Jovian Capital Corp. posted a wider loss for the third quarter ended Dec. 31 after taking a one-time non-cash charge totalling $9.4 million.

The financial services holding company said Wednesday that it lost $12.9 million, or 8¢ cents a share for the quarter. That compared with a loss of $1.9 million, or 2¢ a share, in the year earlier period.

Revenue in the quarter totalled $22.2 million, down from $25.9 million a year ago.

Client assets were $12.7 billion at the end of the quarter, versus $14.5 billion at the end of Dec. 31, 2007, and $14.1 billion at the end of Sept. 30, 2008.

“In response to continued market volatility, we have taken steps to reduce our cost structure over the past few quarters, and plan to carefully monitor economic and financial developments to determine if further initiatives are required,” said Jovian CEO Philip Armstrong in a release.

The Jovian group of companies includes AlphaPro Management Inc., BetaPro Management Inc., Horizons Funds Inc., JovFunds Inc., JovFunds Management Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc., MGI Securities Inc., MGI Securities (USA) Inc., MGI Financial Inc., T.E. Wealth and Felcom Data Services Inc.

IE