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McGraw-Hill Ryerson narrows Q1 loss; raises quarterly dividend to 31.5 cents.

WHITBY, Ont. – McGraw-Hill Ryerson (TSX:MHR) says its loss narrowed in the first quarter as a $1.5-million decrease in operating expenses offset a marginal decline in revenue.

The Ontario-based publisher and distributor of both print and digital educational products said Friday its loss was just under $1.8 million or 88 cents per share in the three months ended March 31.

That was an improvement over its net loss of $2.7 million or $1.33 per share in the year-earlier first quarter, traditionally the company’s weakest period.

Total revenue fell 1.9 per cent to $7.9 million from $8 million in the year-earlier period.

However, operating expenses decreased to $6.4 million from $7.9 million for the same quarter in 2012 as a result of reduced sales and compensation expenses.