Tibor Kolley/The Globe and Mail
Publisher and commercial printer Transcontinental Inc. said Wednesday it had a third-quarter profit of $30.6-million and expects to make targeted acquisitions in digital technology.
The profit in the company's latest quarter compares with $25.5-million in the same period a year ago. Revenues were $500.3-million, down from $504.4-million.
Chief executive officer Francois Olivier said higher operating income and a decrease in capital expenditures will continue to improve Transcontinental's financial position.
"We will thus be in an excellent position to make targeted strategic acquisitions in new media and digital technology," Mr. Olivier said in a release.
"We will also continue to develop our offering to meet the growing demand from our customers for custom marketing programs tied in with one-to-one advertising and mobile technology," he said.
Earnings per share were 35 cents versus 31 cents in the same period a year ago, stripping out the effect of dividends paid on preferred shares.
Adjusted net income applicable to participating shares was up 8.2 per cent from $31.8-million in 2009 to $34.4-million. On a per-share basis it rose to 43 cents from 39 cents.
Mr. Olivier also said Transcontinental will continue to identify possibilities for synergies across the company, notably by integrating its service offering and getting the most out of its equipment.
"I am optimistic about the coming quarters, even though the economic context is still unstable," he said.