October 25, 2012 (TORONTO) – Postmedia Network Canada Corp. (“Postmedia” or the “Company”) today released financial information for the fourth quarter and year ended August 31, 2012.
Fourth Quarter Operating Results
Net loss in the quarter ended August 31, 2012 was $28.4 million compared to a net loss of $0.4 million in the same period in the prior year. Contributing to the larger loss was a non-cash loss on debt repayment of $9.2 million relating to unamortized financing fees as a result of the refinancing of the Company’s term loan in August, increased restructuring costs, and lower revenue partially offset by reduced operating costs.
Net loss from continuing operations in the quarter was $28.4 million compared to a net loss from continuing operations of $0.8 million in the same period in the prior year.