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Legal tech company Dye & Durham trims loss to $4 million in Q2 as revenues soar

Canadian Press - Tue Feb 1, 4:15PM CST
A woman uses her computer keyboard to type while surfing the internet in North Vancouver, B.C., on December 19, 2012. THE CANADIAN PRESS/Jonathan Hayward

TORONTO — Dye & Durham Ltd. says it trimmed losses in its most recent quarter to nearly $4 million as revenues soared.

The Toronto-based legal technology company's second-quarter loss was an improvement from last year, when it recorded a loss of more than $21.5 million.

Dye & Durham says for the period ended Dec. 31 its revenue totalled $109.6 million, up from $33.7 million at the same time last year.

The company's net loss per share amounted to six cents per share on both a basic and diluted basis, which compared with a loss of 40 cents per share during last year's second quarter.

Dye & Durham was expected to post a loss of four cents per share, according to analysts polled by financial data firm Refinitiv.

The quarter covers a period when Dye & Durham agreed to acquire fellow tech company Link Administration Holdings Ltd. and telecommunications giant Telus' Financial Solutions Business.

This report by The Canadian Press was first published Feb. 1, 2022.

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