Quebecor World Suffers $20M Q2 Loss
MONTREAL—Embattled printing giant Quebecor World was socked with a loss of $21.1 million for the second quarter, or 20 cents a share. That is more than three times the $6.5 million (11 cents) net loss from the same period in 2006.
Wes Lucas, Quebecor World president and CEO, said that the North American operations produced significantly improved earnings, especially in the book and magazine divisions, where the company has essentially completed its retooling and restructuring program.
However, those divisions still in the restructuring process—particularly catalog and directory—and challenging market conditions in Europe negatively impacted the company’s results.