CEP Local 87M (SONG) represents about 1,200 members at Torstar, including the Toronto Star, Metroland, the Hamilton Spectator, the Waterloo Record and Hamilton Community News.

Highlights for the quarter:

• Revenue was $334.2 million in the quarter, down $4.8 million from $339.0 million in the first quarter of last year. Excluding the $10.1 million decrease from the stronger Canadian dollar, revenue was up $5.3 million or 1.6% in the quarter.
• EBITDA (operating profit, as presented on the consolidated statements of income which is before charges for interest and taxes, adjusted for depreciation and amortization of intangible assets, and restructuring and other charges – see "non-GAAP measures") was $44.7 million in the quarter, up $19.9 million or 80% from $24.8 million in the first quarter of 2009.
• Net income was $7.4 million ($0.09 per share) in the first quarter of 2010 up $28.8 million ($0.36 per share) from a loss of $21.4 million ($0.27 per share) in the first quarter last year.
• Net debt was $493.2 million at March 31, 2010, down $22.6 million from $515.8 million at December 31, 2009.