Shares of Iress (ASX:IRE) declined by 11.1% to A$7.75 before making a slight recovery, ending the day down approximately 3.4%.

This financial services provider reported a full-year statutory net loss after tax of A$137.5 million, a stark contrast to the previous year’s profit of A$52.7 million.

Despite the losses, the company reported a growth in operating revenue of 2% to A$625.7 million.

During the day, around 1.2 million shares changed hands, significantly more than the 30-day average volume of 417,444 shares.

This has reduced the stock’s year-to-date gains from 7% to 3.3% as of the last close.

Iress is a leading provider of technology for wealth management, financial markets and trading industries.