August 4, 2010 / 10:50 AM / 7 years ago

UPDATE 1-Canada's TSO3 posts narrower Q2 loss; CFO to leave co

* Q2 loss C$0.03/shr vs loss of C$0.05/shr last year

* Revenue falls 3 pct

Aug 4 (Reuters) - TSO3 Inc (TOS.TO), which designs sterilization technology for medical devices, posted a narrower second-quarter loss, helped by a 12 percent drop in expenses, and said its chief financial officer will be leaving the company.

TSO3 said CFO Marc Boisjoli has decided to pursue other opportunities outside of the company.

Net loss for the quarter was C$1.9 million, or 3 Canadian cents a share, compared with a loss of C$2.3 million, or 5 Canadian cents a share, a year ago.

Revenue fell to C$494,353.

The company said expenses for the quarter totaled C$2.5 million, down from C$2.8 million last year.

Shares of the Ste-Foy, Quebec-based company closed at C$1.43 Tuesday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Anne Pallivathuckal)

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