ap Inc., publisher of The Denver Post, reported a 34 percent jump in quarterly net income, according to a filing the company made Friday.
Net income rose to $17.35 million during the company’s fiscal second quarter, which ended Dec. 31. That compares with $12.96 million in the previous fiscal second quarter.
One-time special charges related to the recovery of $3.8 million in legal fees and the sale of interests in newspapers drove much of the gain.
Revenues in the quarter declined 7.3 percent to $345.3 million from $372.5 million during the same period a year earlier.
The company’s share of income from a joint operating agreement overseeing operations at The Post and the Rocky Mountain News was $8.8 million in the quarter, up from $3.4 million a year earlier.
Excluding depreciation and amortization expenses tied to an old printing facility, income from the Denver joint operating agreement was up $2.3 million between the comparable quarters.
Privately owned MediaNews is the nation’s fourth-largest newspaper group, with 58 paid daily newspapers and approximately 100 non-daily publications in 12 states.
Aldo Svaldi: 303-954-1410 or asvaldi@denverpost.com
