Canada's MKS Inc's second-quarter profit rose 19 percent, helped by higher maintenance revenue, and the software and services provider appointed a new chief executive.
MKS, which increased its quarterly dividend by 20 percent to 15 cents a share, said Chief Operating Officer Michael Harris has been appointed as CEO.
Harris succeeds Philip Deck, the company's largest shareholder, who has been appointed executive chairman.
Net income for the quarter ended Oct. 31 was $1.6 million, or 16 cents a share, compared with $1.4 million, or 13 cents a share, a year ago.
Total revenue fell 10 percent to $14.7 million. However, maintenance segment revenue increased 11 percent to $7.8 million.
Analysts on average had expected earnings of 13 cents a share, excluding special items, on revenue of $15.0 million, according to Thomson Reuters I/B/E/S.
The company said it plans to make additional investments in its sales force in response to expected increases in demand in key customer sectors.
However, it expects a 10 percent annual decline in its interoperability business, which sells products related to cross-platform development, application migration, systems administration and network management.
Shares of the Waterloo, Ontario-based company closed at C$8.81 Monday on the Toronto Stock Exchange.
(Reporting by Amit Kumar in Bangalore; Editing by Anne Pallivathuckal)