FirstService slips after swinging to unexpected Q4 loss
FirstService Corp. (Nasdaq:FSRV) shares were down 13% in Thursday’s trading after the Toronto-based real estate service company reported that it swung to a fourth-quarter adjusted loss of $10.2 million, or $0.34 per share, versus a profit of $5.9 million, or $0.07 per share, a year earlier. Wall Street expected earnings of $0.06 per share. Revenue increased 35% to $371.1 million from $275.7 million during the same period of 2007. Wall Street was looking for $401.3 million.
In Thursday’s trading, FSRV shares fell 13.3%, or $3.02, at $19.76. For detailed price information and recent news stories about FirstService, click FSRV.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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