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EARNINGS
Washington Post Co. Swings to a Loss
The Washington Post Co. swung to a loss for the second time in less than a year as first-quarter earnings were dragged down by losses in its newspaper and magazine divisions and expenses in its education division, the company reported yesterday.
The Post Co. reported a net loss of $19.5 million ($2.04 per share) on first-quarter revenue of $1.05 billion, compared with net income of $39.3 million ($4.08) on revenue of $1.06 billion in the first quarter of 2008.
The newspaper division reported an operating loss of $53.8 million. It had a first-quarter operating income of $1.2 million a year earlier. Print advertising revenue at The Post plummeted 33 percent in the first three months of this year.
In recent years, The Post Co. has received most of its earnings from its Kaplan Inc. education division and its Cable One cable division.
At Kaplan, revenue rose 9 percent but operating income fell 76 percent. The cable division recorded a 5 percent gain in first-quarter revenue and a 23 percent gain in operating income.
-- Frank Ahrens
Anthrax Drug Maker Turns a Profit
Human Genome Sciences of Rockville reported a first-quarter profit on sales of its anthrax treatment ABthrax to the U.S. government, which stockpiles it in case of a national emergency.
The company earned $129.8 million (85 cents a share), compared with a loss of $52.7 million (39 cents) in the first quarter last year. Revenue surged to $177.3 million from $12.3 million, mainly because of ABthrax sales.
-- Associated Press
DEFENSE
CACI to Change NYSE Ticker Symbol
CACI International of Arlington said it is changing its ticker symbol from CAI to CACI now that companies are allowed to have four-letter symbols on the New York Stock Exchange. The change will take effect Monday.
-- Terri Rupar
