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