Knight-Ridder Newspapers Inc. reported that its third-quarter...

Knight-Ridder Newspapers Inc. reported that its third-quarter net income and sales in 1985 were down from the same period a year ago. Earnings dropped to $26.17 million from $30.08 million as sales fell from $284.23 million to $278.71 million. Robert F. Singleton, Knight-Ridder’s senior vice president-finance and chief financial officer, said: “The strike at our two newspapers in Philadelphia has been quite costly and resulted in a drop in our net income. Earnings per share, however, were flat with last year thanks to the purchase of 9.5 million shares of our stock from the estate of John S. Knight in May.” For the nine months of 1985, Knight-Ridder’s net hit $91.94 million, compared to $94.62 million during the same period last year. Revenue in 1985 reached $891.81 million, compared to $859.51 million in 1984.