Torstar Corp. posted a net loss of $2.7 million Canadian ($2.2 million) for the third quarter, compared to net income of $8.4 million Canadian ($6.9 million) in the prior year.
The direct marketing and communications giant reported
revenue of $372.1 million Canadian ($305.7 million) for the quarter ended Sept. 30, a 0.8% increase over $369.2 million Canadian ($303.4 million) last year.
The company reported that North America direct-to-consumer operating profits decreased $300,000 Canadian ($246.4 million) in the quarter.
Management said revenue growth in Internet book and digital sales were not enough to offset continued revenue declines in revenue in traditional direct mail.
“In the face of challenging economic conditions and trends, the third quarter operating results were down modestly", said Robert Prichard, CEO, in a statement.“Harlequin had a solid quarter and remains on course for a good year of growth.”
