May 16, 2008 / 1:02 AM / 9 years ago

Quebecor World posts $190 mln net loss in 1st qtr

(In U.S. dollars unless noted)

TORONTO, May 15 (Reuters) - Quebecor World Inc IQW.TO, the commercial printer restructuring under court protection from creditors, reported a first-quarter loss on Thursday.

The company, which is controlled by media group Quebecor Inc (QBRa.TO), reported a net loss of $190 million, or $1.29 per share, for the three months ended March 31, compared with a net loss of $38.1 million, or 34 cents per share, in the same period last year.

The first-quarter results included impairment of assets, restructuring and other charges (IAROC) net of income taxes of $38.0 million, or 26 cents per share, compared with $23.1 million, or 17 cents per share, in the same period in 2007.

Excluding IAROC, the adjusted net loss was $152 million, or $1.03 per share, in the first quarter of 2008, compared with an adjusted net loss of $15 million, or 17 cents per share, for the first three months of last year.

Quebecor World, which filed for court protection in late January, has about 28,000 employees around the world and prints products such as magazines, books and advertising materials.

On Wednesday, Quebecor Inc announced the delay of its first-quarter results. The company expects to release its report in early June.

Quebecor World shares closed at 23 Canadian cents on the Toronto Stock Exchange on Thursday. About a year ago, the shares were trading at C$15.50 each.

$1=$1.00 Canadian Reporting by Renato Andrade, editing by Richard Chang

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