UPDATE 2-GLG Life swings to Q4 loss, sees higher rev in 2011

* Q4 loss/shr C$0.12 vs EPS C$0.02 last year

* Cost of sales almost doubles to $15.6 mln

* Sees 2011 rev between C$160-C$200 mln

* Sees capex C$5-C$10 mln for 2011

* Q4 Rev rises 45 pct to C$19.3 mln

(Adds outlook details, share milestone)

March 31 (Reuters) – Canada’s GLG Life Tech Corp
swung to a quarterly loss as costs soared, but the sweetner
maker said China’s plan to tackle a sugar shortage and address
health concerns over too much sugar consumption would bode well
for future growth.

The company — which supplies Stevia, a natural,
zero-calorie sweetener used in food and beverages — said it
plans to provide China’s Sugar Reserve with a blend of sugar and
Stevia.

GLG forecast higher revenue of C$160-C$200 million and
capital expenditures of C$5-C$10 million for 2011. In 2010, it
posted total revenue of C$58.9 million.

For the October-December quarter, GLG posted a net loss of
C$3.2 million, or 12 Canadian cents a share, compared with a net
income of C$488,000, or 2 Canadian cents a share, last year.

Revenue rose 46 percent to C$19.3 million.

Cost of sales was $15.6 million compared with $8.3 million
in the same period last year.

The company said pricing incentives given to new
distributors raised the cost of sales as a percentage of
revenue.

Vancouver, British Columbia-based GLG Life’s shares, which
have gained nearly 27 percent in value since reporting a
third-quarter profit in November last year, closed at C$10.28 on
Wednesday on the Toronto Stock Exchange.
(Reporting by Amruta Sabnis in Bangalore; Editing by Jarshad
Kakkrakandy)
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UPDATE 2-GLG Life swings to Q4 loss, sees higher rev in 2011