UPI reported its first operating profit since 1963.
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United Press International posted a fourth-quarter operating profit of $1.1 million last year. The announcement by Luis G. Nogales, president and chief executive of the financially troubled news service, attributed the turnaround to strict cost-cutting measures, including a temporary 25% wage cut for company employees and elimination of 200 jobs. UPI lost $6.5 million in the fourth quarter of 1983.
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