Shares of Dye & Durham Ltd. were down Monday morning after the company reported a widened loss in its fiscal second quarter as real estate markets faced headwinds.
At 9:50 a.m. ET, shares were trading 6.2% lower, at 19.82 Canadian dollars (US$14.84).
For the three months ended Dec. 31, the Toronto-based legal software company said loss widened by C$30.8 million from a year ago, to reach a loss of C$34.8 million.
Revenue also fell about 3% from a year ago, to C$106.7 million, missing analyst expectations of C$115.1 million.
Dye & Durham blamed its lower performance on a downturn in real-estate-transaction volumes globally, including in Canada.