Torstar Corp. re­ports $7-mil­lion sec­ond-quar­ter loss

Cape Breton Post - - Business -

TORONTO - Torstar Corp. (TSX:TS.B) has re­ported a loss of $7 mil­lion in its lat­est quar­ter com­pared with a loss of $23.9 mil­lion a year ago. The publisher of the Toronto Star says the loss amounted to nine cents per share for the quar­ter ended June 30 com­pared with a loss of 30 cents per share a year ago. Op­er­at­ing rev­enue to­talled $161.8 mil­lion for what was the com­pany’s sec­ond quar­ter, down from $177.9 mil­lion a year ear­lier.

Torstar says the quar­ter in­cluded a $6.3-mil­lion non­cash amor­ti­za­tion and de­pre­ci­a­tion charge re­lated to its in­vest­ment in dig­i­tal me­dia com­pany Ver­ti­cal-Scope and $6.1 mil­lion in re­struc­tur­ing charges.

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