May 3 (Reuters) - Torstar Corp TSb.TO :
* 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: ID:nMKWT9Yrqa Further company coverage: TSb.TO