News Cycle

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Washington Post’s 4Q Profit Quadruples

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The Washington Post Co. today reported net income of $91.2 million ($9.78 per share) for the fiscal year ended Jan. 3, up from $65.8 million ($6.87 per share) for the fiscal year ended Dec. 28, 2008.

Net income for the fourth quarter of 2009 was $82.2 million ($8.71 per share), up from $18.8 million ($2.01 per share) for the fourth quarter of 2008. Operating income for 2009 increased to $194.0 million, from $174.2 million in 2008. For the fourth quarter of 2009, operating income increased to $146.2 million, from $62.3 million in 2008.

Excluding charges related to early retirement programs, the company’s 2009 and 2008 operating income included $8.1 million and $25.7 million, respectively, of net pension credits. For the fourth quarter of 2009 and 2008, operating income included $2.9 million and $5.9 million, respectively, of net pension credits. Overall, the Company estimates a total net pension credit of $2.0 million in 2010.

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Written by newscycle

February 24, 2010 at 10:58 am

Posted in Washington Post

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