National Holdings, an investment banking company, has reported that its net loss attributable to common stockholders in the first quarter of fiscal 2009 was $1.23 million, or $0.07 per common share, compared to a net loss of $1.25 million, or $0.15 per common share, for the first quarter of fiscal 2008.
The company reported a net loss of $1.14 million in the first quarter of fiscal 2009, compared to a net loss of $1.17 million in the first quarter of fiscal 2008.
Revenues for the first quarter ended December 31, 2008 were $27.85 million, compared to $20.36 million for the same period in 2007, an increase of 37%. The increase in revenues is due primarily to the addition of vFinance revenues as a result of the previously announced merger which was completed in July 2008, according to National Holdings.
Mark Goldwasser, CEO of National Holdings, said: The market volatility resulted in a challenging first quarter; but despite this difficult environment, we were able to generate these results and positive adjusted earnings before interest, taxes, depreciation and amortization. In the face of continued pressure in the capital markets we have been diligent in managing our cash flow yet we believe we are well positioned to achieve greater success when the markets stabilize and improve.
