Washington Post 2010 Annual Report Download - page 108

S. SUMMARY OF QUARTERLY OPERATING RESULTS AND COMPREHENSIVE INCOME (UNAUDITED)
Quarterly results of operations and comprehensive income for the years ended January 2, 2011 and January 3, 2010 are as follows:
(in thousands, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter
2010 Quarterly Operating Results
Operating Revenues
Education ............................................. $ 711,382 $ 747,323 $ 743,319 $ 699,787
Advertising ............................................ 184,182 207,241 200,532 241,650
Circulation and subscriber ................................. 213,454 215,995 213,377 214,464
Other ................................................ 33,013 31,253 32,495 34,106
1,142,031 1,201,812 1,189,723 1,190,007
Operating Costs and Expenses
Operating ............................................ 469,624 473,480 476,918 499,508
Selling, general and administrative .......................... 501,190 496,106 487,183 470,279
Depreciation of property, plant and equipment .................. 61,598 61,133 61,049 64,005
Amortization of intangible assets ............................ 6,516 7,604 6,521 6,550
Impairment of goodwill and other long-lived assets ............... — — 27,477 —
1,038,928 1,038,323 1,059,148 1,040,342
Income from Operations 103,103 163,489 130,575 149,665
Equity in (losses) earnings of affiliates, net ...................... (8,109) 2,027 2,140 (191)
Interest income ......................................... 326 599 600 1,051
Interest expense ........................................ (7,579) (7,598) (7,633) (7,693)
Other (expense) income, net ............................... (3,321) (5,170) 12,486 4,657
Income from Continuing Operations Before Income Taxes .......... 84,420 153,347 138,168 147,489
Provision for Income Taxes ................................... 32,400 58,900 56,800 68,500
Income from Continuing Operations ........................... 52,020 94,447 81,368 78,989
Loss from Discontinued Operations, Net of Tax ................... (6,192) (2,320) (20,292) —
Net Income ............................................... 45,828 92,127 61,076 78,989
Net Loss (Income) Attributable to Noncontrolling Interests ........... 12 8 76 (2)
Net Income Attributable to The Washington Post Company ......... 45,840 92,135 61,152 78,987
Redeemable Preferred Stock Dividends ......................... (461) (231) (230) —
Net Income Available for The Washington Post Company common
stockholders ............................................ $ 45,379 $ 91,904 $ 60,922 $ 78,987
Amounts Attributable to The Washington Post Company Common
Stockholders:
Income from continuing operations ............................ $ 51,571 $ 94,224 $ 81,214 $ 78,987
Loss from discontinued operations, net of tax ..................... (6,192) (2,320) (20,292) —
Net income available for The Washington Post Company common
stockholders ........................................... $ 45,379 $ 91,904 $ 60,922 $ 78,987
Per Share Information Attributable to The Washington Post Company
Common Stockholders:
Basic income per common share from continuing operations .......... $ 5.58 $ 10.25 $ 9.13 $ 9.42
Basic loss per common share from discontinued operations ........... (0.67) (0.25) (2.28) —
Basic net income per common share ........................... $ 4.91 $ 10.00 $ 6.85 $ 9.42
Diluted income per common share from continuing operations ........ $ 5.58 $ 10.25 $ 9.12 $ 9.42
Diluted loss per common share from discontinued operations ......... (0.67) (0.25) (2.28) —
Diluted net income per common share .......................... $ 4.91 $ 10.00 $ 6.84 $ 9.42
Basic average number of common shares outstanding .............. 9,175 9,126 8,839 8,336
Diluted average number of common shares outstanding ............. 9,241 9,193 8,904 8,385
2010 Quarterly comprehensive income ......................... $ 91,370 $ 33,291 $ 83,421 $ 147,552
The sum of the four quarters may not necessarily be equal to the annual amounts reported in the Consolidated Statements of Operations due to rounding.
92 THE WASHINGTON POST COMPANY