UPDATE 2-FirstService posts narrower Q1 loss

* Q1 loss/shr $0.02 vs loss/shr $1.54

* Q1 adj EPS $0.15

* Rev up 11 pct
(Adds details; recasts)

April 28 (BestGrowthStock) – Canadian property management company
FirstService Corp (FSV.TO: ) posted a narrower quarterly loss,
helped mainly by growth in its commercial estate services
division.

Net loss in the first quarter shrunk to $526,000, or 2
cents a share, from $48.5 million, or $1.54 a share, a year
earlier.

On an adjusted basis, the company posted earnings of 15
cents a share.

Analysts on average were expecting the company to earn 17
cents a share, according to Thomson Reuters I/B/E/S.

Revenue was up 11 percent to $402.4 million, helped by a 30
percent rise in sales at Colliers International, the company’s
commercial real estate services arm.

Colliers posted a profit for the first time since 2007,
reflecting an improvement in the real estate markets, Chief
Executive Jay Hennick said in a statement.

Shares of the Toronto-based company closed at $24.55
Tuesday on the Toronto Stock Exchange.

Stock Research

(Reporting by Gowri Jayakumar in Bangalore; Editing by Roshni
Menon)

UPDATE 2-FirstService posts narrower Q1 loss