FirstService Posts Q2 Loss - Quick Facts

(RTTNews) - FirstService Corp. (FSRV, FSV.TO) reported that its second-quarter net loss attributable to common shareholders was $6.73 million, compared to profit of $8.36 million in the same quarter last year. GAAP loss for the quarter was $0.21 per share, versus profit of $0.28 for the same quarter a year ago, and was negatively impacted by $0.29 due to accelerated amortization of intangible assets in the current quarter related to the re-branding of the Company's residential property management operations.

Adjusted earnings per common share climbed to $0.58 from $0.45 last year.

Revenues for the second quarter were $601.9 million, a 1% increase relative to the same quarter in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.39 per share and revenues of $614.93 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward, the company expects to deliver strong year over year EBITDA and earnings per share growth for the balance of the year.