Transcontinental Inc. annual results reflect difficult last quarter

Transcontinental Inc. lost $132 million in net income in the last quarter of 2008,from $38.6 million in the same period a year ago to a loss of $94.2 million. The decline in net income for fiscal 2008 was $112 million, from $120.6 million in 2007 to $7.9 million in 2008, largely due to a write-off connected with restructuring of the company's direct mail business in the United States. This year's