By: (AP) Newspaper publisher Washington Post Co. today reported a slight drop in fourth-quarter earnings, as gains at its education and cable businesses were offset by declines at other divisions.
Earnings fell to $102.4 million, or $10.65 per share, down 4% from the prior-year quarter's $105.9 million, or $11.03 per share. Revenue grew 5% to $948.7 million from $902.7 million.
The Post said it saw significant revenue growth at its Kaplan educational group and a small increase at the cable division. Operating results declined at the company's television broadcasting and newspaper publishing divisions, offset by increases in education and magazine publishing.
The Post said that expenses related to Katrina and other hurricanes reduced operating income by $4.7 million, or 49 cents per share. The effects were mainly felt in the cable operations in Mississippi, but the television broadcasting and education division were also affected, the company said.
Analysts expected the Post, which also publishes Newsweek magazine, to post a profit of $8.75 per share on revenue of $946.6 million, according to Thomson Financial.
For the full year, the Post's earnings fell 6% to $313.4 million, or $32.59 per share, from 2004's profit of $331.7 million, or $34.59 per share. Annual revenue increased 8% to $3.55 billion from $3.3 billion.
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