Washington Post 1999 Annual Report Download - page 23

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N. SUMMARY OF QUARTERLY OPERATING RESULTS AND COMPREHENSIVE INCOME (UNAUDITED)
Quarterly results of operations and comprehensive income for the years ended January 2, 2000 and January 3, 1999 are as follows
(in thousands, except per share amounts):
First Second Third Fourth
Quarter Quarter Quarter Quarter
1999 Quarterly Operating Results
Operating revenues
Advertising .....................................................................$300,002 $ 341,602 $ 311,891 $ 377,065
Circulation and subscriber ................................................... 141,431 142,854 147,016 148,393
Education ....................................................................... 52,018 55,284 67,522 65,251
Other ............................................................................ 26,946 17,455 13,151 7,691
520,397 557,195 539,580 598,400
Operating costs and expenses
Operating ....................................................................... 286,583 294,172 293,948 314,698
Selling, general and administrative.......................................... 116,997 116,414 118,198 123,311
Depreciation of property, plant and equipment ............................ 25,118 25,305 26,265 27,547
Amortization of goodwill and other intangibles ............................ 14,425 14,619 14,813 14,706
443,123 450,510 453,224 480,262
Income from operations .......................................................... 77,274 106,685 86,356 118,138
Equity in (losses) earnings of affiliates...................................... (2,510) 731 (59) (6,975)
Interest income ................................................................. 246 213 186 452
Interest expense ................................................................ (6,813) (5,441) (6,473) (8,059)
Other income (expense), net ................................................... 6,143 9,471 8,279 (2,458)
Income before income taxes ..................................................... 74,340 111,659 88,289 101,098
Provision for income taxes....................................................... 29,150 43,750 36,600 40,100
Net income ......................................................................... 45,190 67,909 51,689 60,998
Redeemable preferred stock dividends .......................................... (475) (237) (237) —
Net income available for common shares ...................................... $44,715 $ 67,672 $ 51,452 $ 60,998
Basic earnings per common share ..............................................$4.43 $ 6.70 $ 5.12 $ 6.11
Diluted earnings per common share .......................................$ 4.41 $ 6.67 $ 5.10 $ 6.09
Basic average number of common shares outstanding ....................... 10,098 10,098 10,060 9,988
Diluted average number of common shares outstanding ..................... 10,143 10,140 10,101 10,008
1999 Quarterly Comprehensive Income ....................................$47,803 $ 50,808 $ 19,615 $ 67,559
54 THE WASHINGTON POST COMPANY