Torstar, the parent company of Harlequin, announced its second quarter results for the period ending June 30. Operating revenue of $397.0 million was up $6.7 million or 1.7% in the second quarter of 2007 with growth in both the Newspapers and Digital segment and the Book Publishing segment. Net income was $30.1 million in the second quarter of 2007, up $4.5 million or 17.6% from $25.6 million in the second quarter of 2006. Net income per share was $0.38 in the second quarter up $0.05 or 15.2% from $0.33 in the second quarter of 2006.
Book Publishing operating profit was $12.5 million in the second quarter of 2007, up $2.3 million from $10.2 million in 2006. Year over year foreign exchange rates had no impact on Book Publishing operating profits in the second quarter. Excluding the impact of the shipping disruptions that occurred in the second quarter of 2006, the Book Publishing operating profits were up just slightly year over year.
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