Torstar Corporation Reports First Quarter Results

    TORONTO, ONTARIO – (Marketwired – May 8, 2013) – Torstar Corporation (TSX:TS.B) today reported financial results for the first quarter ended March 31, 2013.

    Highlights for the quarter:

    ? Total Segmented Revenue was $332.4 million in the first quarter of 2013, down $18.4 million from $350.8 million in the first quarter of 2012.

    ? Total Segmented EBITDA (see “non-IFRS measures”) was $29.4 million in the first quarter of 2013, down $9.4 million from $38.8 million in the first quarter of 2012.

    ? Net income attributable to equity shareholders was $4.2 million ($0.05 per share) in the first quarter down $13.3 million ($0.17 per share) from $17.5 million ($0.22 per share) last year.

    ? Adjusted earnings per share (excluding restructuring and other charges and non-cash foreign exchange in both years, and gain on sale of assets in 2012) was $0.14 in the first quarter of 2013, down $0.08 from $0.22 in the first quarter of 2012.

    ? Net debt was $167.7 million at March 31, 2013, up $4.8 million from $162.9 million at December 31, 2012.

    ? Dividend to remain unchanged at an annualized rate of $0.525 per share.
     

    Click here to read a full PDF of the Press Release
    Management Discussion and Analysis
    Financial Statements

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