Business
Transcontinental Inc.'s adjusted operating income increases for third consecutive quarter
Highlights Increase of 1.8% in adjusted operating income. Decrease of 2...
About this update from Transcontinental Inc. Class A
[{"type":"text","content":"\n\n\nHighlights\n\n\n\n\n\n\n\n(in millions of dollars, except per share data)\n\n\nQ2-13\n\n\nQ2-12\n\n\n%\n\n\nYTD 2013\n\n\nYTD 2012\n\n\n%\n\n\n\n\nRevenues\n\n\n521.3\n\n\n522.4\n\n\n(0.2)%\n\n\n1,050.0\n\n\n1,010.0\n\n\n4.0%\n\n\n\n\nAdjusted operating income before amortization (1) (Adjusted EBITDA)\n\n\n83.3\n\n\n83.8\n\n\n(0.6)%\n\n\n154.9\n\n\n155.2\n\n\n(0.2)%\n\n\n\n\nAdjusted operating income (1) (Adjusted EBIT)\n\n\n56.9\n\n\n55.9\n\n\n1.8%\n\n\n102.6\n\n\n98.9\n\n\n3.7%\n\n\n\n\nAdjusted net income applicable to participating shares (1)\n\n\n34.8\n\n\n35.5\n\n\n(2.0)%\n\n\n63.3\n\n\n62.6\n\n\n1.1%\n\n\n\n\nPer share\n\n\n0.44\n\n\n0.44\n\n\n-\n\n\n\n0.81\n\n\n0.77\n\n\n5.2%\n\n\n\n\nNet income applicable to participating shares\n\n\n27.5\n\n\n(106.2)\n\n\n-\n\n\n45.3\n\n\n(139.5)\n\n\n-\n\n\n\n\nPer share\n\n\n0.35\n\n\n(1.31)\n\n\n-\n\n\n0.58\n\n\n(1.72)\n\n\n-\n\n\n\n\n\n\n\nNote 1: Please refer to the table \"Reconciliation of Non-IFRS financial\n measures\" in this press release.\n\n\n\n\n\n\n\n\nIncrease of 1.8% in adjusted operating income.\n\n\nDecrease of 2.0% in adjusted net income applicable to participating\n shares.\n\n\nPayment of special dividend of $1.00 per participating share or\n approximately $78 million.\n\n\nAchieved more than $30 million, to date, in synergies from the\n acquisition of Quad/Graphics Canada, Inc.\n\n\nRenewed several multi-year printing contracts worth more than\n $200 million.\n\n\nChallenging market conditions with respect to advertising spending\n continued to affect our Media Sector.\n\n\nMaintained a solid financial position with a net indebtedness ratio of\n 1.05x.\n\n\nRenewed the Corporation's normal course issuer bid.\n\n\n\n \n\n\nMONTREAL, June 6, 2013 /CNW Telbec/ - Transcontinental Inc.'s (TSX:\n TCL.A TCL.B TCL.PR.D) second-quarter revenues remained fairly stable,\n from $522.4 million in 2012 to $521.3 million in 2013. The acquisition\n of the printing operations of Quad/Graphics Canada, Inc., the digital\n operations of Redux Media and some publishing activities in the Media\n Sector helped stabilize revenues, which were adversely affected by the\n termination of the Zellers flyer printing and distribution contract due\n to Zellers' store closures, by a more difficult advertising environment\n and by incentives granted upon the renewal of certai...