Transcon swings to first quarter loss of $6.4 million or 8 cents a share

Transcontinental Inc. lost $6.4 million in the first quarter, a $40 million swing from its profit in the same period last year. It attributed the loss to a decline in advertising. Revenues increased to $604.1 million from $596 million in the year-ago while net income, exclusive of unusual items, decreased to $15.1 million from $28.4 million. The loss for the period ended Jan. 31 was 8 cents per