April 29, 2010 / 11:52 AM / 7 years ago

UPDATE 1-Bridgewater Q1 profit rises 59 pct

* Q1 EPS C$0.18 vs C$0.12 yr ago

* Revenue up 74 pct

* Raises full-year revenue view

April 29 (Reuters) - Canadian telecoms software firm Bridgewater Systems Corp BWC.TO reported a 59 percent rise in quarterly profit, driven by new customer wins, and raised its full-year revenue outlook.

For the first quarter, net income was C$4.6 million ($4.6 million), or 18 Canadian cents a share, compared with C$2.9 million, or 12 Canadian cents a share, a year ago.

Revenue for the company, which sells products to ease networks congestion, rose 74 percent to C$24.5 million. Analysts on average were expecting the company to earn 9 Canadian cents a share, on revenue of C$19.7 million, according to Thomson Reuters I/B/E/S.

The company, which added about nine customers in the fourth quarter including a deal with MetroPCS Communications PCS.N, sees 2010 revenue of C$85 million to C$94 million, up from its prior forecast of C$82 million to C$92 million.

It sees 2010 net earnings after tax of C$10 million to C$12 million, and before-tax profit of C$14 million to C$17 million.

It had earlier forecast a profit of C$13 million to C$16 million.

Shares of the company closed at C$9.49 Wednesday on the Toronto Stock Exchange.

$1=1.009 Canadian Dollar Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Anne Pallivathuckal

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