Jovian Capital Corp. today reported a narrower loss for the second quarter ended September 30.

“Results for the three months reflect our ability to stabilize revenue sources during a quarter challenged by poor investor sentiment and difficult capital markets,” says Philip Armstrong, CEO of Jovian. “Success in our recurring business helps generate positive momentum as we enter the second half of the year.”

Jovian reported a quarterly loss of $2.7 million, or 2¢ a share, compared with a loss of $3.6 million, or 3¢ a share, in the year-earlier period..

Revenue for the quarter rose 9% to $22.9, compared with $21 million a year ago.

Total expenses for the quarter were $25.5 million compared to $24.6 million in the corresponding quarter of the prior year.

The Jovian group of companies operates as a national financial services organization with approximately $14.6 billion of client assets ($5.4 billion in assets under management and $9.2 billion in assets under administration).