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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.

Companies in this story: (TSX:DND)