Losses Increase; Revs Drop

Strange turn for Its revenues–at $8.7 million–have dropped 5 percent since last quarter, even though they rose 30 perent form the year-ago quarter. The company’s electronic publishing segment recorded net revenue of $7.7 million, a 21% increase over the same period last year and a 3% decrease from last quarter. The research group hurt them this quarter: Independent Research Group, the company’s securities research and brokerage segment, recorded net revenue of $1.0 million, a decrease of $0.2 million from Q2.

Net loss was $1.2 million, on a one-time, non-cash lease termination charge of $0.4 million related to the exit of its Wall Street office space. Without this charge, net loss would have been $0.8 million.

“We certainly saw that investor concerns about the economy, as evidenced by the lowest level of NYSE trading volume in almost three years, contributed to the challenges we faced during the third quarter,” said Thomas Clarke, CEO of, in a statement…

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