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Investor Relations

SEC Filings

10-Q
GRAHAM HOLDINGS CO filed this Form 10-Q on 11/15/1994
Entire Document
 
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                                                                              3.



PART I.  FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

THE WASHINGTON POST COMPANY
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)


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<CAPTION>
                                                              THIRTEEN WEEKS ENDED             THIRTY-NINE WEEKS ENDED
                                                            -------------------------         --------------------------
                                                             OCT. 2,          OCT. 3,          OCT. 2,           OCT. 3,
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)                      1994             1993             1994              1993  
                                                            --------         --------         --------          --------
<S>                                                         <C>              <C>            <C>               <C>
OPERATING REVENUES
  ADVERTISING                                               $245,042         $208,972       $  718,920        $  656,652
  CIRCULATION AND SUBSCRIBER                                 107,522          110,091          326,784           336,298
  OTHER                                                       47,262           45,059          117,390           109,583
                                                             -------          -------        ---------         ---------
                                                             399,826          364,122        1,163,094         1,102,533
                                                             -------          -------        ---------         ---------
OPERATING COSTS AND EXPENSES
  OPERATING                                                  215,295          199,287          631,078           587,967
  SELLING, GENERAL AND ADMINISTRATIVE                         95,045           90,990          281,162           288,722
  DEPRECIATION AND AMORTIZATION OF
    PROPERTY, PLANT AND EQUIPMENT                             15,663           14,773           45,733            44,855
  AMORTIZATION OF GOODWILL AND OTHER
    INTANGIBLES                                                7,570            4,058           18,103            12,183
                                                             -------          -------        ---------         ---------
                                                             333,573          309,108          976,076           933,727
                                                             -------          -------        ---------         ---------
INCOME FROM OPERATIONS                                        66,253           55,014          187,018           168,806

OTHER INCOME (EXPENSE)
  EQUITY IN EARNINGS (LOSSES) OF AFFILIATES                   11,091              (11)           7,917            (2,397)
  INTEREST INCOME                                              1,427            2,653            7,022             7,747
  INTEREST EXPENSE                                            (1,332)          (1,029)          (4,180)           (3,460)
  OTHER                                                          508           19,266            3,114            19,853
                                                             -------          -------        ---------         ---------

INCOME BEFORE INCOME TAXES AND CUMULATIVE
  EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE                    77,947           75,893          200,891           190,549
                                                             -------          -------        ---------         ---------

PROVISION FOR INCOME TAXES
  CURRENT                                                     31,165           32,259           85,891            81,487
  DEFERRED                                                      (670)          (1,209)          (2,521)           (2,277)
                                                             -------          -------        ---------         --------- 
                                                              30,495           31,050           83,370            79,210
                                                             -------          -------        ---------         ---------
INCOME BEFORE CUMULATIVE EFFECT OF
  CHANGE IN ACCOUNTING PRINCIPLE                              47,452           44,843          117,521           111,339

CUMULATIVE EFFECT OF CHANGE IN METHOD
  OF ACCOUNTING FOR INCOME TAXES                                   -                -                -            11,600
                                                             -------          -------        ---------         ---------

NET INCOME                                                  $ 47,452         $ 44,843       $  117,521        $  122,939
                                                             =======          =======        =========         =========

EARNINGS PER SHARE:
  BEFORE CUMULATIVE EFFECT OF CHANGE IN
    ACCOUNTING PRINCIPLE                                    $   4.13         $   3.82       $    10.11        $     9.47
  CUMULATIVE EFFECT OF CHANGE IN
    ACCOUNTING PRINCIPLE                                           -                -                -               .98
                                                             -------          -------        ---------         ---------
  NET INCOME                                                $   4.13         $   3.82       $    10.11        $    10.45
                                                             =======          =======        =========         =========

DIVIDENDS DECLARED PER SHARE                                $   2.10         $   2.10       $     4.20        $     4.20
                                                             =======          =======        =========         =========

AVERAGE NUMBER OF SHARES OUTSTANDING                          11,492           11,731           11,627            11,760
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