07:19 AM EST, 11/13/2025 (MT Newswires) -- Dye & Durham ( DYNDF ) overnight Wednesday released its preliminary fiscal 2025 and first-quarter results. The company is also applying to extend the voluntary Management Cease Trade Order beyond Nov. 29 so that it can complete the Ontario Securities Commission review.

Preliminary net loss for fiscal 2025 narrowed to $82.7 million, from $174.3 million in 2024, mainly due to lower finance costs.

The company recorded a 3.7% decline in revenue, to $440.6 million, reflecting macroeconomic headwinds in Canada, the impact of customer contract renewals on volume and pricing, and reduced acquisition activity.

For fiscal 2026 first-quarter, net loss widened to $39.2 million, from a net loss of $9.3 million, mainly due to lower revenue and higher finance costs. Revenue declined 9% to $109.4 million.

Dye & Durham ( DYNDF ) expects to be in compliance with the financial covenants under its senior credit agreement for the quarters ended June 30 and Sept. 30. The sale of Credas for $146 million, which is expected to close by January, will reduce leverage and strengthen liquidity, a statement said.

A transformation program that was launched a few months ago is expected to deliver annualized run-rate savings of $15 million to $20 million by the end of FY 2027.