Washington Post reports lower 4Q net income

WASHINGTON (AP) - The Washington Post Co. says its fourth-quarter net income declined 3 percent, as revenue was flat.

The company said Wednesday that net income totaled $79 million, or $9.42 per share. That's down from $81.7 million, or $8.71 per share, in the same period a year earlier. The company had more shares outstanding in the quarter a year ago, increasing per-share results.

Revenue was $1.19 billion, about the same as a year ago.

The company, which has sold Newsweek magazine, relies heavily on its Kaplan business for growth. Kaplan's revenue dropped 1 percent to $700 million from $709 million.

The Post says it saw strong revenue growth at its TV broadcasting division, thanks in part of political advertising. It was offset by declines in the education and newspaper publishing segments.

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