Dorchester Pacific lost $1.6 million in the year to March.
The finance and insurance company says most of that is due to a $1.4 million loss from revaluing the capital restructuring plan which allowed it to emerge from a moratorium two years ago.
Revenue fell 2% to $9.8 million.
Dorchester says its aim is to break even on a monthly basis, and then deal with its 2013 notes which are due for repayment in June next year.
