Issuer Direct Corp., which provides communications and compliance services to companies, reported a 72.1 percent decline in income despite an increase in revenue in the third quarter.

The Morrisville-based company reported net income of $86,000, or 2 cents per share, down 72.1 percent from net income of $308,000, or 10 cents per share in the third quarter a year ago.

Revenue rose 11 percent to $3.3 million from $2.9 million in the same quarter a year ago. There are no analyst estimates for the company.

Issuer Direct’s decline in operating income is primarily due to investments the company is making in order to increase its customer count. These investments led to increases in general and administrative expenses, sales and marketing expenses and product development expenses.

“While these investments put pressure on operating results in the short-term, we anticipate they will position us for future growth,” said Chief Executive Officer Brian Balbirnie in a statement.

Issuer Direct’s stock fell 10 cents, or 0.7 percent, to $14.60 in Thursday trading.

Last month, the company decided to suspend its 5-cent quarterly dividend in order to fund future business opportunities.

The company had 2,143 platform and technology customers at the end of the quarter, up from 1,582 at the end of the same quarter a year ago.

Its service customers totaled 679 at the end of the quarter, up from 493 at the end of the 2017 third quarter.