Investors Capital Holdings has reported a net loss for the first quarter ended June 30, 2008 of $0.27 million, or $0.04 per share, versus net income of $0.47 million, or $0.08 per share, for the comparative quarter ended June 30, 2007.

For the period, the company has posted revenues of $22.9 million, representing a 0.6% increase over $22.7 million for the same period last year.

The company has reported that advisory fee revenue surged 38% for the quarter to $3 million versus $2.2 million for the prior-year period. Commissions, which represent the bulk of the company’s revenues, dipped 2.2% to $19.3 million from $19.7 million.