May 12, 2010 / 10:39 AM / 7 years ago

UPDATE 1-TSO3 posts wider Q1 loss as sterilizer sales fall

* Q1 loss/shr C$0.04 vs loss/shr C$0.04 yr ago

* Q1 revenue down 73 pct to C$144,228

May 12 (Reuters) - TSO3 Inc (TOS.TO), which designs sterilization technology for medical devices, reported a slightly wider quarterly loss, as sales of its sterilizers fell sharply.

For the first quarter, net loss was C$2.0 million ($1.96 million), or 4 Canadian cents per share, compared with C$1.9 million, or 4 Canadian cents per share, a year ago.

Revenue fell 73 percent to C$144,228.

The company’s loss per share was unchanged due to the increase in number of shares outstanding.

Shares of Ste-Foy, Quebec-based TSO3, which have lost nearly 29 percent of their value so far this year, closed at C$1.43 Tuesday on the Toronto Stock Exchange. ($1=1.021 Canadian dollar) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Unnikrishnan Nair)

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