A beat StorageVault Canada Inc. increased its dividend and reported first-quarter revenue rose to $57.5-million compared to $43.3-million a year ago and beat expectations of $56.6-million.
The company said its net loss of $8.6-million (versus a net loss of $11.4-million a year ago) is mainly after $21.6-million of depreciation and amortization, $2.8-million of unrealized loss on derivative financial instruments and deferred tax recovery recorded in the quarter of $1.4-million. It said all three of these amounts are non-cash items.
StorageVault also announced an increase in its quarterly dividend by 0.5 per cent to $0.002789 per common share.