Transcontinental Reports Gains for Fiscal Year Despite Q4 Loss

Adjusted net income, which excludes asset impairment, restructuring costs and unusual adjustments to income taxes, rose 11%, from $127.2 million to $141.6 million. On a per-share basis, adjusted net earnings increased 15%, from $1.50 to $1.73; the higher percentage reflects the positive impact of the Corporation’s share buy-back program. Excluding the negative impact of the foreign exchange rate in fiscal 2008, adjusted earnings per share would have been $1.78, up 19% over 2007. This measurement is a good indicator of the Corporation’s operating performance in 2008.