05:08 PM EDT, 05/14/2024 (MT Newswires) -- Dye & Durham ( DYNDF ) on said its fiscal third-quarter loss widened even as revenue rose.

The company said it lost $39.7 million, in the quarter ended March 31, a 13%, or $4.6 million increase over last year.

The company, which provides practice management solutions for legal professionals, said revenue rose to $107.3 million, from $104 million.

The board also approved a substantial issuer bid, to repurchase for cancellation all remaining 3.75% convertible senior unsecured debentures due March 1, 2026. The offer would pay down up to $185 million of overall debt. Dye & Durham ( DYNDF ) is making the offer at a purchase price of $900 per $1,000 of debenture face value for a maximum aggregate purchase price of $166.5 million. It expects to announce the terms and commence the offer on May 17.

A quarterly dividend of $0.01875 per share was declared, payable on or about May 28.

Dye & Durham ( DYNDF ) shares closed up $0.05 to $14.15 on the Toronto Stock Exchange.