Dominion Lending Centres Clearlease Reports Transcontinental (TSX:TCL.A) hikes quarterly dividend for the third time in 18 months

Dominion Lending Centres Clearlease Reports Transcontinental (TSX:TCL.A) hikes quarterly dividend for the third time in 18 months

VANCOUVER, BC (June 9, 2011) Dominion Lending Centres Clearlease Reports Transcontinental increased its dividend for the third time in 18 months Wednesday June 8, 2011 after the printing and publishing company recorded its eighth consecutive quarter of higher adjusted operating profits.

The quarterly dividend will rise 23 per cent to 13.5 cents per share, starting with the next payout on July 22. The last hike came six months ago.

Transcontinental (TSX:TCL.A) reported its adjusted profit rose 18 per cent to $40.1 million, or 49 cents per share for the period ended April 30. That compared with 42 cents or $34.1 million a year earlier.

However, net profits were cut by more than half after restructuring costs, discontinued operations and other one-time items.

Analysts had expected 44 cents per share on $523 million of revenues, according to estimates compiled by Thomson Reuters.

New printing contracts boosted Transcontinental’s revenues by just one per cent to $514.7 million. Excluding factors such as acquisitions, closures and the currency exchange, revenues grew by three per cent.

While profits are growing for its core printing business, the company warned that its interactive operations will take longer to take off after it lost $800,000 on $30 million of revenues in the quarter.

“We think we have hit bottom in terms of profit this quarter and the third and fourth quarters should demonstrate improvements on that front. But for the rest a little patience will be required,” president and CEO Francois Olivier said during a conference call.

Transcontinental expects this new segment’s revenues will increase to $300 million by the end of 2013, up from $183 million three years earlier.

Olivier said he was pleased with the overall results, “especially with the fact that we have generated organic revenue and profit growth for the fifth consecutive quarter in an industry in profound transformation.”

Chief financial officer Benoit Huard added that the dividend increase reflects Transcontinental’s “strong cash flow generating ability” and reduced capital expenditures.

Drew McReynolds of RBC Capital Markets said the dividend increase was a surprise.

“On the heels of a 22 per cent dividend increase in December 2010, today’s announcement came earlier than expected and is a positive surprise,” he wrote in a report.

Free cash flow from operations increased 16 per cent to $76.1 million, while capital spending decreased to $8.4 million from $26.3 million.

Net income fell to $33 million or 41 cents per share, from $67 million or 83 cents a year earlier.

The decreased net income included unusual items such as restructuring costs and last year’s $34.7 million in net income from its discontinued U.S. direct mail business.

Transcontinental earned $74 million on $361 million of revenues in the key printing segment. Organic revenue grew by 4.7 per cent, driven by the new Globe and Mail contract.

Its printing plant in Freemont, California, gained several new commercial printing contracts. The plant is generating $4 million of revenues per year but is operating at less than 50 per cent capacity.

The media segment, which accounts for about 28 per cent of overall revenues, contributed $22 million of earnings on $149 million of revenues.

Overall, he doesn’t expect advertising trends to grow significantly in the third quarter in the face of an economic slowdown, but is more optimistic about gains by the end of the fiscal year.

Higher operating income was driven by new contracts and synergies from using its most productive printing assets.

During the quarter, Transcontinental announced the closure of two printing plants — one in Quebec and one in Manitoba. Production will be transferred to larger, more efficient facilities.

It also acquired a weekly newspaper in Dolbeau-Mistassini, Que., ad launched five community newspapers in the province.

In addition to signing a four-year deal with Canadian Tire (TSX:CTC) that will add about $30 million to $40 million in annual revenues, it partnered with Undertone to expand its digital advertising offering.

Transcontinental is the largest printer in Canada and Mexico and the fourth-largest in North America and has 10,500 employees. It publishes consumer magazines and French-language educational resources, as well as community newspapers in Quebec and the Atlantic provinces.

Its shares closed at $14.47, up 38 cents, or 2.7 per cent, in Wednesday trading on the Toronto Stock Exchange.

Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk


Dominion Lending Centres Clearlease Reports More Americans demanding Canadian retail space, will drive up rents RioCan Real Estate Investment Trust (TSX:REI.UN)

VANCOUVER, BC (June 9, 2011) Dominion Lending Centres Clearlease Reports Transcontinental increased its dividend for the third time in 18 months Wednesday June 8, 2011 after the printing and publishing company recorded its eighth consecutive quarter of higher adjusted operating profits.

The quarterly dividend will rise 23 per cent to 13.5 cents per share, starting with the next payout on July 22. The last hike came six months ago.

Transcontinental (TSX:TCL.A) reported its adjusted profit rose 18 per cent to $40.1 million, or 49 cents per share for the period ended April 30. That compared with 42 cents or $34.1 million a year earlier.

However, net profits were cut by more than half after restructuring costs, discontinued operations and other one-time items.

Analysts had expected 44 cents per share on $523 million of revenues, according to estimates compiled by Thomson Reuters.

New printing contracts boosted Transcontinental’s revenues by just one per cent to $514.7 million. Excluding factors such as acquisitions, closures and the currency exchange, revenues grew by three per cent.

While profits are growing for its core printing business, the company warned that its interactive operations will take longer to take off after it lost $800,000 on $30 million of revenues in the quarter.

“We think we have hit bottom in terms of profit this quarter and the third and fourth quarters should demonstrate improvements on that front. But for the rest a little patience will be required,” president and CEO Francois Olivier said during a conference call.

Transcontinental expects this new segment’s revenues will increase to $300 million by the end of 2013, up from $183 million three years earlier.

Olivier said he was pleased with the overall results, “especially with the fact that we have generated organic revenue and profit growth for the fifth consecutive quarter in an industry in profound transformation.”

Chief financial officer Benoit Huard added that the dividend increase reflects Transcontinental’s “strong cash flow generating ability” and reduced capital expenditures.

Drew McReynolds of RBC Capital Markets said the dividend increase was a surprise.

“On the heels of a 22 per cent dividend increase in December 2010, today’s announcement came earlier than expected and is a positive surprise,” he wrote in a report.

Free cash flow from operations increased 16 per cent to $76.1 million, while capital spending decreased to $8.4 million from $26.3 million.

Net income fell to $33 million or 41 cents per share, from $67 million or 83 cents a year earlier.

The decreased net income included unusual items such as restructuring costs and last year’s $34.7 million in net income from its discontinued U.S. direct mail business.

Transcontinental earned $74 million on $361 million of revenues in the key printing segment. Organic revenue grew by 4.7 per cent, driven by the new Globe and Mail contract.

Its printing plant in Freemont, California, gained several new commercial printing contracts. The plant is generating $4 million of revenues per year but is operating at less than 50 per cent capacity.

The media segment, which accounts for about 28 per cent of overall revenues, contributed $22 million of earnings on $149 million of revenues.

Overall, he doesn’t expect advertising trends to grow significantly in the third quarter in the face of an economic slowdown, but is more optimistic about gains by the end of the fiscal year.

Higher operating income was driven by new contracts and synergies from using its most productive printing assets.

During the quarter, Transcontinental announced the closure of two printing plants — one in Quebec and one in Manitoba. Production will be transferred to larger, more efficient facilities.

It also acquired a weekly newspaper in Dolbeau-Mistassini, Que., ad launched five community newspapers in the province.

In addition to signing a four-year deal with Canadian Tire (TSX:CTC) that will add about $30 million to $40 million in annual revenues, it partnered with Undertone to expand its digital advertising offering.

Transcontinental is the largest printer in Canada and Mexico and the fourth-largest in North America and has 10,500 employees. It publishes consumer magazines and French-language educational resources, as well as community newspapers in Quebec and the Atlantic provinces.

Its shares closed at $14.47, up 38 cents, or 2.7 per cent, in Wednesday trading on the Toronto Stock Exchange.

Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk


Dominion Lending Centres Clearlease Reports Transcontinental (TSX:TCL.A) hikes quarterly dividend for the third time in 18 months

VANCOUVER, BC (June 9, 2011) Dominion Lending Centres Clearlease Reports Transcontinental increased its dividend for the third time in 18 months Wednesday June 8, 2011 after the printing and publishing company recorded its eighth consecutive quarter of higher adjusted operating profits.

The quarterly dividend will rise 23 per cent to 13.5 cents per share, starting with the next payout on July 22. The last hike came six months ago.

Transcontinental (TSX:TCL.A) reported its adjusted profit rose 18 per cent to $40.1 million, or 49 cents per share for the period ended April 30. That compared with 42 cents or $34.1 million a year earlier.

However, net profits were cut by more than half after restructuring costs, discontinued operations and other one-time items.

Analysts had expected 44 cents per share on $523 million of revenues, according to estimates compiled by Thomson Reuters.

New printing contracts boosted Transcontinental’s revenues by just one per cent to $514.7 million. Excluding factors such as acquisitions, closures and the currency exchange, revenues grew by three per cent.

While profits are growing for its core printing business, the company warned that its interactive operations will take longer to take off after it lost $800,000 on $30 million of revenues in the quarter.

“We think we have hit bottom in terms of profit this quarter and the third and fourth quarters should demonstrate improvements on that front. But for the rest a little patience will be required,” president and CEO Francois Olivier said during a conference call.

Transcontinental expects this new segment’s revenues will increase to $300 million by the end of 2013, up from $183 million three years earlier.

Olivier said he was pleased with the overall results, “especially with the fact that we have generated organic revenue and profit growth for the fifth consecutive quarter in an industry in profound transformation.”

Chief financial officer Benoit Huard added that the dividend increase reflects Transcontinental’s “strong cash flow generating ability” and reduced capital expenditures.

Drew McReynolds of RBC Capital Markets said the dividend increase was a surprise.

“On the heels of a 22 per cent dividend increase in December 2010, today’s announcement came earlier than expected and is a positive surprise,” he wrote in a report.

Free cash flow from operations increased 16 per cent to $76.1 million, while capital spending decreased to $8.4 million from $26.3 million.

Net income fell to $33 million or 41 cents per share, from $67 million or 83 cents a year earlier.

The decreased net income included unusual items such as restructuring costs and last year’s $34.7 million in net income from its discontinued U.S. direct mail business.

Transcontinental earned $74 million on $361 million of revenues in the key printing segment. Organic revenue grew by 4.7 per cent, driven by the new Globe and Mail contract.

Its printing plant in Freemont, California, gained several new commercial printing contracts. The plant is generating $4 million of revenues per year but is operating at less than 50 per cent capacity.

The media segment, which accounts for about 28 per cent of overall revenues, contributed $22 million of earnings on $149 million of revenues.

Overall, he doesn’t expect advertising trends to grow significantly in the third quarter in the face of an economic slowdown, but is more optimistic about gains by the end of the fiscal year.

Higher operating income was driven by new contracts and synergies from using its most productive printing assets.

During the quarter, Transcontinental announced the closure of two printing plants — one in Quebec and one in Manitoba. Production will be transferred to larger, more efficient facilities.

It also acquired a weekly newspaper in Dolbeau-Mistassini, Que., ad launched five community newspapers in the province.

In addition to signing a four-year deal with Canadian Tire (TSX:CTC) that will add about $30 million to $40 million in annual revenues, it partnered with Undertone to expand its digital advertising offering.

Transcontinental is the largest printer in Canada and Mexico and the fourth-largest in North America and has 10,500 employees. It publishes consumer magazines and French-language educational resources, as well as community newspapers in Quebec and the Atlantic provinces.

Its shares closed at $14.47, up 38 cents, or 2.7 per cent, in Wednesday trading on the Toronto Stock Exchange.

Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk




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