Knight-Ridder Inc. attributed a 58% increase in...
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Knight-Ridder Inc. attributed a 58% increase in its first-quarter profit primarily to a 0.2% decrease in total operating costs, including a 15.3% drop in the cost of newsprint, ink and supplements.
The Miami-based media company earned $25 million, or 46 cents a share, in the January-March period, up from $15.8 million, or 32 cents a share, in the same quarter last year. Revenue in the quarter edged up 1.8% to $555 million from $545 million in 1991.
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