03:42 PM EST - Transcontinental Inc. : reported that its first-quarter net income applicable to participating shares was $26.2 million, compared to a loss of $6.4 million in the same quarter last year. On a per share basis, net income was $0.32, compared to a loss of $0.08 in the prior-year quarter. Adjusted net income applicable to participating shares, which does not take into account unusual items related to asset impairment, restructuring costs and income tax adjustments, also grew substantially, from $15.1 million to $25.3 million. On a per-share basis, net income applicable to participating shares rose from $0.19 to $0.31. Consolidated revenues were $559.3 million, compared to $625.4 million in the first quarter 2009, down 11%. Transcontinental Inc.
shares T.TCL.A are trading up $0.11 at $13.46.
