Quebecor World Suffers $77M Loss in Q2

MONTREAL—Despite a recent slew of contract renewals and new business acquisitions, a restructuring Quebecor World posted a net loss of $77.7 million (or $0.44 per share) for the second quarter of 2008, compared to a net loss of $10.8 million ($0.05 per share) for the same period in 2007.

Quebecor World revenue slipped to $976 million from $1.1 billion a year earlier. The company cited pricing pressures, reduced volumes and significant restructuring and reorganization costs behind the poor performance.