May 9, 2018 / 10:51 AM / 7 months ago

BRIEF-Torstar Reports Q1 Loss Per Share Of C$0.18

May 9 (Reuters) - Torstar Corp:

* Q1 LOSS PER SHARE C$0.18

* RESTRUCTURING INITIATIVES UNDERTAKEN IN Q1 OF 2018 ARE EXPECTED TO RESULT IN ANNUALIZED NET SAVINGS OF $5.3 MILLION

* ANTICIPATE TO INCUR AN ESTIMATED $11 - $13 MILLION OF INCREMENTAL OPERATING EXPENSES RELATED TO TRANSFORMATION EFFORTS FOR FULL YEAR IN 2018

* TORSTAR - RESTRUCTURING INITIATIVES IN Q1 RESULTED IN REDUCTION OF ABOUT 100 POSITIONS WITH $4.9 MILLION SAVINGS EXPECTED TO BE REALIZED IN 2018

* CONTINUE TO ANTICIPATE THAT CAPITAL EXPENDITURES FOR FULL YEAR 2018 WILL BE IN RANGE OF $15 MILLION

* SUBSCRIBER REVENUES WERE STABLE IN Q1, HOWEVER, EXPECT THESE REVENUES WILL DECREASE MARGINALLY IN BALANCE OF 2018 Source text for Eikon: Further company coverage:

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