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 (BestGrowthStock) – 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

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

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

UPDATE 1-Bridgewater Q1 profit rises 59 pct