Wednesday, July 30, 2014

Torstar reports stable second-quarter earnings

Torstar Corp., publisher of the Toronto Star, reported stable earnings in its second quarter despite continuing challenges in print advertising, the company said.
Segmented adjusted earnings before interest, taxes, depreciation and amortization, commonly known as EBITDA, were $32.5 million for the three months ended June 30. That’s down $1.1 million from $33.6 million in the second quarter of 2013, Torstar said Wednesday.
Total segmented revenue was $237.3 million for the quarter. That’s down $18.1 million, or 7.1 per cent, from $255.4 million in the year-earlier period.
Net income attributable to equity shareholders was $19.7 million, or 25 cents per share, in the quarter, up $1.7 million from $18 million in the year-earlier period, the company said.


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