TORONTO, Nov. 12 /PRNewswire-FirstCall/ -- 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 September 30, 2010.
Major elements of the third quarter statements include: -- Net revenue declined approximately 9% from $3.8M in the second quarter to $3.5M in the third quarter. -- Operating expenses decreased approximately 6% or $0.2M from the previous quarter. -- Non-operating expenses of $0.4M in the third quarter versus a gain of $0.9M in the second quarter. (Foreign exchange translation loss of $0.4M versus a gain of $0.6M and a restructuring expense recovery of $0.2M). -- Loss of ($2.1M) or ($0.15) per share for the second quarter as compared to a loss of ($0.7M ) or ($0.05) per share for the second quarter of 2010. -- Working capital position of $ 12.0M at September 30, 2010, as compared to $13.8M at June 30, 2010.
"Trading volumes were down industry-wide in the third quarter," said Judith Robertson, President and CEO. "We are managing our resources carefully through this difficult period and continue to seek scale."
About Belzberg Technologies
Belzberg Technologies Inc. is a provider of trading technology and technology-based brokerage services for equities and options. Belzberg Technologies is listed on the Toronto Stock Exchange (Ticker-BLZ) - additional information is available at http://www.belzberg.com/.
Forward-looking statement disclaimer
Except for historical information contained herein, the matters discussed in this press release are based on forward-looking statements that involve risk and uncertainty. A variety of important factors could cause results to differ materially from such statements, including but not limited to economic, competitive, governmental and technological factors affecting the company's operation, markets, products, prices and other factors.
Belzberg Technologies Inc. Interim Consolidated Balance Sheets (In thousands of Canadian dollars)
Belzberg Technologies Inc. Interim Consolidated Statements of Operations and Retained Earnings (Deficit) (In thousands of Canadian dollars) (Unaudited)
Belzberg Technologies Inc. Interim Consolidated Statements of Cash Flows (In thousands of Canadian dollars) (Unaudited)
Belzberg Technologies Inc.
CONTACT:
Judith Robertson, President and Chief Executive Officer
Phone: (416) 360-1812
E-mail: href="mailto:investorinfo@belzberg.com">investorinfo@belzberg.com
