Transcontinental’s third-quarter net income rises to $32.4 million

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MONTREAL  (CP) ‚ÄĒ Transcontinental Inc. (TSX: TCL.B), owners of the Truro Daily News, is reporting a more profitable third quarter.

Net income rose to $32.4 million, or 42 cents per share, in the three months ended July 31, up from $8.1 million, or 10 cents per share, in the same quarter last year when the company recognized unusual costs related to its acquisition of Quad/Graphics Canada. Excluding unusual items, Transcontinental’s adjusted net income was up 43.4 per cent compared with a year ago, rising to $35.7 million from $24.9 million. Revenues decreased 4.5 per cent to $493.8 million from $517 million year-over-year, mainly due to the end of the Zellers flyers contract.

Organizations: Transcontinental Inc., TSX, Truro Daily News Quad/Graphics Canada Zellers

Geographic location: MONTREAL

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