Aug 1 Canada's Constellation Software Inc
reported a decline in second-quarter profit on a rise
in staff-related expenses and a lower income tax benefit.
Net income fell to $17.6 million, or 83 cents a share, from
$56.0 million, or $2.64 cents a share, a year ago.
Last year the company benefited from an income tax recovery
of $40.6 million in the second quarter, compared with just $1.7
million this year.
Excluding the income tax recovery, profit rose 3 percent to
The software company said quarterly revenue rose 7 percent
to $209.0 million.
Staff expenses rose $13.0 million to $113.7 million, the
company said in a statement.
Shares of the Toronto-based company closed at C$91.00 on
Wednesday on the Toronto Stock Exchange.