TC Transcontinental Posts Slight Revenue, Income Increases
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Net income applicable to participating shares decreased 53 percent, from $166.6 million to $77.8 million. This decrease is mainly attributable to two non-cash and non-operational items. The first item is an impairment of goodwill and intangible assets of $52.2 million in 2011. The second item is a significant negative variance related to discontinued operations due to the double effect of a net gain of $29.4 million in 2010, on the disposal of our direct mail operations in the United States.
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- Transcontinental Inc.
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