TORSTAR EARNINGS FLAT
By Adnews Staff
Rising advertising rates and circulation revenues offset higher newsprint costs for Toronto-based Torstar Corp., and kept the company's net income flat for the first quarter ending March 31. Net income was $9.8 million for the first quarter in 1996, the same as for first quarter of 1995. Torstar's newspaper division reported an operating profit of $4.8 million, up $100,000 from the same period last year. Earnings in the Harlequin Enterprises book publishing division decreased slightly from $20.4 million to $19.4 million. The operating loss for the catalogue marketing division, Miles Kimball Co., decreased to $500,000 in the quarter, from $2.3 million last year.
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