SOUTHAM INC <STM.TO> 1ST QTR NET
Oper shr 32 cts vs 37 cts
    Oper net 18.9 mln vs 21.6 mln
    Revs 352.1 mln vs 323.0 mln
    Note: 1987 net excludes extraordinary gain of 2.8 mln dlrs
or five cts shr from sale of surplus property.
 Reuter
