Mer Telemanagement Solutions Ltd. (MTSL) saw its loss widen to $0.90 million, or $0.10 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $0.22 million, or $0.03 a share. On an adjusted basis, net loss for the quarter was $0.51 million, when compared with net profit $0.03 million in the last year period.

Revenue during the quarter dropped 27.87 percent to $2.41 million from $3.34 million in the previous year period. Gross margin for the quarter contracted 49 basis points over the previous year period to 50.91 percent. Operating margin for the quarter stood at negative 40.55 percent as compared to a negative 6.49 percent for the previous year period.

Operating loss for the quarter was $0.98 million, compared with an operating loss of $0.22 million in the previous year period.

Mr. Haim Mer, chairman of the Board of MTS, said, "We continue to execute our plan to return to profitability during the latter part of 2017, as we announced last quarter. We began implementing this strategy in the first quarter of 2017 and expect to complete the process by the end of the second quarter. We have taken further steps to reduce operational expenses in our Vexigo division, to enable Vexigo to concentrate on its core digital advertising business. As a result of these actions, we believe that our ongoing operating expenses will decline substantially in the second quarter."