WASHINGTON — The Washington Post Co. on Friday reported a 22 percent drop in fourth-quarter net income.
The media and education company reported net income of $61.7 million or $8.03 per share for the October to December period, down from earnings of $79 million, or $9.42 per share, a year earlier.
Revenue fell 10 percent to $1.06 billion from $1.18 billion. Revenue declined at all of its divisions except cable TV, where it was flat.
The company said its latest quarter included several one-time items, including $9.6 million in severance and restructuring charges at the Kaplan education business.
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