Shares of specialty retailer Sport Chalet fell early Tuesday in reaction to the company’s announcement of another money-losing quarter.

The company reported a net loss of $1.9 million, or 14 cents per share, for its first quarter after the markets closed on Monday. While the earnings are an improvement over the same period last year – a loss of $3 million or 21 cents per share – this marks the 10th consecutive quarterly loss for the company, based in La Canada-Flintridge.

In the recent announcement, Chief Executive Craig Levra said the company improved its efficiency during the quarter and blamed its performance on the poor economy.

“The trade areas in which our stores are located continue to suffer the most from the economic downturn; every indicator suggests that California, Arizona, and Nevada, where 98 percent of our stores are located, will continue to be the hardest hit,” he said in a statement. “That being said, we believe that our business has stabilized.”

Shares of Sport Chalet dropped 10 percent in early trading Tuesday. But by mid-day they had recovered somewhat to $2.25, a loss of 17 cents or 7 percent from the previous close.