May 4, 2016 / 10:52 AM / a year ago

BRIEF-Torstar Corp reports Q1 adjusted loss per share c$0.40

May 4 (Reuters) - Torstar Corp

* Torstar Corporation reports first quarter results

* Q1 loss per share c$0.66 from continuing operations

* Q1 adjusted loss per share c$0.40

* Says segmented revenue was $174.8 million in Q1 of 2016, down $17.5 million

* Challenges experienced by Metroland Media Group and Star Media Group expected to continue in balance of year

* Early indications at Metroland Media Group are that rate of print advertising revenue decline in April has moderated relative to Q1

* Subscriber revenues declined moderately in Q1 of 2016 and this trend is expected to continue in balance of year

* Newsprint pricing has increased in 2016

* Have initiated sale process of printing facility and land in vaughan and have been “pleased with level of interest”

* Q1 revenue view c$170.0 million -- Thomson Reuters I/B/E/S

* Net savings related to restructuring initiatives undertaken through end of q1 of 2016 are expected to be $20.7 million in balance of 2016

* Torstar Corp sees flyer distribution revenues will experience moderate declines in balance of 2016

* Paywall at Toronto Star was eliminated effective April 1, 2015

* Q1 earnings per share view c$-0.21 -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below