Alloy Inc. posted a net loss of $1.7 million for the first quarter, compared to a net loss of $1.2 million in the prior year.

The direct marketer reported revenue of $37.8 million for the quarter ended April 30, a 16% decline from revenue of $44.8 million last year.

The New York company attributed these results to softness in demand.

Alloy Inc. reported a net loss of $15.9 million for the first quarter compared to a net loss of $9.2 million last year.

The direct marketer reported revenue of $87.7 million for the quarter ended April 30, up 4.6% from $83.9 million last year.

“We are pleased to report that we made meaningful progress toward improved sustained profitability in both our merchandising and sponsorship businesses,” said Matt Diamond, CEO of the New York-based company, in a statement.