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SEC Filings

10-Q
GRAHAM HOLDINGS CO filed this Form 10-Q on 05/18/1994
Entire Document
 
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PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

The Washington Post Company
Consolidated Statements of Income (Unaudited)

<TABLE>
<CAPTION>
                                                                                    Thirteen Weeks Ended  
                                                                               -------------------------------
                                                                               April 3,               April 4,
(In thousands, except per share amounts)                                         1994                   1993  
                                                                               --------               --------
<S>                                                                            <C>                   <C>
Operating revenues
   Advertising                                                                  $212,195               $214,602
   Circulation and subscriber                                                    109,165                113,428
   Other                                                                          37,094                 33,676
                                                                                 -------               --------
                                                                                 358,454                361,706
                                                                                 -------               --------

Operating costs and expenses
   Operating                                                                     199,553                195,083
   Selling, general and administrative                                            88,957                 97,783
   Depreciation and amortization of property,
      plant and equipment                                                         14,710                 14,982
   Amortization of goodwill and other intangibles                                  4,031                  4,067
                                                                                 -------                -------
                                                                                 307,251                311,915
                                                                                 -------                -------

Income from operations                                                            51,203                 49,791

Other income (expense)
   Equity in losses of affiliates                                                 (5,385)                (1,795)
   Interest income                                                                 3,565                  2,606
   Interest expense                                                               (1,435)                (1,446)
   Other                                                                           2,604                    (51)
                                                                                 -------                ------- 

Income before income taxes and cumulative
   effect of change in accounting principle                                       50,552                 49,105
                                                                                 -------                -------

Provision for income taxes
   Current                                                                        22,962                 20,991
   Deferred                                                                       (1,222)                  (391)
                                                                                 -------                ------- 
                                                                                  21,740                 20,600
                                                                                 -------                -------

Income before cumulative effect of change in
   accounting principle                                                           28,812                 28,505
                                                                                                       
Cumulative effect of change in method of
   accounting for income taxes                                                        --                 11,600
                                                                                 -------                -------

Net income                                                                      $ 28,812               $ 40,105
                                                                                 =======                =======

Earnings per share:
   Before cumulative effect of change in
      accounting principle                                                         $2.46                  $2.42

   Cumulative effect of change in
      accounting principle                                                            --                    .98
                                                                                  ------                 ------

   Net income                                                                    $  2.46                $  3.40
                                                                                  ======                 ======

Dividends declared per share                                                     $  2.10                $  2.10
                                                                                  ======                 ======

Average number of shares outstanding                                              11,720                 11,796
</TABLE>


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