May 9 (Reuters) - Torstar Corp TSb.TO :
* ORATION REPORTS FIRST QUARTER RESULTS
* Q1 ADJUSTED LOSS PER SHARE C$0.20
* Q1 LOSS PER SHARE C$0.26 FROM CONTINUING OPERATIONS
* Q1 LOSS PER SHARE C$0.18
* RESTRUCTURING INITIATIVES UNDERTAKEN IN Q1 OF 2018 ARE EXPECTED TO RESULT IN ANNUALIZED NET SAVINGS OF $5.3 MILLION
* ANTICIPATE TO INCUR AN ESTIMATED $11 - $13 MILLION OF INCREMENTAL OPERATING EXPENSES RELATED TO TRANSFORMATION EFFORTS FOR FULL YEAR IN 2018
* TORSTAR - RESTRUCTURING INITIATIVES IN Q1 RESULTED IN REDUCTION OF ABOUT 100 POSITIONS WITH $4.9 MILLION SAVINGS EXPECTED TO BE REALIZED IN 2018
* CONTINUE TO ANTICIPATE THAT CAPITAL EXPENDITURES FOR FULL YEAR 2018 WILL BE IN RANGE OF $15 MILLION
* SUBSCRIBER REVENUES WERE STABLE IN Q1, HOWEVER, EXPECT THESE REVENUES WILL DECREASE MARGINALLY IN BALANCE OF 2018