CONTINUED SOLID GROWTH FOR TRANSCONTINENTAL IN SECOND QUARTER.MONTREAL, QUEBEC--(BUSINESS WIRE)--JUNE 14, 1995--G.T.C. TRANSCONTINENTA (ME, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :GRT GRT Great GRT Glimcher Realty Trust GRT Grand River Transit (Waterloo, Canada) GRT General Relativity Theory GRT Group Rapid Transit GRT Gruppo per le Relazioni Transculturali .A GRT.B GRT.PR.C GRT.WT) - 22 p.cent increase in revenues - 17 p.cent increase in operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. - 27 p.cent increase in net earnings - net income per share of $0.22 compared to $0.19 for second quarter of 1994 For the second quarter ended April 30, 1995, G.T.C. Transcontinental Group Ltd. posted consolidated revenues of $240.4 million, a 22 p.cent increase over the $197.7 million recorded for the same period last year. Operating income increased by 17 p.cent from $17.7 million last year to $20.7 million this year. Net earnings increased by 27 p.cent from $6.6 million last year to $8.4 million in 1995. On a per share basis, net income was $0.22 in 1995 compared to $0.19 in 1994. The consolidated revenues of Transcontinental Group for the first six months of fiscal 1995 increased by 12 p.cent, up from $389.1 million last year to $437.1 million this year. Operating income grew by 21 p.cent, up from $28.3 million in 1994 to $34.3 million in 1995. Net earnings increased by 42 p.cent, up from $8.2 million in 1994 to $11.7 million in 1995. The first six months of the year show net earnings available to common shares of $10.0 million ($0.29 per share) as compared to $8.2 million ($0.24 per share) at the end of the same period in 1994, an increase of 22 p.cent. Cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses increased by 10 p.cent from $33.4 million in 1994 to $36.9 million for the corresponding period in 1995. "We are satisfied with our overall performance for the first six months of 1995," declared Mr. Luc Sicotte, Vice President, Finance and Treasurer of Transcontinental Group. "The rationalization rationalization, in psychology: see defense mechanism. program undertaken by the printing sector over the last three years is bearing fruit, particularly in the Ontario region where there has been a significant turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. with respect to operating income, both for commercial and retail printing. It should also be noted that the businesses acquired during the preceding quarter, namely Ross-Ellis Printing Inc. and The Yorkville Printing Group Ltd., have already contributed to the increase in operating income. In addition, the technology sector, through our subsidiary Americ Disc Inc., has experienced another excellent quarter with revenues increasing by more than 50 p.cent over the same period in 1994". Highlights Subsequent to Second Quarter Two events occurring after April 30, 1995 should be mentioned. On May 12, 1995, Transcontinental continued the restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of its U.S. operations started in the first quarter by announcing that the lease for the Orlando plant would not be renewed. This printing plant will thus gradually cease operations until July 10, 1995 and the equipment as well as certain contracts will be transferred to some of the Group's other plants. This decision is part of a printing plant specialization A career option pursued by some attorneys that entails the acquisition of detailed knowledge of, and proficiency in, a particular area of law. As the law in the United States becomes increasingly complex and covers a greater number of subjects, more and more attorneys are program and does not have any impact on the second quarter results since a provision was already taken during the first quarter of the current year. In addition, on May 31, 1995, Transcontinental completed the acquisition of all of the assets of the Telemedia weeklies division, which had been announced on April 28. It should be noted that this division included 20 weeklies published in the Greater Montreal area. This acquisition is an excellent complement to the Group's current activities as it had already been printing and distributing these weeklies for several years. The distribution sector, which already owns several weeklies in Winnipeg, will manage these newly acquired publications. Dividend At its June 14, 1995 meeting, the Board of Directors of the Corporation declared a quarterly dividend of $0.03 per share payable to all holders of Class A Subordinate Voting Shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. and Class B shares as well as a dividend of $0.46875 per share payable to all holders of the Corporation's Class C First Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. . The dividends will be paid on July 17, 1995 to all shareholders of record on July 7, 1995. Corporate Profile A leader in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. communications industry communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. , G.T.C. Transcontinental Group is involved in the printing, distribution and publishing sectors as well as in the production of audio CDs and CD-ROMs. The Corporation also offers telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. , database and micromarketing services. This fully integrated network A network that supports both data and voice and/or different networking protocols. See converged network and new public network. provides Transcontinental customers with a total service. The Class A Subordinate Voting Shares, the Class B Shares and the Cumulative Redeemable Redeemable Eligible for redemption under the terms of an indenture. First Preferred Shares, Series C of G.T.C. Transcontinental Group as well as the Warrants allowing holders to subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; such preferred shares of Transcontinental are listed and posted for trading on the Montreal and Toronto stock exchanges Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the trading symbols Trading symbol See: Ticker symbol , GRT.A, GRT.B, GRT.PR.C and GRT.WT. -0-
G.T.C. TRANSCONTINENTAL GROUP LTD.
HIGHLIGHTS
unaudited
(in thousands of dollars, except per share data) _____________________________________________________________
Three months ended April 30
_____________________________________________________________
Change
1995 1994 p.cent
_____________________________________________________________
Revenues $240,362 $197,697 22
Income before depreciation,
financial expense and
income taxes 32,472 28,370 14
Operating income 20,694 17,693 17
Net earnings 8,375 6,586 27
Common shareholders' equity -- --
_____________________________________________________________
Per share data
_____________________________________________________________
Earnings before depreciation,
financial expense and
income taxes $ 0.93 $ 0.81
Net earnings 0.22 0.19
Cash flow from operations 0.57 0.56
Dividends on common shares 0.03 0.03
Common shareholders' equity -- --
_____________________________________________________________
Average number of common
shares outstanding ('000) 34,925 34,826
_____________________________________________________________
Common shares outstanding
at end of period ('000) -- --
_____________________________________________________________
_____________________________________________________________
Six months ended April 30
_____________________________________________________________
Change
1995 1994 p.cent
_____________________________________________________________
Revenues $437,118 $389,072 12
Income before depreciation,
financial expense and
income taxes 56,763 49,357 15
Operating income 34,322 28,308 21
Net earnings 11,667 8,214 42
Common shareholders' equity 271,422 254,291 7
_____________________________________________________________
Per share data
_____________________________________________________________
Earnings before depreciation,
financial expense and
income taxes $ 1.63 $ 1.42
Net earnings 0.29 0.24
Cash flow from operations 1.01 0.96
Dividends on common shares 0.06 0.06
Common shareholders' equity 7.78 7.30
_____________________________________________________________
Average number of common
shares outstanding ('000) 34,847 34,811
_____________________________________________________________
Common shares outstanding
at end of period ('000) 34,884 34,827
_____________________________________________________________
CONTACT: Jean Blouin Director, Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most (514) 954-4000 or Luc Sicotte Vice President, Finance and Treasurer (514) 954-4000 |
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