TORSTAR CORPORATION - Releases   [ Printer Version ]

TORSTAR CORPORATION REPORTS SECOND QUARTER RESULTS

• Torstar reported net income of $37.0 million ($0.47 per share) up $6.9 million ($0.09 per share) from $30.1 million ($0.38 per share) in 2007, an increase of 24%.    

• EBITDA (operating profit before restructuring provisions, interest, taxes, depreciation and amortization – see “Non-GAAP measures”) was up $6.0 million or 10.2% in the quarter from $58.8 million to $64.8 million. 

• Revenue of $399.5 million was up $2.5 million or 0.6% from $397.0 million and was up $5.9 million or 1.5% excluding the impact of foreign exchange. 

• A $4.4 million ($3.4 million or $0.04 per share, after tax) restructuring provision at Metroland Media Group was recorded in the second quarter of 2008. Annual savings are expected to be $5.0 million. 

• Torstar reported a net gain of $6.8 million ($5.6 million or $0.07 per share, after tax), which included the sale of excess land, in the second quarter of 2008. 

Net debt was $636.4 million at June 30, 2008, down $3.0 million from $639.4 million at March 31, 2008.

 

Click here to read a PDF of the full press release.

• Management Discussion and Analysis
• Financial Statements

Published: 2008-07-31

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