华盛顿邮报三季度财报英文版.docx

1、华盛顿邮报三季度财报英文版WASHINGTON-(BUSINESS WIRE)- The Washington Post Company (NYSE:WPO - News) today reported net income available for common shares of $60.9 million ($6.84 per share) for the third quarter ended October 3, 2010, compared to net income available for common shares of $17.1 million ($1.81 per

2、share) for the third quarter of last year. Net income includes $20.3 million ($2.28 per share) and $8.9 million ($0.95 per share) in losses from discontinued operations for the third quarter of 2010 and 2009, respectively. Income from continuing operations available for common shares was $81.2 milli

3、on ($9.12 per share) for the third quarter of 2010, compared to $25.9 million ($2.76 per share) for the third quarter of 2009. There were fewer diluted average shares outstanding in 2010. Kaplans higher education businesses are subject to a number of recently enacted and pending regulations by the D

4、epartment of Education. Also, Kaplan is launching a new program entitled the “Kaplan Commitment” that includes a “risk-free period” of enrollment. The recent and potential rulemaking activities and the “Kaplan Commitment” could have a material adverse effect on Kaplans operating results. On Septembe

5、r 30, 2010, the Company completed the sale of Newsweek. Consequently, the Companys income from continuing operations for the third quarter and year-to-date periods excludes Newsweek results, which have been reclassified to discontinued operations. Items included in the Companys income from continuin

6、g operations for the third quarter of 2010: A $27.5 million goodwill and other long-lived assets impairment charge at the Companys online lead generation business, included in other businesses (after-tax impact of $26.3 million, or $2.96 per share); and $11.9 million in non-operating unrealized fore

7、ign currency gains arising from the weakening of the U.S. dollar (after-tax impact of $7.5 million, or $0.84 per share). Items included in the Companys income from continuing operations for the third quarter of 2009: $6.1 million in accelerated depreciation at The Washington Post (after-tax impact o

8、f $3.8 million, or $0.40 per share); A $25.4 million goodwill and other long-lived assets impairment charge related to Kaplan Ventures (after-tax impact of $18.8 million, or $2.00 per share); and A decline in equity in earnings (losses) of affiliates associated with $29.0 million in impairment charg

9、es at two of the Companys affiliates (after-tax impact of $18.8 million, or $2.00 per share). Revenue for the third quarter of 2010 was $1,189.7 million, up 7% from $1,108.8 million in the third quarter of 2009, due to increased revenues at the education, television broadcasting and newspaper publis

10、hing divisions, offset by a small decrease at the cable television division. Operating income increased in the third quarter of 2010 to $130.6 million, from $74.6 million in the third quarter of 2009, due to improved operating results at the education, television broadcasting and newspaper publishin

11、g divisions. For the first nine months of 2010, the Company reported net income available for common shares of $198.2 million ($21.75 per share), compared to net income available for common shares of $10.1 million ($1.08 per share) for the same period of 2009. Net income includes $28.8 million ($3.1

12、6 per share) and $35.4 million ($3.77 per share) in losses from discontinued operations for the first nine months of 2010 and 2009, respectively. Income from continuing operations available for common shares was $227.0 million ($24.91 per share) for the first nine months of 2010, compared to $45.6 m

13、illion ($4.85 per share) for the first nine months of 2009. There were fewer diluted average shares outstanding in 2010. Items included in the Companys income from continuing operations for the first nine months of 2010: A $20.4 million charge recorded at The Washington Post in connection with the p

14、lanned withdrawal from a multiemployer pension plan (after-tax impact of $12.7 million, or $1.38 per share); A $27.5 million goodwill and other long-lived assets impairment charge at the Companys online lead generation business, included in other businesses (after-tax impact of $26.3 million, or $2.

15、96 per share); and $4.8 million in non-operating unrealized foreign currency gains arising from the weakening of the U.S. dollar (after-tax impact of $3.1 million, or $0.36 per share). Items included in the Companys income from continuing operations for the first nine months of 2009: $56.8 million i

16、n early retirement program expense at The Washington Post (after-tax impact of $35.2 million, or $3.77 per share); $33.0 million in restructuring charges related to Kaplans Score and Test Preparation operations (after-tax impact of $20.5 million, or $2.18 per share); $33.8 million in accelerated dep

17、reciation at The Washington Post (after-tax impact of $21.0 million, or $2.23 per share); A $25.4 million goodwill and other long-lived assets impairment charge related to Kaplan Ventures (after-tax impact of $18.8 million, or $2.00 per share); A decline in equity in earnings (losses) of affiliates

18、associated with $29.0 million in impairment charges at two of the Companys affiliates (after-tax impact of $18.8 million, or $2.00 per share); and $18.4 million in non-operating unrealized foreign currency gains arising from the weakening of the U.S. dollar (after-tax impact of $11.4 million, or $1.

19、21 per share). Revenue for the first nine months of 2010 was $3,533.6 million, up 10% from $3,200.3 million in the first nine months of 2009. The Company reported operating income of $397.2 million for the first nine months of 2010, compared to $103.1 million for the first nine months of 2009. Reven

20、ue and operating results improved at all of the Companys divisions for the first nine months of 2010. Division Results Education Education division revenue totaled $743.3 million for the third quarter of 2010, a 9% increase over revenue of $684.5 million for the same period of 2009. Kaplan reported

21、operating income of $99.1 million for the third quarter of 2010, up from $45.9 million in the third quarter of 2009. Results for the third quarter of 2009 included a goodwill and other long-lived assets impairment charge of $25.4 million related to two businesses at Kaplan Ventures. For the first ni

22、ne months of 2010, education division revenue totaled $2,202.0 million, a 14% increase over revenue of $1,927.4 million for the same period of 2009. Kaplan reported operating income of $266.0 million for the first nine months of 2010, up from $115.2 million for the first nine months of 2009. Results

23、 for the first nine months of 2010 included $7.8 million in restructuring costs related to Kaplans K12 business; results for the first nine months of 2009 included $33.0 million in restructuring charges related to Score and Test Preparation operations and a $25.4 million goodwill and other long-live

24、d assets impairment charge related to two businesses at Kaplan Ventures. A summary of Kaplans operating results for the third quarter and the first nine months of 2010 compared to 2009 is as follows: Third Quarter YTD (In thousands) % % 2010 2009 Change 2010 2009 Change Revenue Higher education $ 46

25、5,703 $ 408,537 14 $ 1,383,396 $ 1,118,971 24 Test preparation, excluding Score 101,491 108,386 (6 ) 313,006 332,314 (6 ) Score 205 8,557 Kaplan international 151,208 138,089 10 422,582 382,066 11 Kaplan ventures 24,865 31,102 (20 ) 85,903 91,628 (6 ) Kaplan corporate 1,375 728 89 3,949 1,941 Inters

26、egment elimination (1,323 ) (2,531 ) (6,812 ) (8,108 ) $ 743,319 $ 684,516 9 $ 2,202,024 $ 1,927,369 14 Operating Income Higher education $ 117,319 $ 90,026 30 $ 329,455 $ 203,744 62 Test preparation, excluding Score (2,368 ) 3,898 (9,731 ) 20,882 Score (371 ) (36,539 ) Kaplan international 14,904 8

27、,311 79 32,376 27,304 19 Kaplan ventures (11,428 ) (7,864 ) (45 ) (25,351 ) (14,134 ) (79 ) Kaplan corporate (16,756 ) (15,484 ) (8 ) (45,148 ) (38,535 ) (17 ) Kaplan stock compensation 2,397 (1,697 ) 1,310 (5,155 ) Amortization of intangible assets (4,998 ) (5,617 ) 11 (16,629 ) (17,247 ) 4 Impairm

28、ent of goodwill and other long-lived assets (25,387 ) (25,387 ) Intersegment elimination 30 85 (252 ) 236 $ 99,100 $ 45,900 $ 266,030 $ 115,169 Kaplan Higher Education (KHE) includes Kaplans domestic postsecondary education businesses, made up of fixed-facility colleges and online postsecondary and

29、career programs. Higher education revenue and operating income grew in the first nine months of 2010 due to enrollment growth, improved student retention and increased margins. Total KHE enrollments increased 8% compared to enrollments at September 30, 2009; KHE enrollments in the prior year increased 28% com