Net income rose 57.3% to $114.2 million from $72.6 million in 2001, but after factoring out accounting changes, some of which were for the amortization of goodwill, net income dropped 7.4% from $123.3 million in 2001.
Advertising revenue showed picked up during the quarter, said Donald Grenesko, senior vice president of finance and administration. While help-wanted ad revenue was down 23% for the newspaper group, it was better than its 40% drop in the first quarter, and auto and real estate classified advertising were up 7% and 5%, respectively, for the quarter. National and retail newspaper advertising each were up 2% for the quarter, and TV ad revenue rose 3%.
Classified ad revenue for July appears flat year-over-year, and both retail and national appear stronger, while July and August TV ad revenues are expected to be up in the single-digit range, Mr. Grenesko said.