Burnaby's Extreme CCTV Inc. (TSX:EXC) reported its first quarterly loss in over two years due to costs associated with the surveillance camera manufacturer's sale to Robert Bosch GmbH.
The $93 million deal announced in mid-December resulted in $600,000 in transaction-related costs that led to a quarterly loss of $474,000 for its first quarter ending December 31, 2007. That compared with a net profit of $351,000 in the same quarter a year earlier.
Disappointing revenue from Extreme's European division also contributed to the quarterly loss. First-quarter revenue fell slightly to $9.9 million from $10.1 million.
Extreme CCTV's share price range during the past week: between $4.94 and $4.98; 52-week high: $5; 52-week low: $2.75.