* Q1 loss/shr $0.93 vs loss/shr $11.30 year-ago
* Q1 rev triples
May 17 (Reuters) - ISE Ltd ISE.TO, a maker of heavy duty hybrid-electric drive systems, posted a narrower first-quarter loss helped by lower expenses.
Net loss for the quarter was $4.7 million, or 93 cents a share, compared with a loss of $5.8 million, or $11.30 a share, a year ago.
Revenue more than tripled to $11.04 million.
Analysts on average were expecting the company to post a loss of 22 cents a share on revenue of $11.7 million, according to Thomson Reuters I/B/E/S.
The number of outstanding shares rose to 6.7 million from 708,804 last year.
The company said operating expenses fell 16 percent to $3.6 million, while research and development expenses dropped 42 percent.
The company had said in March that its auditors had expressed substantial doubt about the company’s ability to continue as a going concern. [ID:nSGE62T0FE]
The company reaffirmed that it does not expect sales in the second half of 2010 to match the $35 million it recorded in the year-ago period, but sees sales in the first half increasing over the previous year.
Shares of the company closed C$2.60 Monday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Roshni Menon) (firstname.lastname@example.org; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: email@example.com))