06:29 AM EDT, 06/19/2024 (MT Newswires) -- Andrew Peller (ADW-A.TO, ADW-B.TO) overnight Tuesday said its fiscal fourth quarter loss narrowed as revenue rose 9.4% mainly due to the $5.8 million recognized as other revenue relating to the revised Ontario VQA Support Program.

The company reported a fiscal fourth-quarter net loss of $6.9 million, or $0.17 per Class A share, compared with a loss of $10 million, or $0.24 per Class A share, a year earlier.

Revenue for the quarter ended March 31 was $85 million, up from $77.7 million a year ago.

The gross margin for fiscal Q4 was 41.8% versus 28.4% a year earlier. EBITA for the quarter was $9.3 million, as compared with an EBITA loss of $1.2 million a year earlier.

The company's board approved a quarterly dividend of $0.0615 per Class A share and $0.0535 per Class B share. The dividend will be paid on July 12 to shareholders of record on June 28.