February 24, 2010 / 1:08 PM / in 8 years

UPDATE 1-FirstService quarterly net loss narrows

* Q4 adjusted EPS $0.27 vs $0.28 a yr-ago

* Q4 revenue up 11.5 pct (All figures in U.S. dollars)

TORONTO, Feb 24 (Reuters) - FirstService Corp FSV.TO said on Wednesday its quarterly loss narrowed, as the property management company’s results were impacted by fewer one-time items.

Net loss in the fourth-quarter ended Dec. 31 was $9.4 million, or 32 cents a share, compared with a year-ago loss of $60.3 million, or $1.36 a share.

Excluding charges related to discontinued operations and other one-time items, the company posted quarterly earnings of 27 cents a share, down from 28 cents a share, a year earlier.

Quarterly revenues rose 11.5 percent to $465.8 million, driven by growth in both its residential and commercial real estate services businesses. (Reporting by Euan Rocha, editing by Dave Zimmerman)

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