Belzberg Technologies Inc. (TSX -BLZ), a provider of technology-based equity and options trading services, announced today its financial results for the three months ended March 31, 2010.
Major elements of the first quarter statements include:
- Net revenue decreased by 29% to $4.1 million for the first quarter of 2010 from the previous quarter.
- Operating expenses decreased 14% or $1.0M for the first quarter of 2010 from the previous quarter.
- Loss of $2.5M ($0.17) per share for the first quarter of 2010 as compared to a loss of $10.9M ($0.74) per share in the previous quarter.
- Working capital position of $14.1M at March 31, 2010 as compared to $16.2M at December 31, 2009.
"The first quarter of 2010 presented a challenging operating environment," said Judith Robertson, President and CEO. "We are starting to see the benefits of our cost reductions and restructuring program in lower operating costs. In addition, we continue to seek scale through partnerships and combinations."
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