Smart Technologies profit falls on weak education market
Aug 2 (Reuters) - Smart Technologies Inc's first-quarter profit plunged 93 percent on a weak education market in North America and Europe.
The company, which makes digital whiteboards, said profit fell to $1.5 million, or 1 cent per share, from $23.0 million, or 19 cents per share, a year earlier.
Revenue fell 14 percent to $174.5 million.
On an adjusted basis, the company earned 10 cents per share.
Average selling price of interactive displays fell 8 percent in the first quarter to $1,415 per unit.
Shares of the Calgary-based company closed at C$1.57 on Thursday on the Toronto Stock Exchange and at $1.56 on the Nasdaq.
- Tweet this
- Share this
- Digg this