Wright Investors’ Service Holdings, Inc (WISH) saw its loss narrow to $0.40 million, or $0.02 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $0.77 million, or $0.04 a share. Revenue during the quarter dropped 7.75 percent to $1.42 million from $1.54 million in the previous year period. Operating margin for the quarter stood at negative 27.95 percent as compared to a negative 32.42 percent for the previous year period.
Operating loss for the quarter was $0.40 million, compared with an operating loss of $0.50 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $0.20 million compared to negative $0.18 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 14.33 percent for the quarter compared to negative 11.39 percent in the last year period.
Mr. Harvey Eisen, Chairman and Chief Executive Officer stated that “Our operating results have continued to improve due to reduced operating costs. We are committed to our goal of increasing assets under management in all of our business channels as well as working to improve our operating results”.
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