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Profile of the week

Published on .

Knight Ridder, the No. 2 newspaper publisher in the U.S., reported record results for 1999 with ad sales up 4.5% to $2.5 billion. A 4% to 5% ad sales gain was forecast for 2000. Fueled by dot-com ads, the general ad category in 1999 was up 21%, classified up 3.7% and retail up 1.2%. Net income was $340 million for 1999, up 11%, and $99.4 million in the fourth quarter, up 20%; revenue was $3.23 billion for 1999, up 4.4%, and $863 million for the quarter, up 5.8%. In trading Friday, Knight Ridder closed at $53.75, down 4.4% for the week.
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