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UPDATE 1-Retalix moves to Q4 profit, sees higher '11 revs
* Q4 net profit ex-items $4 mln, rev rises to $53.8 mln
* Sees 2011 revs of $217-$228 mln, at least same profit
* Shares rise 0.9 pct in declining Tel Aviv market
(Adds details, CFO comment, chairman, share reaction)
JERUSALEM, March 2 (Reuters) - Retalix RTLX.TA, a maker of software systems for retailers, swung to a profit in the fourth quarter, boosted by higher sales and increased financial income.
The Israel-based company on Wednesday posted quarterly profit excluding one-time items of $4 million, or 16 cents a diluted share, compared with a loss of $900,000, or 4 cents a share, in the final three months of 2009.
Revenue rose to $53.8 million from $46.4 million.
Retalix's RTLX.O bottom line was helped by a $1.8 million increase in financial income related to tax refunds, the impact of currency fluctuations and the company's forward currency transactions.
"We do not expect to have the same levels of financial income in 2011," Hugo Goldman, Retalix's chief financial officer, said in a statement.
Retalix projects 2011 revenue of $217-$228 million and expects to maintain "at least the same level of profitability as compared with 2010". Revenue in 2010 reached $207.4 million.
It is banking on Retalix 10, a new store platform launched at the start of 2011.
Retalix also said the appointment of Avi Naor as chairman has now become effective. Naor succeeds Eli Gelman, who stepped down to become the CEO and president of Amdocs (DOX.N).
Shares of Retalix were up 0.9 percent in late Tel Aviv trading, compared with a 1.5 percent decline on the broader bourse. (Reporting by Steven Scheer; Editing by Jon Loades-Carter)
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