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The New York Times Co. Provides Fourth-Quarter Earnings Guidance (EARLY CHRISTMAS PRESENT!!)
Yahoo Finance ^ | Dec 21, 2005 | Business Wire

Posted on 12/21/2005 2:10:52 PM PST by abb

NEW YORK--(BUSINESS WIRE)--Dec. 21, 2005--The New York Times Company announced today that fourth-quarter diluted earnings per share are expected to be in the range of 45 to 47 cents, compared with 75 cents in the same quarter last year.

The range includes estimated expenses for the Company's staff reduction program announced in September of $34 to $37 million or 14 to 15 cents per share. The Company also plans to take a charge associated with this program in the first quarter of 2006, at which time the program is expected to be substantially complete.

In addition, in the fourth quarter the Company plans to record approximately $16 to $17 million, or 7 cents per share, of stock-based compensation expense. For the year, stock-based compensation expense is expected to be $31 to $33 million. Previously, the Company had estimated expense of $28 to $32 million.

In the fourth quarter of 2004, the Company recorded a $5.8 million (2 cents per share) charge for the restructuring of its NYT-TV production facility.

The Company only presents EPS guidance on a GAAP basis. This differs from the pro forma EPS provided by databases such as First Call and Reuters.

The Company has updated its effective tax rate for 2005 from 41 percent to 40.4 percent because of the elimination of a state tax contingency. With the exceptions of stock-based compensation expense and the tax rate, there are no other changes to the Company's full-year guidance for 2005 or its outlook for 2006, which were announced on December 6, 2005.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. These risks and uncertainties include national and local conditions, as well as competition, that could influence the levels (rate and volume) of retail, national and classified advertising and circulation generated by our various markets, material increases in newsprint prices and the timing and amount of savings realized as a result of our cost-control initiatives. They also include other risks detailed from time to time in the Company's publicly filed documents, including the Company's Annual Report on Form 10-K for the year ended December 26, 2004. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

The New York Times Company (NYSE: NYT - News), a leading media company with 2004 revenues of $3.3 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 15 other daily newspapers, nine network-affiliated television stations, two New York City radio stations and 35 Web sites, including NYTimes.com, Boston.com and About.com. For the fifth consecutive year, the Company was ranked No. 1 in the publishing industry in Fortune's 2005 list of America's Most Admired Companies. The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.

This press release can be downloaded from www.nytco.com


TOPICS: Business/Economy; News/Current Events; US: New York
KEYWORDS: liberalmedia; msm; newspapers; newyorktimes; nyt; oldmedia
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$.45 per share vs. $.75 per share quarter-on-quarter!!!

OMG, I do love it so!!!

1 posted on 12/21/2005 2:10:54 PM PST by abb
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To: abb

Agreed.


2 posted on 12/21/2005 2:12:05 PM PST by MplsSteve
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To: abb

Poorhouse, here we come!!!;)


3 posted on 12/21/2005 2:12:41 PM PST by Frank_2001
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To: abb
<+4>HA, HA, HA
4 posted on 12/21/2005 2:13:57 PM PST by Volunteer (Just so you know, I am ashamed the Dixie Chicks make records in Nashville.)
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To: abb

grining from ear-to-ear! Merry Christmas NYT!


5 posted on 12/21/2005 2:14:37 PM PST by Arizona Carolyn
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To: Frank_2001

Yes Virginia there is a Santa Claus.


6 posted on 12/21/2005 2:14:47 PM PST by magua
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To: abb

Short sell the NY Times and bankrupt a Lefty.


7 posted on 12/21/2005 2:14:49 PM PST by Pittsburg Phil
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To: abb; Liz


8 posted on 12/21/2005 2:16:47 PM PST by Petronski (I love Cyborg!)
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To: abb

NYTimes = pwned


9 posted on 12/21/2005 2:17:47 PM PST by BreitbartSentMe (Ex-Democrat since 2001)
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That's a schaudenfraude grin on my face.
10 posted on 12/21/2005 2:18:16 PM PST by Cyber Ninja (Wee Fish Ewe a Mare Egrets Moose. Panda Hippo Gnu Deer.)
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To: abb

It costs them money to reduce their staff?


11 posted on 12/21/2005 2:18:38 PM PST by avg_freeper (Gunga galunga. Gunga, gunga galunga)
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To: abb

The National Forests and spotted owls breath sighs of relief.


12 posted on 12/21/2005 2:19:30 PM PST by Muleteam1 (Allow despicable issues to die without discussion.)
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To: abb; Liz; martin_fierro; ForGod'sSake

13 posted on 12/21/2005 2:20:52 PM PST by Grampa Dave (Link to Great TV ad re rat traitors and their words re Iraq: http://www.gop.com/Media/120905.wmv)
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To: abb
Maybe the President of Venezuela will give then a reduced rate on heating oil. He could also buy their debt like he did with Argentina.
14 posted on 12/21/2005 2:23:30 PM PST by wmileo
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To: abb; ForGod'sSake; Liz; martin_fierro; Ernest_at_the_Beach; PhilDragoo
Great news, this is happening when all the Thanksgiving to Christmas Ad $'s should be rolling in. This will make the vulure watch on the NY Slimes perk up!


15 posted on 12/21/2005 2:23:51 PM PST by Grampa Dave (Link to Great TV ad re rat traitors and their words re Iraq: http://www.gop.com/Media/120905.wmv)
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To: avg_freeper

[It costs them money to reduce their staff?]


That's their stock price going down, and the reason it's going down is the same reason they're reducing their staff.

It's because they have fewer and fewer customers every year and therefore less advertising revenue and less profit.


16 posted on 12/21/2005 2:25:15 PM PST by spinestein (All journalists today are paid advocates for someone's agenda.)
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To: Grampa Dave

Love the chart!!!


17 posted on 12/21/2005 2:27:21 PM PST by rod1
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To: abb

HA ha...
18 posted on 12/21/2005 2:28:06 PM PST by Chode (American Hedonist )
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To: spinestein

It's just amazing how that stuff works, ain't it? Antagonize all your readers and reduce your circulation. Then the advertisers all leave! The cheek of them!


19 posted on 12/21/2005 2:28:59 PM PST by abb (Because News Reporting is too important to be left to the Journalists.)
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To: All

In the after hours, today, the NYT aka NY Slimes stock is dropping like a turkey with bird flu:

N Y TIMES CL A (NYSE:NYT) Delayed quote data

After Hours (RT-ECN): 26.07 -0.91 (-3.37%)

Today was a good day for most indexes.

Merry Christmas to all of the lying maggot deviates at the Slimes. Your jobs will probably be outsourced to Slovenia or worse in 2006.


20 posted on 12/21/2005 2:29:34 PM PST by Grampa Dave (Link to Great TV ad re rat traitors and their words re Iraq: http://www.gop.com/Media/120905.wmv)
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