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http://www.marketwatch.com/news/story.asp?guid=%7BC59B07FF%2D428B%2D44AC%2DBCC7%2DA366109DA7AB%7D&siteid=mktw

N.Y. Times warns of profit plunge
By David B. Wilkerson, MarketWatch
Last Update: 5:45 PM ET Dec. 21, 2005

CHICAGO (MarketWatch) - New York Times Co. said after the market closed Wednesday that its fourth-quarter profit would plunge 39% from that of a year earlier on charges related to job cuts announced in September, as well as stock-based compensation expense.

New York Times says it expects earnings per share in the range of 45 to 47 cents a share, compared to 75 cents a share in the same quarter last year.

The estimate includes charge in the range of $34 million to $37 million, or 14-15 cents a share, related to a round of 500 job cuts announced three months ago. Also in the fourth quarter, New York Times anticipates a writedown of $16 million to $17 million, or 7 cents a share, related to stock-based compensation expense.

The company also expects to record a charge on the job cuts in the first quarter of next year.

New York Times, which also announced layoffs earlier in 2005, is just one of several newspaper publishers, including Tribune Co., to announce job cuts in reaction to an uneven advertising environment and declining circulation.

New York Times shares declined 27 cents to close at $26.98 on Wednesday