Transcontinental Posts Drop In Q1 Revenue

Transcontinental Inc

reported a loss in the first quarter. Transcontinental's net loss applicable to participating shares came in at C$33.3 million ($33.52 million), or 41 Canadian cents per share, versus a year-ago net income applicable to participating shares of C$25.7 million, or 32 Canadian cents per share. On an adjusted basis, Transcontinental earned 33 Canadian cents per share. Transcontinental's revenue dropped 4% to C$495.9 million.