The Financial Post reports in its Friday edition that Postmedia's operating income before certain items ticked up in the third quarter, but not enough to prevent the company from posting a wider net loss. The unbylined item says that for the three months ended May 31, the company that owns the National Post and many major city newspaper titles posted a $9.4-million decrease in revenue to $111.2-million from $120.6-million in the same period in the prior year. It said this decline was primarily due to a $9.9-million decrease in advertising revenue and $6.7-million decrease in circulation revenue, partially offset by increases in parcel revenue of $4.6-million and other revenue of $2.5-million. Excluding the impact of its acquisition of Brunswick News, which closed on March 25, revenue would have been $96.2-million, a decrease of $13-million from the prior year. Operating income in the third quarter was $4.5-million, an increase of $1.9-million. The increase, measured before taking depreciation, amortization, impairment and restructuring into account, was attributed to a 9.6-per-cent decline in total operating expenses. Chief executive officer Andrew MacLeod said the company is focusing on "aggressive transformation."