Call Genie Q1 loss narrows

CALL GENIE, the Canada based provider of local search and advertising solutions, has this week reported that it posted a first quarter loss of C$3.2 million or C$0.04 per share, compared to a loss of C$5.0 million or C$0.06 per share in the prior year period. Net loss excluding stock based compensation expense was C$3.2 million, compared to C$4.6 million in last year period.

Deferred revenues for the quarter were C$1.1 million, compared to C$0.7 million in the previous year quarter. Recognised revenues were C$0.9 million, compared to C$1.0 million in the same quarter last year.

Mr. Michael Durance, the Company's Chief Executive Officer, remarked, "Despite the extremely poor economic climate, the company has successfully secured additional working capital financing. The financing will be used to support the growing number of customer projects for which the Company has been engaged."

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