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Matrikon books record Q2 profit of $2.8 million as revenue rises 16 per cent

Thu, 04/08/2010 - 8:30am
The Associated Press

Matrikon Inc. said Thursday it booked record profits in the second quarter as revenue climbed 16 per cent.

The provider of software and other technologies to industry said it earned $2.8 million or nine cents a share in the three months ended Feb. 28. That's up from $2 million or six cents a share in the year-earlier period.

Edmonton-based Matrikon (TSX:MTK) said total revenue was $22.8 million versus $19.7 million in the year-earlier period.

President and chief executive Nizar Somji said the earnings and revenue showed the company was able to continue the "strong results we saw at the beginning of this fiscal year and the gradual return to spending in some of core industries."

The company declared a three-cent dividend payable April 27.

Matrikon serves the oil and gas, energy, mining and refining industries.

Shares of the company were up two cents at $3.64 on the Toronto Stock Exchange.

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