05:18 PM EDT, 05/13/2024 (MT Newswires) -- Glacier Media Inc. ( GLMFF ) Monday said its first-quarter loss narrowed despite lower revenue.

The company said it C$4.43 million, or C$0.03 per share, in the period, compared with a loss of C$5.22 million. or C$0.04, in the year prior quarter.

Revenue dropped to $34.8 million from $39.22 million.

Capital expenditures for the period were reduced to $800,000 from $1.1 million in the comparative quarter.

As a result of its renewed vision, the company has revised its operating segments to reflect the focus on the environmental risk and compliance information, commodity information, and consumer digital information businesses.

The substantial 11.4% quarter-over-quarter revenue decline was primarily driven by the closure and sale of underperforming print community media operations and the sale of the mining media business.

Glacier shares closed down C$0.005 to C$0.08 on the Toronto Stock Exchange.