Torstar Corporation announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported operating revenue of CAD 145,913,000 against CAD 162,098,000 a year ago. Operating loss was CAD 4,970,000 against CAD 9,262,000 a year ago. Net loss from continuing operations was CAD 6,589,000 against net income of CAD 1,081,000 a year ago. Net income attributable to equity shareholders was CAD 6,557,000 against net income of CAD 1,432,000 a year ago. Basic and diluted net loss from continuing operations attributable to equity shareholders per Class A (voting) and Class B (non-voting) share was CAD 0.08 against net income of CAD 0.01 a year ago. Basic and diluted net loss attributable to equity shareholders per Class A (voting) and Class B (non-voting) share was CAD 0.08 against net income of CAD 0.02 a year ago. Cash provided by operating activities was CAD 9,668,000 against cash used in operating activities of CAD 2,454,000 a year ago. Additions to property, plant and equipment and intangible assets were CAD 3,938,000 against CAD 5,007,000 a year ago. Adjusted EBITDA was CAD 3,648,000 against CAD 4,390,000 a year ago. Adjusted loss per share was CAD 0.08 in the third quarter of 2017, consistent with the third quarter of 2016.

For the nine months, the company reported operating revenue of CAD 446,346,000 against CAD 496,691,000 a year ago. Operating loss was CAD 32,088,000 against CAD 71,313,000 a year ago. Net loss from continuing operations was CAD 38,485,000 against CAD 76,719,000 a year ago. Net income attributable to equity shareholders was CAD 37,823,000 against CAD 76,014,000 a year ago. Basic and diluted net loss from continuing operations attributable to equity shareholders per Class A (voting) and Class B (non-voting) share was CAD 0.48 against CAD 0.95 a year ago. Basic and diluted net loss attributable to equity shareholders per Class A (voting) and Class B (non-voting) share was CAD 0.47 against CAD 0.94 a year ago. Cash used in operating activities was CAD 8,166,000 against cash used in operating activities of CAD 22,348,000 a year ago. Additions to property, plant and equipment and intangible assets were CAD 8,990,000 against CAD 13,193,000 a year ago.

Capital expenditures in 2018 are currently anticipated to be in the range of CAD 12 million including additional capital spending related to the company's transformation activities.