Smart Technologies Q2 Loss Narrows - Quick Facts

(RTTNews) - Smart Technologies Inc. (SMT, SMA.TO) Thursday said fourth-quarter loss narrowed to $3.6 million or $0.03 per share from $18.7 million or $0.15 per share in the same period last year.

Adjusted loss for the quarter was $5.8 million or $0.05 per share. On average, four analysts polled by Thomson Reuters expected the company to report a loss of $0.06 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $124.2 million from $105.2 million. Adjusted revenues for the quarter totaled $108.7 million.

Additionally, the company has appointed Michael Mueller as Chairman of the Board, effective immediately. Robert Hagerty, who was Acting Chairman of Board, will continue in his role as an independent director.

Meanwhile, the Board will begin a search for new independent members. The Board currently consists of five members, three of whom are independent.

Mueller currently served as the director of the company and Chair of the Audit Committee. He retired from the audit firm PricewaterhouseCoopers in 2007 as the Global Leader of PwC's Private Company Services/Middle Market Practice.