Spear Financial Reports $7,340 Loss in 1st Quarter

Spear Financial Services said it lost $7,340 in the first quarter that ended March 31, contrasted with a profit of $61,074 a year earlier. Spear, a Glendale-based stock brokerage and insurance-products marketer, said the year-earlier profit included a $21,051 tax benefit.

Spear’s revenue increased 17% in the first quarter, to $5.36 million from $4.59 million a year earlier.