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UPI Posts First Profit Since '63

January 23, 1985|United Press International

WASHINGTON — United Press International today released preliminary financial results for the fourth quarter of 1984 showing a profit of $1.1 million, a milestone for the news agency, which has posted deficits since 1963.

UPI President Luis G. Nogales called the result "a dramatic and tangible step forward for UPI, demonstrating this company's ability to operate within its own means." He credited efforts of UPI employees, who last fall accepted temporary wage reductions, staff cutbacks and cost-containment measures.

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