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K-III sales up, but loss grows

Published on .

K-III Communications Corp., which began trading on the New York Stock Exchange Nov. 2, Tuesday reported sales for the third quarter ended Sept. 30 rose 6% to $265.6 million compared to a year ago but that net loss increased to $14.6 million from $5.9 million a year ago. Sales for the nine-month period were up 10.7% to $761.5 million with a net loss increasing to $114.2 million compared to a loss of $62.8 million last year. The company said the loss was due to accounting changes and one-time charges. Excluding those factors, the company said operating income in the nine months rose to $18.1 million compared to a loss of $3.4 million in the same period a year ago.

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