17 March 2010
Transcontinental first quarter reports profitability up
MONTREAL—Greater efficiency, cost rationalization and the re-organization of certain plants, produced higher profitability for Transcontinental in the first quarter of 2010, compared to 2009. This is the third quarter in a row for profitability for the company. Revenue was down 11% from last year, due to the negative impact of the exchange rate, the divestiture or closure of plants and publications, and paper prices, according to a company press release.

Transcontinental posted revenues of $559 million, for the three months ended January 31, 2010, a decrease from the $625 million for the same period in 2009. Net income climbed to $26.2 million in the quarter, from a loss of $6.4 million in 2009. Operating costs were down to $417 million for the first quarter of 2010 from $493 million last year.

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