Postmedia Network Canada Swings to Q3 Loss
Postmedia Network Canada (PNC-B.TO, PNC-A.TO) reported third quarter loss of C$0.36 per diluted share compared with earnings of C$0.08 per share in the prior year period. Revenue for the quarter ended May 31 increased to C$146.7 million compared with C$109.2 million, a year-ago, primarily due to an increase in product distribution and other revenues, partially offset by decreases in advertising revenue and circulation revenue, it said.
Postmedia Network Canada (PNC-B.TO, PNC-A.TO) reported third quarter loss of C$0.36 per diluted share compared with earnings of C$0.08 per share in the prior year period.
Revenue for the quarter ended May 31 increased to C$146.7 million compared with C$109.2 million, a year-ago, primarily due to an increase in product distribution and other revenues, partially offset by decreases in advertising revenue and circulation revenue, it said.