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UPDATE 1-Constellation Software earnings soar
February 29, 2012 / 11:29 PM / 6 years ago

UPDATE 1-Constellation Software earnings soar

Feb 29 (Reuters) - Canada’s Constellation Software posted a 72 percent rise in quarterly profit, helped by acquisitions and higher sales at both its private and public sector businesses.

Fourth-quarter net income rose to $19 million, or 92 cents per share, from $11 million, or 51 cents per share, a year ago.

Adjusted profit rose to $1.90 per share from $1.06 per share.

Constellation, which makes customized software for private and public sectors entities, said revenue rose 15 percent to $ 198.4 million.

Constellation had bought Capital Computer Associates and Markinson Technologies in the fourth quarter.

Shares of the company touched a life-high of C$99.99 before closing at C$99 on Wednesday on the Toronto Stock Exchange. The stock has risen 60 percent in the last three months.

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