Transcontinental has improved first quarter results
Transcontinental Inc. confirms that it received $100 million by selling its U.S. direct mail business, as it reports positive news for its first quarter ended January 31, according to a story in Canadian Press. The Montreal-based printer and magazine publisher earned $27.9 million in profit for Q1, compared with a $6.4 million loss in the same period a year ago. Net earnings were 32 cents a chare (versus an 8-cent loss a year ago). This was despite revenues being down 11 per cent to $559 million.
"I attribute our strong performance to four main factors: continued customer confidence in our products and services, the reorganization and sale of some of our operations, the rationalization plan that we quickly implemented last year, and the concerted efforts by our employees to develop greater efficiency [said president and CEO Francois Olivier]"The company's announcement cautioned that some segments of their business were "sensitive to market conditions" -- specifically magazine, book and catalogue printing, which was likely to experience lower page and copy counts, with less demand for specialty products.
Through its Transcontinental Media division, the company is Canada's leading publisher of consumer magazines.
Labels: Transcontinental
posted by D. B. Scott at
10:34 am
3 Comments:
Excellent! Then I am assuming that their valued contributors can expect to be paid even more! Or perhaps retain full control of their rights, at least.
Anonymous 1 - You just don't get it do you? Why pay more for something that people are willing to do for next to nothing?
If printers were willing to work for free printing would be cheaper. If landlords didn't want a min. 8% cap rate rent would be cheaper.
If freelance contributors willing to work for, well, free then rates would be higher.
@Anon 2:
Um, I was being facetious. Clearly.
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