July 11 (Reuters) - Postmedia Network Canada Corp PNCa.TO :
* POSTMEDIA REPORTS THIRD QUARTER RESULTS
* SAYS REVENUE FOR QUARTER WAS $171.0 MILLION AS COMPARED TO $190.0 MILLION IN SAME PERIOD IN PRIOR YEAR
* SAYS IN JUNE, BEGAN IMPLEMENTATION OF COST SAVING INITIATIVE AIMED AT FURTHER REDUCING COMPENSATION EXPENSES BY ABOUT 10% BY FY END
* SAYS IMPLEMENTATION OF COST SAVING INITIATIVE IN JUNE 2018 THROUGH COMBINATION OF VOLUNTARY & INVOLUNTARY HEADCOUNT REDUCTIONS
* SAYS QTRLY LOSS PER SHARE FROM CONTINUING OPERATIONS $0.17
* SAYS WILL CONTINUE TO IDENTIFY & UNDERTAKE ONGOING COST REDUCTION INITIATIVES IN EFFORT TO ADDRESS REVENUE DECLINATION IN LEGACY PRINT BUSINESS
* SAYS IN QUARTER, IMPLEMENTED INITIATIVES EXPECTED TO RESULT IN ABOUT $7 MILLION NET ANNUALIZED COST SAVINGS