Washington Post reports 1st-quarter loss on charges, slight decline in revenue
By APFriday, May 1, 2009
Washington Post reports 1st-quarter loss
WASHINGTON — Washington Post reports it moved to a loss in the first quarter on one-time impairment and restructuring costs.
The company, whose properties include Newsweek magazine, Kaplan education services and its namesake newspaper, lost $19.2 million, or $2.04 per share, compared with a profit of $38.8 million, or $4.08 per share, in the year-ago quarter.
Results included $16.9 million in restructuring costs at its Kaplan unit, a $13.4 million write-off on the value of The Washington Post newspaper and $6.6 million in early retirement costs at Newsweek.
Revenue slid 1 percent to $1.05 billion from $1.06 billion, mostly because of falling ad sales in the newspaper, television and magazine divisions, Washington Post Co. said.
Tags: D.c., Financing, Lost, North America, Restructuring And Recapitalization, United States, Us-earns-washington-post, Washington
