Washington Post reports Q1 loss

Washington Post reports it moved to a loss in the first quarter on one-time impairment and restructuring costs.

The company, whose properties include Newsweek magazine, Kaplan education services and its namesake newspaper, lost $19.2 million, or $2.04 per share, compared with a profit of $38.8 million, or $4.08 per share, in the year-ago quarter.

Results included $16.9 million in restructuring costs at its Kaplan unit, a $13.4 million write-off on the value of The Washington Post newspaper and $6.6 million in early retirement costs at Newsweek.

Revenue slid 1 per cent to $1.05 billion from $1.06 billion, mostly because of falling ad sales in the newspaper, television and magazine divisions, Washington Post Co said.