Profit winged by loonie

Satellite products maker International Datacasting Corp. boosts revenue by 36.8% in Q3 despite the strong Canadian dollar, which effectively drops profit 4.5%. Revenue for the period hit $5.8 million, while net earnings fall to $66,389 from $69,537. Numbers for the IDC.JPGcurrent fiscal year to date, however, are up significantly from a year ago, even with a total foreign exchange loss of $719,084. Revenue for the first nine months of 2007 leapt 57.6% to $17.2 million, netting IDC a profit of $572,212 compared to a net loss of $600,703 a year earlier. “Our year-to-date results show strong growth over last year in both top-line and bottom-line performance,” says CEO Ron Clifton. ”The results were, unfortunately, impacted negatively by the rapid appreciation of the Canadian dollar, which saw a 13-per-cent change in the quarter.”

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