UPDATE 1-Canada's Points International posts Q2 profit

* Q2 profit $92,000 vs loss $471,000 yr ago

* Q2 revenue up 2 pct

Aug 10 (Reuters) - Points International Ltd (PTS.TO), which owns and operates reward program management website Points.com, posted a quarterly profit helped by improved margins and a fall in expenses, and restated its full-year financial outlook.

For the second quarter, the company reported net income of $92,000, or breakeven per share, compared with a net loss of $471,000, or breakeven a share, a year earlier.

Revenue rose 2 percent to $21.7 million.

Gross margin for the quarter stood at 19.9 percent of revenue, compared with 15.5 percent of revenue a year ago.

The company reiterated its financial outlook for the year ending Dec. 31, with revenue of $85-$95 million and a positive net income.

The company's general and administration expenses were $21.6 million, down from $21.7 million, a year ago.

Shares of the Toronto, Ontario-based company closed at 70 Canadian cents Tuesday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Roshni Menon)