Acquisitions Drive Transcontinental’s Revenue Gains for the Quarter

Net income applicable to participating shares declined 74 percent, from $31.5 million to $8.1 million. This decrease is mainly due to restructuring, integration and acquisition costs related to the acquisition of Quad/Graphics Canada, Inc., to net income from discontinued operations namely, one- and two-color book printing, and to the reduction in adjusted operating income. Excluding unusual items and discontinued operations, adjusted net income applicable to participating shares was down 23 percent, from $32.5 million to $24.9 million.