Mer Telemanagement Solutions (MTSL) saw its loss widen to $4.48 million, or $0.52 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $3.86 million, or $0.48 a share. On the other hand, adjusted net loss for the quarter widened to $0.43 million, or $0.05 a share from a loss of $0.14 million or $0.02 a share, a year ago.

Revenue during the quarter dropped 4.89 percent to $4.03 million from $4.24 million in the previous year period. Gross margin for the quarter expanded 763 basis points over the previous year period to 47.03 percent.

Operating loss for the quarter was $4.96 million, compared with an operating loss of $3.75 million in the previous year period.

Mr. Haim Mer, chairman if the board of MTS, commented, "While our video advertising revenues grew in the fourth quarter of 2016 compared to the third quarter of 2016 as a result of the market’s seasonal strength during the year-end holiday period, the cost of online advertising space increased and adversely affected the results of Vexigo’s operations. Our core telecommunications business, TEM and Call Accounting, showed improved performance in the fourth quarter with revenue growth of 15% compared to the third quarter of 2016 and we successfully added several new TEM customers with long-term contracts during 2016."