02/06/2013 05:05 EST | Updated 04/08/2013 05:12 EDT

Cash Store swings to Q1 loss on expenses related to restating results

EDMONTON - The Cash Store Financial Services Inc. (TSX:CSF) says it swung to a loss in its first quarter mainly because of expenses associated with restating its results for the second and third quarters of fiscal 2012. The lender says it had a net loss of $1.7 million, or nine cents per diluted share, compared to net income of $989,000, or six cents per share, in the year earlier period. However, revenue for the fiscal first quarter came in at $49.5 million, up from 45.8 million year over year. Loan volume was also up at $203.5 million compared to $199.6 million in the year earlier period.