Printing Division Charges Prompt Q2 Loss for QuebecorQuebecor Inc. posted a second-quarter loss yesterday of $19.9 million, due largely to a drop in revenue at its Quebecor World printing division.
In last year's second quarter Quebecor had a profit of $19.2 million.
Montreal-based Quebecor's consolidated operating income was $253.8 million, compared with $348.3 million in the same period last year. Revenue was $1.89 billion, down from $2.02 billion in the same quarter of 2002.
Quebecor World, which announced plans last week to cut 1,000 jobs, reported a net loss of $61.7 million compared with net income of $64.2 million in 2002.
Quebecor Media, which includes the company's Internet, newspaper and television holdings, posted net income of $17.5 million, up from $0.35 million in the same quarter of 2002.