Transcontinental Has Strong Profitability Gain on Lower Revenue in Q1

Adjusted operating income before amortization rose from $58.3 million to $82.4 million, up a significant 41%, mainly due to the impact of the rationalization measures implemented in 2009 to combat the recession.

Net income applicable to participating shares rose substantially, from a loss of $6.4 million in first quarter 2009 to a gain of $26.2 million; on a per-share basis, it went from a loss of $0.08 to a gain of $0.32. Adjusted net income applicable to participating shares, which does not take into account unusual items related to asset impairment, restructuring costs and income tax adjustments, also grew substantially, from $15.1 million to $25.3 million; on a per-share basis, net income applicable to participating shares rose from $0.19 to $0.31.