Europe and China.
The company said its overall license sales were up 15 per cent, largely fuelled by growth in the residential sector.
"We regard the rising trend in licence sales on a sequential or year-over-year basis during the first quarter as an indication of building momentum in the recovery," said chief executive Jean-Francois Grou in a release.
"Throughout 2010 we expect the market to continue a gradual recovery. We see among our clients a general readying for a progressive return to normal levels of business activity and growth."
