UPDATE 1-CVTech Group posts Q4 loss

Fri Mar 26, 2010 7:52am EDT

* Q4 C$0.00/shr vs C$0.08/shr last year

* Q4 revenue up 55 percent

March 26 (Reuters) - Canadian electrical services provider CVTech Group Inc CVT.TO posted a fourth-quarter loss, partly hurt by weakness at its CVT systems and related products segment.

CVTech said quarter's results were also hurt by the absence of business resulting from natural disasters, where margins are generally higher than for regular contracts.

Net loss for the quarter was C$25,000, or breakeven on a per share basis. It posted net income of C$4.6 million, or 8 Canadian cents a share, a year ago.

Revenue rose 55 percent to C$61.3 million, helped by a 66 percent jump at its energy segment. However, sales at its CVT segment, which makes and sells continuously variable power transmission systems, declined 12 percent.

Shares of the company closed at C$1.35 Thursday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Anne Pallivathuckal) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5828;Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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