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New York Times Lowers Guidance
AP ^ | Dec 2, 2004 | Anon

Posted on 12/02/2004 7:47:20 AM PST by Pharmboy

NEW YORK (AP) - The New York Times Co. told investors Thursday that its fourth quarter and full-year earnings would come in below Wall Street estimates on weaker-than-expected advertising in the fourth quarter and higher costs for promotion, printing, distribution and newsprint. The company also said it would begin expensing the cost of stock options and its employee stock purchase plan. It also said that it would no longer provide estimates for full-year earnings, focusing instead on quarterly estimates, due to the greater uncertainty in the current environment for media companies.

The company, which also publishes The Boston Globe and The International Herald Tribune, said it now expects to report fourth-quarter earnings of between 69 and 73 cents per share, compared with 73 cents in the comparable period a year ago. Analysts surveyed by Thomson First Call had expected earnings of 75 cents per share.

The Times' shares were off 68 cents at $40.38 in morning trading on the New York Stock Exchange.

For the full year, the Times now expects to earn $1.90 to $1.93 per share, versus Thomson First Call estimates of $1.96 per share. Both the quarterly and full-year estimates exclude a one-time gain from the sale of the company's headquarters building of approximately 50 to 55 cents per share, of which 40 to 45 cents per share is likely to be recognized in the fourth quarter.

In 2005, the company will begin expensing its stock options, a move that has been advocated by Federal Reserve Chairman Alan Greenspan and Securities and Exchange Commission Chairman William Donaldson. The Times said it expects to record pretax expenses for stock-based compensation of $24 million to $33 million in 2005, or 12 to 16 cents per share.

Chief financial officer Leonard Forman said while advertising revenues had shown "modest" improvement in the fourth quarter compared with the same period a year ago, "they have not been as strong as we had anticipated."

"We believe that 2005 will be another challenging year," Forman said.


TOPICS: Culture/Society; Extended News; News/Current Events; US: New York
KEYWORDS: 2004electionbias; boycott; boycottmutalfund; boycottnewyorktimes; buggywhipmedia; dinosaurmedia; dinosaurs; dnctalkingpoints; hoaxphotos; jasonblair; lamestreammedia; liberalmedia; lyingliars; mainstreammedia; mediabias; msm; newyorktimes; nty; oldmedia; sinkingship; thebostonglobe; theoldgreylady; thetimes; tisapityshesawhore; waronerror; zogbyism
Boo frickity hoo.
1 posted on 12/02/2004 7:47:21 AM PST by Pharmboy
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To: Pharmboy

So sad.


2 posted on 12/02/2004 7:48:19 AM PST by Rodney King (No, we can't all just get along)
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To: Pharmboy
Boo frickity hoo.

Oh where is my worlds smallest violin when I need it!

3 posted on 12/02/2004 7:49:49 AM PST by pikachu (The REAL script)
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To: Pharmboy

Interesting.


4 posted on 12/02/2004 7:50:00 AM PST by johniegrad
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To: Pharmboy
Someone needs to print out the graphic for schadenfreude.
5 posted on 12/02/2004 7:51:23 AM PST by RayChuang88
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To: pikachu
Oh where is my worlds smallest violin when I need it!

Is this what you're looking for?

6 posted on 12/02/2004 7:53:18 AM PST by RayChuang88
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To: RayChuang88

7 posted on 12/02/2004 7:53:29 AM PST by Pharmboy (Listen...you can still hear the old media sobbing.)
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To: Pharmboy

Loose creditability, loose everything. And blame it on the Internet for much of the truth was told.


8 posted on 12/02/2004 7:54:28 AM PST by Logical me (Oh, well!!!)
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To: Pharmboy

Translation:

> ... weaker-than-expected advertising in the fourth
> quarter ...

The advertisers finally figured out that the circ figures
were inflated and that subscriptions are in trouble.

> The company also said it would begin expensing the
> cost of stock options and its employee stock purchase
> plan.

When the stock is in free-fall, the options are worthless,
and if the employees are still routinely buying stock,
they're dumber than the readers.

> It also said that it would no longer provide estimates
> for full-year earnings, ...

When you might not last another year, this makes sense.

> "We believe that 2005 will be another challenging year,"

We bet the business on a Kerry win, and lost.
2005 will not be just "another" challenging year.


9 posted on 12/02/2004 7:56:18 AM PST by Boundless
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To: Pharmboy
The major dailies can't seem to get through their modernist skulls that credibility has a lot to do with profitability. They are only putting themselves out of work.
10 posted on 12/02/2004 8:01:53 AM PST by oyez (¡Qué viva la revolución de Reagan!)
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To: Pharmboy

I (and countless others) are the reason for this. Literate, opinionated, well-read New Yorkers who grew up with the Times and now HAVE GIVEN UP AND REFUSE TO BUY SUCH BLATANT, LYING BULLSH*T. WAKE UP, CLEAN YOUR HOUSE AND RETURN TO THE GREAT INSTITUTION YOU ONCE WERE.

The business plan couldn't be simpler. Will they do it?


11 posted on 12/02/2004 8:07:20 AM PST by Jhensy
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To: Pharmboy

The market for left-wing propaganda is not as lucrative as the market for honest, objective journalism.


12 posted on 12/02/2004 8:14:03 AM PST by spodefly (I've posted nothing but BTTT over 1000 times!!!)
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To: Pharmboy
Printing Biased left wing propaganda posing as news is becoming very expensive in America. The board members of any company advertising in the NY Slimes might want to prepare themselves for future lawsuits from current and past stockholders.


13 posted on 12/02/2004 8:38:34 AM PST by Grampa Dave (Writers of hate GW/Christians/ Republicans Articles = GIM=GAY INFECTED MEDIOTS!)
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To: Pharmboy

14 posted on 12/02/2004 8:39:15 AM PST by petercooper (Remember, most liberal "intellectuals" are simply educated beyond their intelligence.)
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To: Pharmboy; weegee; Liz; SierraWasp; Southack; Ernest_at_the_Beach
The board members of the companies which own and control the MSM this past year should be removed for incompetence for allowing their companies to participate in biased political lies. Those biased lies have cost their companies viewers, readers and subscribers.

"Requiescat in fracta!"


15 posted on 12/02/2004 8:43:16 AM PST by Grampa Dave (Writers of hate GW/Christians/ Republicans Articles = GIM=GAY INFECTED MEDIOTS!)
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To: Grampa Dave
Good Riddance:

__________________________________________ _____________________________

Unholy Alliance

by David Horowitz
Hardcover - (September 2004) - $27.95

In this tour de force on the most important issue of our time, David Horowitz, confronts the paradox of how so many Americans, including the leadership of the Democratic Party, could turn against the War on Terror. He finds an answer in a political Left that shares a view of America as the “Great Satan” with America’s radical Islamic enemies.

16 posted on 12/02/2004 9:00:25 AM PST by Ernest_at_the_Beach (A Proud member of Free Republic ~~The New Face of the Fourth Estate since 1996.)
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To: All; rightinthemiddle; Carry_Okie
Useful thread for all to refresh our memories:

Need Help Finding Information re: Communisim

17 posted on 12/02/2004 9:02:14 AM PST by Ernest_at_the_Beach (A Proud member of Free Republic ~~The New Face of the Fourth Estate since 1996.)
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To: Pharmboy; SierraWasp; Liz; Southack; weegee; Ernest_at_the_Beach

On a very serious note. How many Freepers own a mutual fund that is heavily invested in the NY Slimes?

If you do, you might want to find another mutual fund where the managers are not interested in shoring up the NY Slimes at your expense.

http://moneycentral.msn.com/investor/invsub/ownership/ownership.asp?Symbol=nyt

Nordea 1 North American Value Fund 4,423,100 1,792,400 68.1 79,690,104 3.0 2.6 06-30-04

T Rowe Price Equity Income Fund, Inc 4,250,000 1,050,000 32.8 47,071,500 2.9 0.0 06-30-04

Massachusetts Investors Trust 1,620,756 -162,800 -9.1 -7,298,325 1.1 1.0 06-30-04

Vanguard 500 Index Fund 1,381,819 35,807 2.7 1,591,979 0.9 0.1 06-30-04

Aim Premier Equity Fund 1,200,000 1,200,000 0.0 53,796,004 0.8 0.0 06-30-04

Van Kampen Global Franchise Fund 1,187,209 345,109 41.0 15,471,237 0.8 4.4 06-30-04

Aim Charter Fund 952,900 0 0.0 0 0.6 1.3 07-31-04

Aim Mid Cap Equity Fund 945,400 265,800 39.1 11,915,814 0.6 0.0 06-30-04

American Century Vp Value Fund 828,333 828,333 0.0 37,134,168 0.6 0.0 06-30-04

Morgan Stanley Sicav - Global Brands Fund 751,954 293,776 64.1 13,169,979 0.5 4.9 06-30-04

Cref Stock Account 730,277 -16,648 -2.2 -746,330 0.5 0.0 06-30-04

Focused Value Portfolio 662,200 114,600 20.9 4,807,470 0.5 0.0 07-31-04

Value Fund 643,767 643,767 0.0 28,486,690 0.4 0.0 03-31-04

Mfs Total Return Fund 638,380 48,980 8.3 2,167,365 0.4 0.5 03-31-04

Vanguard Institutional Index Fund 601,380 49,974 9.1 2,240,335 0.4 0.1 06-30-04


*Category Headings:
Shs Held - shares held at report date
Shs Chg - position change within reporting period
%Chg - % change
$Chg - market value of the position change
%Out - % of shares outstanding
%Port - % Portfolio
Rpt Date - report date




18 posted on 12/02/2004 9:11:22 AM PST by Grampa Dave (Writers of hate GW/Christians/ Republicans Articles = GIM=GAY INFECTED MEDIOTS!)
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To: Grampa Dave

Nice headstone to mark the MSM's demise.

BTW, they were all cremated by viewers.


19 posted on 12/02/2004 10:18:18 AM PST by Liz
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To: Grampa Dave
Chief financial officer Leonard Forman said while advertising revenues had shown "modest" improvement in the fourth quarter compared with the same period a year ago, "they have not been as strong as we had anticipated." "We believe that 2005 will be another challenging year," Forman said.

Golly, I am hoping and praying (/sarc) that the NYT is not engaging in Enron-style accounting practices in order to cook the books, just to look good for Wall Street.

20 posted on 12/02/2004 10:21:31 AM PST by Liz
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To: Grampa Dave; Stillwaters; Pride in the USA
I like it!


21 posted on 12/02/2004 10:23:44 AM PST by lonevoice (Vast Right Wing Pajama Party)
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To: Grampa Dave
What the difference between The New York Times, Pravda, and The Weekly World News?

Mutual Funds don't contain shares of Pravda or The WWW.

22 posted on 12/02/2004 10:49:33 AM PST by weegee (WE FOUGHT ZOGBYISM November 2, 2004 - 60 Million Voters versus 60 Minutes - BUSH WINS!!!)
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To: Grampa Dave

But but but any Democrat will tell you that the mainstream media is conservative because they are a large corporation and out to protect their interests. They must consider Moveon.org to be conservative now since they raked in $30million this election cycle.


23 posted on 12/02/2004 10:53:39 AM PST by weegee (WE FOUGHT ZOGBYISM November 2, 2004 - 60 Million Voters versus 60 Minutes - BUSH WINS!!!)
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To: Liz

Well newspapers have recently been caught cooking the books on their circulation figures to warrant higher advertising rates. Wouldn't surprise me that they lie to Wall Street too.


24 posted on 12/02/2004 10:54:54 AM PST by weegee (WE FOUGHT ZOGBYISM November 2, 2004 - 60 Million Voters versus 60 Minutes - BUSH WINS!!!)
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To: weegee

Who knows, maybe some left wing controlled mutual fund might own Pravda stock, if there is any.


25 posted on 12/02/2004 11:02:25 AM PST by Grampa Dave (Writers of hate GW/Christians/ Republicans Articles = GIM=GAY INFECTED MEDIOTS!)
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To: weegee

"Well newspapers have recently been caught cooking the books on their circulation figures to warrant higher advertising rates. Wouldn't surprise me that they lie to Wall Street too."

Actually that is lying to Wall Street. It is interesting that the lunatic left wing AG of NY is not investigating the NY Slimes on this criminal activity.


26 posted on 12/02/2004 11:03:47 AM PST by Grampa Dave (Writers of hate GW/Christians/ Republicans Articles = GIM=GAY INFECTED MEDIOTS!)
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To: lonevoice

Maybe we will be able to erect these Tombstones all over America before the 2008 election.


27 posted on 12/02/2004 11:04:32 AM PST by Grampa Dave (Writers of hate GW/Christians/ Republicans Articles = GIM=GAY INFECTED MEDIOTS!)
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To: Grampa Dave
Actually investigations HAVE begun into some of the different newspapers' fraud (I seem to recall articles about the LA Times and know that the Houston Comical has been caught at it).

Don't expect the mainstream media to cover this scandal the way they covered Enron.

28 posted on 12/02/2004 12:37:59 PM PST by weegee (WE FOUGHT ZOGBYISM November 2, 2004 - 60 Million Voters versus 60 Minutes - BUSH WINS!!!)
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To: weegee

The Chicago Tribune which owns the LA Slimes is up to its neck re inflated subscribers and news stand stories.

One of the NYC newspapers was found guilty of this and had to make refunds to it advertisers. The advertisers paid rates based on the lies about circulation.

The NY Slimes is being investigated on this now.

I have a neighbor who makes me look moderate and he has been getting the NY Slimes dropped off in his driveway for years. One day I challenged him about it. His youngest is a soph in the local college, and he has had at least one of three children in college for a decade. They have been required to subscribe to the NY Slimes at a highly discounted rate as a requirement for some of their classes.

This fellow believes that if the college student subscribers are ever audited properly, the NY Slimes will be in real trouble. He says that this a normal practice in liberal colleges/universities across the nation to require a subscription to the NY Slimes for certain classes.


29 posted on 12/02/2004 1:03:56 PM PST by Grampa Dave (Writers of hate GW/Christians/ Republicans Articles = GIM=GAY INFECTED MEDIOTS!)
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