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Kingsway Financial Q1 net loss widens YOY

Kingsway Financial Services Inc. posted a first-quarter net loss attributable to common shareholders of about $2.3 million, or 11 cents per share, compared to a loss of $1.8 million, or 8 cents per share, in the year-ago period.

Results for the most recent quarter include a noncash loss of $900,000 attributable to change in fair value of debt, while first-quarter 2017 results included a noncash loss of $1.9 million attributable to change in fair value of debt.

The company had first-quarter operating income of $430,000, compared to an operating loss of $638,000 in the prior-year quarter.

Total revenues were $45.7 million, slightly down from $46.7 million in the year-ago quarter.