Torstar Corp., the Toronto Star’s parent company, reported an adjusted loss of 13 cents per share in second-quarter earnings on Wednesday.

That was down from an adjusted profit of 14 cents per share in the same quarter of 2015.

The 2016 quarter included a 40-cent-per-share impact of amortization and depreciation. The quarter included $31 million in unusual non-cash amortization charges associated with the company’s investment in VerticalScope and the outsourcing of printing of the Toronto Star to Transcontinental Printing.

The company started printing the paper at those presses on July 3. The sales process for the building and land at the now-closed Star printing presses in Vaughan is ongoing and the company said it is pleased with the level of interest so far.

The printing switchover, announced in January, is expected to save some $10 million annually, though the savings won’t be fully realized until 2017.

Segmented revenue in the second quarter was $196.5 million, down nine per cent or $20.4 million from the second quarter of 2015.

Adjusted earnings per share before interest, taxes, depreciation and amortization, or EBITDA, was $15.6 million. That was down $5.3 million from the second quarter of 2015, partially due to the loss of $1.4 million in commercial printing from the Vaughan presses and partially due to the $1.5-million incremental investment in the Star’s tablet app.

“The impact of continued print advertising pressures and $1.5 million of incremental costs associated with Toronto Star Touch exceeded contributions from VerticalScope and the effect of continuing efforts on costs,” CEO David Holland said in a statement.

“On a positive note, we were pleased with our continued progress in digital advertising,” Holland said.

Digital ventures reported $9.3 million more in revenue due to the company’s investment in VerticalScope, the owner of more than 600 online forums and premium content sites.

“Revenues at VerticalScope again posted double-digit growth in the quarter. We continue to be pleased with the progress at VerticalScope where revenue grew 15 per cent and earnings are up 17 per cent during our period of ownership,” Holland said.

Digital revenues comprised 17 per cent of the total revenue in the period ending June 30, compared to 13 per cent in the first quarter of 2015.

The company’s board of directors announced that it plans to lower the dividend to 10 cents per share annually beginning in the third quarter.

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Torstar also said in its outlook that it expects the difficult print advertising market to continue into the third quarter of the year, while digital revenues are expected to grow for the remainder of 2016.

“Looking forward we expect earnings in the balance of the year to benefit from growth at VerticalScope, efforts on costs, including outsourcing of printing the Toronto Star, and as anticipated, lower net investment in Toronto Star Touch compared to the 2015 launch,” Holland said.