UPDATE 1-Day4 Energy swings to Q4 profit

Tue Mar 16, 2010 8:29am EDT

* Q4 EPS C$0.02 vs loss/shr C$0.79 last year

* Revenue rises more than two-fold

March 16 (Reuters) - Canadian solar module maker Day4 Energy Inc DFE.TO swung to a quarterly profit on cost reduction measures and improved demand in its primary markets.

For the fourth quarter, the company earned C$600,000, or 2 Canadian cents a share, compared with a net loss of C$29.0 million, or 79 Canadian cents a share, a year ago.

The company, which serves customers in Europe and North America, said revenue more than doubled to C$36.6 million.

Analysts on average were expecting the company to post a loss of 5 Canadian cents a share, on revenue of C$12.2 million, according to Thomson Reuters I/B/E/S.

Shares of the Burnaby, British Columbia-based company closed at 82 Canadian cents Monday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Anne Pallivathuckal)

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