IPO expenses eat in to Stingray’s first public Q1

MONTREAL – In its first financial report since becoming a public company, Stingray Digital said that it has started its new fiscal year “on a solid note” despite posting a $1.77 million net loss.For the first quarter ended June 30, 2015, Stingray said that the loss was due primarily to costs related to the one-time IPO expenses and CRTC tangible benefits, and the related income tax impact. On an adjusted basis, net income increased 33.2% to $4.8 million, up from $3.6 million a year ago, as a result of its recent acquisitions combined with the signing of new international contracts, additional...