Newspaper publisher

Knight Ridder


said it was comfortable with Wall Street's second-quarter estimates, as the company's operating revenue and advertising revenue for April were both down 3%.

Knight Ridder said retail advertising revenue fell by about 0.5%, general advertising revenue fell by 5.4%, and classified revenue fell by 5.2%.

In a press release, Knight Ridder claimed April was "on track" with expectations, and the company is comfortable with Wall Street's consensus second-quarter earnings estimate of 87 cents a share.

The company noted that daily circulation revenue was up 1% and Sunday circulation was up 0.4%. "We are pleased to see circulation numbers increasing from the prior year, and we are on target to achieve circulation growth throughout the company in 2002."

Shares of Knight Ridder closed Monday at $66.73.