Torstar Corporation recently reported financial results for the fourth quarter and full year ended December 31, 2008. Torstar’s revenue of $1,536.0 million was down less than 1% from $1,546.5 million in 2007 and they’re still paying dividends ($0.37 per share). It turns out that they owe a big part of their success to romance novel readers, according to Robert Prichard, President and CEO of Torstar Corporation..jpg)
"Our operating results in the fourth quarter were mixed" said Prichard, "Harlequin finished the year strongly with another good quarter that drove earnings for the year up 11 percent. This is the third year in a row of business growth for Harlequin which is making important gains in both print and digital products. We are very pleased with Harlequin's performance and prospects…
"The outlook for 2009 is mixed and marked by uncertainty due to the economy. At Harlequin, we expect continuing stable results building on the success and growth of the last three years. Overall, we anticipate Harlequin will deliver a fourth good year in a row. Harlequin's results have held up well to date despite the recession…
"These are challenging times for media businesses but Torstar has market leading franchises with excellent business leaders, strong executive teams and committed employees. We are making changes throughout our businesses that will help weather the current storm and strengthen them for future performance as the economy recovers."
Topping the list at Harlequin for sales this month is Diamond in the Rough by perennial favorite, author Dianna Palmer.
For more info: Feel free to comment or e-mail Stephanie at stephaniequeen@rocketmail.com
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