Transcontinental Inc., symbol TCL.A on Toronto, is the largest commercial printer in Canada and Mexico, and the fourth-largest in North America. It also publishes newspapers and magazines.
Transcontinental also has over 250 web sites. These web sites will become more important to the Canadian stock’s growth in the next few years, as advertisers spend more on the Internet than print products.
In the three months ended January 31, 2011, Transcontinental earned $29.9 million, or $0.37 a share. That’s up 10.3% from $27.1 million, or $0.34 a share, a year earlier. These figures exclude writedowns and other non-recurring items. On this basis, the Canadian stock’s latest earnings beat the consensus estimate of $0.36 a share. Revenue rose 3.6%, to $530.1 million from $511.6 million.
Transcontinental has won a number of new printing contracts. In October, the company expanded its contract to print The Globe and Mail newspaper to Alberta and British Columbia. This will add $25 million to its annual revenue. It also won a new contract to provide printing and marketing services to Canadian Tire. This four-year deal will begin in January 2012, and will add an additional $30 million to $40 million a year to Transcontinental’s revenue.
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