Torstar Corporation Reports Second Quarter Results

Torstar Corporation (TSX:TS.B) today reported financial results for the second quarter ended June 30, 2017.

Highlights for the second quarter:
• Ended the second quarter of 2017 with $48.4 million of cash and cash equivalents and $9.1 million of restricted cash; Torstar has no bank indebtedness.
• Our net loss attributable to equity shareholders was $7.0 million ($0.09 per share) in the second quarter of 2017. This compares to a net loss of $23.9 million ($0.30 per share) in the second quarter of 2016.
• Adjusted loss per share was $0.03 in the second quarter of 2017, an improvement of $0.10 from adjusted loss per share of $0.13 in the second quarter of 2016. Adjusted loss per share in 2017 and 2016 included $0.24 and $0.50 per share effects of amortization and depreciation.
• Our segmented operating loss was $8.1 million in the second quarter of 2017 which included $19.2 million of non-cash amortization and depreciation expense as well as $6.2 million of restructuring and other charges.
• Our segmented adjusted EBITDA was $18.0 million in the second quarter of 2017, up $1.8 million from the prior year. Segmented adjusted EBITDA in the Digital Ventures segment was $6.9 million in the quarter which benefitted from 32% growth in adjusted EBITDA at VerticalScope (27% growth in USD). In the newspaper operations, the segmented adjusted EBITDA at the Star Media Group was $0.8 million, an improvement of $1.5 million, while segmented adjusted EBITDA at the Metroland Media Group was $12.7 million, down $1.2 million in the quarter.
• Segmented revenue was $180.8 million in the second quarter of 2017, down $15.7 million (8%) from $196.5 million in the second quarter of 2016 which included revenue growth of $2.0 million or 22% (17% growth in USD) from VerticalScope.
more detail at:  http://www.torstar.com/images/file/2017/Q2/2017%20Q2%20FS%20Press%20Release%20r52.pdf

Related Posts

IWCO Direct Announces Historic Strategic Investment

IWCO Direct announced a new strategic plan that features the largest investment in the history of the 52-year-old company. The investment of approximately $50 million will accelerate IWCO Direct’s evolution as a leading strategic solutions partner, well-positioned to meet the current and future needs of performance marketers. “With this historic investment in IWCO Direct, we will quickly and significantly enhance the value we can bring to marketers in delivering response and business impact through our strategy, creative, data, and campaign execution,” stated John Ashe, CEO of IWCO Direct.

Amazon.com Announces Financial Results

Net sales increased 38% to $386.1 billion, compared with $280.5 billion in 2019. Excluding the $1.4 billion favorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 37% compared with 2019. Operating income increased to $22.9 billion, compared with operating income of $14.5 billion in 2019. Net income increased to $21.3 billion, or $41.83 per diluted share, compared with net income of $11.6 billion, or $23.01 per diluted share, in 2019.

Cross-Border Postal Rates Will Increase on July 1 (mytotalretail.com)

Cross-border shipping rates will go up for many U.S. shippers on July 1. This change comes after countries began to self-declare postal rates based on the deal reached by the Universal Postal Union (UPU) in September, Supply Chain Dive reported. Many postage sellers, consolidators and other cross-border service providers such as FedEx, UPS and Stamps.com, received new contracts from USPS last month, but many haven't yet alerted shippers of the change. Without direct communication from service providers, shippers may be confused when their rates go up, unsure what the increase is for. Supply Chain Dive reported that any business that is a bulk cross-border shipper will see a rate increase.
Back To Top
×Close search
Search