Transcontinental Again Generates Organic Revenue and Profit Growth

Net income applicable to participating shares went from $67.0 million to $33.0 million. This decrease is mainly due to a gain related to the discontinuance of direct mail operations in the United States in the second quarter of 2010. Excluding unusual items, adjusted net income applicable to participating shares increased 18 percent, from $34.1 million to $40.1 million.