Canada's LAB Research Inc (LRI.TO) posted a wider quarterly loss, hurt by lower revenue at its Danish operations and higher administrative expenses.
The company, which does pharmaceutical research on a contract basis, reported a third-quarter net loss of C$1.7 million, or 9 Canadian cents a share, compared with a net loss of C$1.2 million, or 6 Canadian cents a share, a year ago.
Revenue fell 7 percent to C$13.1 million, weighed down by a 41 percent fall in revenue at its Danish subsidiary Lab Denmark.
Sales and administrative expenses increased about 22 percent to C$3.3 million.
Analysts on average were expecting a loss of 4 Canadian cents, excluding special items, on revenue of C$12.94 million, according to Thomson Reuters I/B/E/S.
Shares of Lab Research, which have shed more than 75 percent in the past one year, closed at 48 Canadian cents Wednesday on the Toronto Stock Exchange.