The Alberta Securities Commission today reported a second quarter net loss of $935,000, compared to a net loss of $896,000 a year ago.

During the second quarter ended September 30, revenues fell by $297,000 compared to the prior period. Expenses for the same period decreased $258,000.

Registration revenues in the quarter were $295,000 less than a year ago because the National Registration system implemented April 1, 2003, accelerated the collection of registration fees during the first two quarters of fiscal 2004.

As well, revenues were less than budget because a fee increase included in the budget was deferred and is now tentatively planned for 2006, the ASC reports.

The ASC says year to date non-fee revenues exceed budget by approximately $500,000 while year end expenses may be $150,000 or more below budget based on current expectations. The regulator predicts this will result in a year-end loss, excluding use of contingency amounts that are currently not required, of approximately $1.5 million.