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BRIEF-Torstar reports Q1 loss per share C$0.30

May 3 Torstar Corp:

* Torstar Corporation reports first quarter results

* Q1 adjusted loss per share c$0.22

* Q1 loss per share c$0.30

* Segmented revenue was $156.7 million in q1 of 2017, down $18.1 million from $174.8 million in q1 of 2016

* Total segmented restructuring and other charges were $4.9 million in q1 of 2017

* Net savings related to restructuring initiatives undertaken through end of q1 of 2017 are expected to be $13.0 million in balance of 2017

* Restructuring charges in q1 included a charge of $22.4 million for severance, facility related to decision to outsource printing of Toronto Star

* Expect that any impact of price increases for newsprint will continue to be more than offset by lower consumption in balance of year

* Currently expect that flyer distribution revenues will decline modestly in balance of year

* Subscriber revenues declined moderately in q1 of 2017 and this trend is expected to continue in balance of year.

* Cost reduction will remain an important area of focus for us in balance of 2017

* Net savings related to restructuring initiatives undertaken through end of q1 of 2017 are expected to be $13.0 million in balance of 2017 Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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