B. Riley Files Long-Overdue Report With Loss Instead of Profit

B. Riley Financial Inc. filed its long-delayed report for this year’s first quarter showing a loss of $12 million instead of the profit the firm had estimated earlier.

The loss, disclosed in a form 10-Q filing on Tuesday, contrasted with the Los Angeles-based company’s estimate of $1 million to $6 million of quarterly profit back in May, when B. Riley told shareholders it couldn’t make the deadline for filing the results with the US Securities and Exchange Commission.

The quarter’s loss narrowed from $51.2 million a year earlier, aided by some one-time gains. The operating loss swelled to $61.5 million ...