Washington Post Co. Profits Sag in Q4

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By: E&P Staff

The Washington Post Co., publisher of The Washington Post and Newsweek, generated fourth-quarter profits last year of $87.5 million, down from $93.7 million in the comparable period in 2002.

The company said Thursday that the loss was partly due to a one-time charge of $19.5 million for early retirement buyouts last year.

Revenues, however, rose from $695.9 million in the final quarter of 2002 to $785.5 million in last year’s fourth quarter.

For the year, net income rose to $241.1 million, from $204.3 million.

Advertising revenue at the Post (Click for QuikCap) was up 3% last year. But circulation fell 2% daily and 1.8% on Sundays, bringing Monday-Saturday sales to about 745,000 and Sunday distribution to 1.04 million.

Revenue at the company’s online division — primarily washingtonpost.com — was $46.9 million in 2003, compared to $35.9 the year before.

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