Washington Post 2000 Annual Report Download - page 24

The Washington Post Company 49
IN ISUMMARY OF QUARTERLY OPERATING RESULTS AND COMPREHENSIVE INCOME (UNAUDITED)
Quarterly results of operations and comprehensive income for the years ended December 31, 2000 and January 2, 2000 are as follows
(in thousands, except per share amounts):
First Second Third Fourth
Quarter Quarter Quarter Quarter
2000 Quarterly Operating Results
Operating revenue
Advertising....................................................................................................... $ 318,865 $ 353,514 $ 338,428 $ 385,776
Circulation and subscriber................................................................................ 147,589 148,905 151,144 153,619
Education ........................................................................................................ 71,450 68,803 99,428 113,072
Other ............................................................................................................... 8,867 20,318 13,452 18,919
546,771 591,540 602,452 671,386
Operating costs and expenses
Operating......................................................................................................... 296,072 316,252 340,733 355,006
Selling, general, and administrative .................................................................. 135,421 138,704 131,206 178,291
Depreciation of property, plant, and equipment................................................. 28,386 28,638 30,019 30,905
Amortization of goodwill and other intangibles................................................... 14,738 14,755 15,937 17,204
474,617 498,349 517,895 581,406
Income from operations ....................................................................................... 72,154 93,191 84,557 89,980
Other income (expense)
Equity in losses of affiliates ............................................................................... (11,304) (9,471) (8,890) (6,800)
Interest income ................................................................................................ 224 275 228 241
Interest expense............................................................................................... (12,567) (12,573) (14,617) (14,974)
Other income (expense), net ............................................................................ (6,938) 1,556 238 (14,639)
Income before income taxes................................................................................. 41,569 72,978 61,516 53,808
Provision for income taxes.................................................................................... 17,500 31,800 28,000 16,100
Net income .......................................................................................................... 24,069 41,178 33,516 37,708
Redeemable preferred stock dividends................................................................. (500) (263) (263) —
Net income available for common shares.............................................................. $ 23,569 $ 40,915 $ 33,253 $ 37,708
Basic earnings per common share ....................................................................... $ 2.50 $ 4.33 $ 3.52 $ 3.99
Diluted earnings per common share ..................................................................... $ 2.49 $ 4.33 $ 3.51 $ 3.98
Basic average number of common shares outstanding.......................................... 9,440 9,443 9,448 9,452
Diluted average number of common shares outstanding ....................................... 9,458 9,458 9,463 9,470
2000 Quarterly Comprehensive Income.............................................................. $ 21,152 $ 25,492 $ 49,789 $ 46,586