Torstar Corporation Reports Fourth Quarter Results

Torstar Corporation (TSX:TS.B) today reported financial results for the fourth quarter ended December 31, 2017.
Highlights for the fourth quarter:
•  In November 2017, we completed a transaction with Postmedia Network Inc. (“Postmedia”), in which we purchased and sold a number of daily and community newspapers. As part of the transaction, we acquired eight weekly community publications, seven daily community newspapers and two free daily newspapers from Postmedia. In addition, we sold 22 weekly community newspapers in eastern and southern Ontario and the Metro Winnipeg and Metro Ottawa free daily publications to Postmedia. Readers and advertisers of certain publications we acquired are now being serviced by one or more of our other Community properties while we continue to operate four daily newspapers acquired from Postmedia now included in our Daily Brands segment. This transaction is expected to contribute to an improvement in annualized operating earnings in the range of $5 million to $7 million.
•  Ended 2017 with $71.4 million of cash and cash equivalents as well as $9.1 million of restricted cash; Torstar has no bank indebtedness.
•  Cash provided by operating activities was $23.6 million in the fourth quarter of 2017 reflecting $31.6 million of cash generated by operating activities partially offset by an $8.1 million increase in working capital.
•  Our net income from continuing operations was $7.8 million ($0.10 per share) in the fourth quarter of 2017.  This compares to net income of $0.7 million ($0.01 per share) in the fourth quarter of 2016.
more detail at:  https://www.torstar.com/html/whats_new/index.cfm?view=article&wnID=201

Related Posts

Ulta Beauty Announces First Quarter Fiscal 2024 Results

First Quarter of Fiscal 2024 Compared to First Quarter of Fiscal 2023 *Net sales increased 3.5% to $2.7 billion compared to $2.6 billion, primarily due to increased comparable sales, new store contribution, and growth in other revenue. *Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 1.6% compared to the first quarter of fiscal 2023, driven by a 1.3% increase in transactions and a 0.3% increase in average ticket. *Gross profit increased 1.4% to $1.07 billion compared to $1.05 billion. As a percentage of net sales, gross profit decreased to 39.2% compared to 40.0%, primarily due to lower merchandise margins and higher inventory shrink, partially offset by growth in other revenue. *Operating income was $400.9 million, or 14.7% of net sales, compared to $442.1 million, or 16.8% of net sales.

Houghton Mifflin Harcourt Announces Strategic Restructuring to Accelerate Transformation, Align Cost Structure to Support Digital First, Connected Strategy

Houghton Mifflin Harcourt announced a strategic restructuring to accelerate its digital transformation and align its cost structure with its digital first, connected strategy. These steps will further streamline operations and better enable HMH to support teachers and students with digital first, connected solutions that drive successful outcomes in remote, face-to-face and hybrid learning environments.“The actions we announced today will help us to realize our digital first vision by creating a more focused company with increased recurring digital subscription revenue that produces higher margins and free cash flow. We recognize the personal impact these actions will have on our HMH team members. We thank our departing colleagues for their contributions and are committed to treating them in a respectful and compassionate way.” Joe Abbott, HMH’s Chief Financial Officer added, “The actions we’re taking are intended to drive billings growth, position us to build our recurring subscription revenue base, simplify and strengthen our business model, reduce costs, and generate sustained and positive free cash flow." The Company’s restructuring includes both labor-related and non-labor expense reductions. The labor-related reductions involve organizational changes resulting in a 22% reduction of HMH’s workforce, including positions eliminated as part of the previously announced Voluntary Retirement Incentive Program and net of newly created positions to support HMH’s digital first operations.

One-Step vs. Two-Step: Which Vinyl Print Media is Best for My Floor Graphic?

One-step sounds simple and easy. Two-step sounds a little more sophisticated and intricate. When it comes to selecting the right print vinyl media for your floor graphic, there’s actually quite a bit more to consider when choosing the product that will best help you create a graphic that dazzles the eye and provides the best value for you or your customer. The challenge is knowing the right questions to ask in order to select the vinyl print media that will help you create a superior floor graphic. Regardless of whether your challenge is easy application and removal or the widest variety of application surfaces, there is an ideal tool for this job — and Nekoosa has the right vinyl print media to help you get the job done. Let’s look at a couple of the most common questions about one-step and two-step vinyl print media to help you understand which is the best choice for your floor graphic.
Back To Top
×Close search
Search