Transcontinental Sees Strong Improvement in Profitability

In the first six months of fiscal 2010, consolidated revenues were down 7%, from $1.10 billion to $1.02 billion, while adjusted operating income before amortization grew 26%, from $136.2 million to $172.1 million. Net income applicable to participating shares went from a loss of $150.7 million in the first half of 2009 to a gain of $93.2 million in the same period in 2010; on a per-participating share basis, net income applicable to participating shares went from a loss of $1.87 to a gain of $1.16. Adjusted net income applicable to participating shares rose 24%, from $49.3 million to $61.2 million; on a per-participating share basis, adjusted net income applicable to participating shares also rose 25%, from $0.61 to $0.76.