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KNIGHT-RIDDER ANNOUNCES RESULTS

 KNIGHT-RIDDER ANNOUNCES RESULTS
 MIAMI, April 21 /PRNewswire/ -- Knight-Ridder, Inc. (NYSE: KRI)


earned $.46 a share in the first quarter of 1992, a 43.8 percent gain over the $.32 a share earned in the first quarter a year ago. Net income was up 58.0 percent to $25,006,000 from $15,830,000 a year earlier.
 Operating income was $50,360,000, a gain of 27.4 percent over the $39,520,000 reported in the first quarter of 1991. Total operating revenue rose 1.8 percent to $555,438,000.
 Newspaper Division
 Knight-Ridder's Newspaper Division earned $54,410,000, a gain of 19.9 percent over $45,362,000 in the first quarter of 1991. Newspaper operating revenue for the quarter was $458,998,000, up .7 percent over $455,926,000 a year ago. Newspaper Division operating costs were down 1.5 percent.
 Business Information Services
 Operating income from Business Information Services rose 21.8 percent to $4,624,000 from $3,796,000 in the first quarter of 1991. BIS operating revenue was up 7.7 percent to $96,440,000 from $89,515,000 a year earlier.
 Comments by Chief Financial Officer Robert F. Singleton
 Robert F. Singleton, Knight-Ridder's chief financial officer, said, "We began to see faint but distinct signs of improvement in newspaper advertising revenue during the quarter. But the strong bottom line results were primarily due to lower costs, particularly in newsprint. Total operating expenses were down .2 percent. This included a 15.3 percent decrease in newsprint, ink and supplements, most of which came from newsprint price savings.
 "Below the operating line, the results were further boosted by lower net interest expense, thanks to reduced debt levels, and higher capitalized interest associated with our new plant in Philadelphia, which is now scheduled to begin initial operations late in the second quarter," Singleton said.
 "Although newspaper advertising revenue was down 1.9 percent vs. the first quarter of last year, the trend line during the quarter was encouraging. Total classified advertising revenue, which was down 3.6 percent in January, rose 4.8 percent in March, the best performance we've seen in that important category since September 1990. Help- wanted classified revenue, which was down 11 percent in January was up 9.4 percent in March. We had strong March performances in classified revenue in Philadelphia, Detroit and Miami," Singleton said. "Except for Miami, retail advertising remained weak in most places. Miami had a particularly good quarter with revenue gains in all three major advertising categories as well as El Nuevo, Miami's Spanish language newspaper."
 Singleton said, "BIS was helped by excellent growth at Dialog and continuing strong acceptance of the growing MoneyCenter product line, which also continues to show double digit growth. Dialog usage and revenue were both strong. Our newest product, MoneyCenter for Windows, is achieving fine early success. BIS revenue growth for the quarter was hampered by continuing disconnects in other product lines, unfavorable strengthening of the dollar against the yen and sterling and single digit growth in the Transport Group."
 Singleton said, "BIS appears to be headed toward another good year. We feel very good about the outlook for Dialog and the MoneyCenter product line.
 "We are cautiously optimistic about the outlook for the remainder of 1992," Singleton said. "Although we don't expect the bottom line results to be nearly as robust in the remaining three quarters as they were in this one, we are anticipating earnings growth in each quarter. Barring a major setback in the economy, we expect to be up for the year. Much of the result, however, will depend on the state of the economy and the growth of newspaper advertising revenue. We will continue to control costs accordingly and we expect newsprint prices to remain soft for the balance of the year."
 Knight-Ridder is an international communications company engaged in newspaper publishing, business news and information services, electronic retrieval services, news, graphics and photo services, cable television and newsprint manufacturing. The company publishes 29 daily newspapers in the United States. Around the world, news, advertising and information from Knight-Ridder reach more than 100 million people in well over 100 countries.
 The financial schedules for the quarter are attached.
 KNIGHT-RIDDER, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENT OF INCOME
 (In thousands of dollars, except share data)
 Quarter Ended Four Quarters Ended
 Mar.29 Mar. 31 Mar. 29 Mar. 31
 1992 1991 1992 1991
 OPERATING REVENUE
 Newspapers
 Advertising
 Retail $ 165,906 $ 173,269 $ 751,653 $ 788,707
 General 44,386 43,367 173,977 182,809
 Classified 123,731 123,777 497,641 554,139
 Total 334,023 340,413 1,423,271 1,525,655
 Circulation 115,235 106,607 447,657 412,279
 Other 9,740 8,906 35,961 32,970
 Total Newspapers 458,998 455,926 1,906,889 1,970,904
 Business Information
 Services 96,440 89,515 361,287 339,548
 Total Operating
 Revenue 555,438 545,441 2,268,176 2,310,452
 OPERATING COSTS
 Labor and employee
 benefits 239,344 233,556 948,138 934,098
 Newsprint, ink and
 supplements 81,667 96,376 365,105 401,373
 Other operating
 costs 151,205 144,201 575,152 568,058
 Depreciation and
 amortization 32,862 31,788 125,668 124,395
 Total Operating
 Costs 505,078 505,921 2,014,063 2,027,924
 OPERATING INCOME 50,360 39,520 254,113 282,528
 OTHER INCOME (EXPENSE)
 Interest expense (14,153) (19,253) (63,743) (73,701)
 Interest expense
 capitalized 6,677 4,972 23,847 13,815
 Interest income 1,425 1,846 6,012 7,479
 Other, net (1,441) (1,353) 7,277 (1,164)
 Total (7,492) (13,788) (26,607) (53,571)
 Income before
 income taxes 42,868 25,732 227,506 228,957
 Income taxes 17,862 9,902 86,262 89,931
 NET INCOME $ 25,006 $ 15,830 $ 141,244 $ 139,026
 NET INCOME PER COMMON
 AND COMMON EQUIVALENT
 SHARE $ 0.46 $ 0.32 $ 2.67 $ 2.77
 DIVIDENDS DECLARED
 PER COMMON SHARE $ 0.35 $ 0.35 $ 1.40 $ 1.36
 AVERAGE COMMON AND COMMON
 EQUIVALENT SHARES
 OUTSTANDING (000s) 54,646 50,173 62,915 50,279
 KNIGHT-RIDDER, INC. AND SUBSIDIARIES
 BUSINESS SEGMENT INFORMATION
 (In thousands of dollars)
 Quarter Ended Four Quarters Ended
 Mar. 29 Mar. 31 Mar. 29 Mar. 31
 1992 1991 1992 1991
 OPERATING REVENUE
 Newspapers $ 458,998 $ 455,926 $1,906,889 $1,970,904
 Business Information
 Services 96,440 89,515 361,287 339,548
 $ 555,438 $ 545,441 $2,268,176 $2,310,452
 OPERATING INCOME
 Newspapers $ 54,410 $ 45,362 $ 268,632 $ 305,441
 Business Information
 Services 4,624 3,796 21,027 16,483
 Corporate (8,674) (9,638) (35,546) (39,396)
 $ 50,360 $ 39,520 $ 254,113 $ 282,528
 DEPRECIATION AND
 AMORITIZATION
 Newspapers $ 22,642 $ 21,455 $ 86,646 $ 85,806
 Business Information
 Services 9,784 9,744 37,413 35,816
 Corporate 436 589 1,609 2,773
 $ 32,862 $ 31,788 $ 125,668 $ 124,395
 -0- 4/21/92
 /CONTACT: Frank N. Hawkins Jr., 305-376-3838, or Lee Ann Schlatter, 305-376-3839, both of Knight-Ridder, Inc./
 (KRI) CO: Knight-Ridder, Inc. ST: Florida IN: PUB SU: ERN


JJ-JB-AW -- FL003 -- 0418 04/21/92 09:16 EDT
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