BRIEF-Postmedia Reports First Quarter Results By Reuters

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BRIEF-Postmedia Reports First Quarter Results

Published Jan 11, 2018 10:52 Updated Jan 11, 2018 11:00

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BRIEF-Postmedia Reports First Quarter Results

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Jan 11 (Reuters) - Postmedia Network Canada Corp PNCa.TO :

* POSTMEDIA REPORTS FIRST QUARTER RESULTS

* Q1 REVENUE FELL 10.3 PERCENT TO C$189 MILLION

* - QTRLY EPS FROM CONTINUING OPERATIONS $0.06

* POSTMEDIA NETWORK CANADA - IMPLEMENTED INITIATIVES WHICH ARE EXPECTED TO RESULT IN ABOUT $14 MILLION OF NET ANNUALIZED COST SAVINGS IN QUARTER

* POSTMEDIA NETWORK CANADA - Q1 REVENUE DECLINE WAS PRIMARILY DUE TO FALL IN PRINT ADVERTISING REVENUE OF 17.9% AND FALL IN PRINT CIRCULATION REVENUE OF 6.1%

* POSTMEDIA NETWORK CANADA-TO CONTINUE TO IDENTIFY, UNDERTAKE ONGOING COST REDUCTION INITIATIVES TO ADDRESS REVENUE DECLINATION IN LEGACY PRINT BUSINESS

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BRIEF-Postmedia Reports First Quarter Results

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