reason for the reduced lossesIt is not through some sudden flah of brilliance on behalf of the OSI execs that briught losses down, without ths tax break the losses wouls be even worse than last year. See below
OTTAWA - An income tax recovery helped OSI Geospatial Inc. (TSX:OSI) post a lower loss in the second quarter despite a nearly 20 per cent decline in revenue.
The Ottawa-based company, which specializes in digital mapping, said it lost $750,000 in the three months ended May 31, down from a year-ago loss of $1.1 million. Both losses equalled two cents a share.
The company said it recovered $311,000 of taxes in the recently-concluded period compared with a tax expense of $20,000 last year.