8 December 2010
Transcontinental net income up in fourth quarter
MONTRÉAL—Transcontinental’s revenue remained steady at $570 million for its fourth quarter, which ended October 31 versus the same period in 2009. It reported its end of year revenue as $2,091.6 million, down from $2,169.8 million for the same period last year.

Net income was up in the fourth quarter, sitting at $44.5 million from $43.1 for the same period in 2009. Its final net income for the fiscal year is also up considerably from 2009. It is $166.6 million versus -$82.3 million in 2009.

Transcontinental said its future growth will be based on its ability to offer web-based personalized advertising and interactive marketing solutions. To this end, the company changed the name of its marketing sector to the interactive sector this fall and purchased integrated mobile solutions companies LIPSO and Vortex Mobile.

Though the company is closing two of its plants on December 17, in Boucherville, Québec and Moncton it said printing remains one of Transcontinental’s core competencies. Its 18-year, $1.7 billion deal with The Globe and Mail became fully operational in October and will bring in $25 million of new business each year, according to the company’s financial report. 

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