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