New York Times forecasts lower 3rd-qtr earnings (down about 5% in afterhours market)

Yahoo. reuters.com ^ | September 21, 2006 | Staff

[Grampa Dave]

Reuters New York Times forecasts lower 3rd-qtr earnings Thursday September 21, 5:01 pm ET

NEW YORK (Reuters) - The New York Times Co. (NYSE:NYT - News) said on Thursday it forecast lower third-quarter earnings than during the same quarter last year because of a "challenging" print advertising market, sending shares down nearly 5 percent in after-hours trading. The publisher of The New York Times newspaper and the Boston Globe forecast earnings of 8 cents to 10 cents per share, compared with 16 cents in the same quarter last year.

The forecast includes an estimated charge of 1 cent to 2 cents per share for staff reduction costs.

It also includes and an estimated charge of 2 cents to 3 cents for the loss on the company's sale of its investment in the Discovery Times Channel, which it said it would sell for $100 million.

"The print advertising market has been very challenging during July and August and remains so in September," Chief Executive Janet Robinson said in a statement.

The company's shares fell to $21.73 in after-hours electronic trading after closing at $22.83 on the New York Stock Exchange.

[Grampa Dave]

In the regular market hours, the NY Slimes, NYT, avoided a loss which is a rarity.

However, after they announced this reality, their market value has lost over 4% in after hours trading.

[TChris]

[mainepatsfan]

[samadams2000]

The only industry that lies to and insults its customer base daily.

Reep what you sow you traitorous liberal scumbags.

[Grampa Dave]

I stole, er, borrowed this from Dead yesterday afternoon. Little did I realize how true this would be today.

[samadams2000]

"Challenging print adverstising"...do they believe that??? The fact that half their circulation ends up in the dumpster has nothing to do with this??? Wait til they uncover the true circulation numbers and that whole paper will circle the bowl like the turd that it is.

[Grampa Dave]

The owners, publisher, editors and elite homosexuals with the NY Slimes are traitors who hate America.

Now, they are reaping what they have planted for the past decades and in particuliar this last one.

[Enterprise]

Ooooooooh, that's gotta hurt.

[BluH2o]

Pinch Sulzberger can now relate to how the Captain of the Titanic felt when his ship lurched from the impact of hitting an iceberg in the frigid waters of the mid-Atlantic.

[Leftism is Mentally Deranged]

Poor things. If they would report events fairly even I would be a subscriber.

[Grampa Dave]

Yes indeed!

[potlatch]

[Grampa Dave]

Reality is such a B$tch for the lunatic lefties of the world. It is a doubled edge B$tch for these elite lunatics who perfected a corporate culture of lying.

[CR]

This is just the latest. Their 2 year stock chart looks like a ski slope.

[Grampa Dave]

Pinch must have Aids impacting his brain. He seems to be oblivious of what is happening in the real world, not his executive hot tub at the NY Slimes Penthouse offices.

[Grampa Dave]

Perfect!

Thanks!

[Grampa Dave]

This is just the latest. Their 2 year stock chart looks like a ski slope.

The above chart is their two year chart versus the S&P 500. When the new year starts in 2007, the drop off will look like a black diamond ski slope in the Alps.

[Grampa Dave]

You are on target with both sentences here:

The only industry that lies to and insults its customer base daily.

Reep what you sow you traitorous liberal scumbags.

[Grampa Dave]

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

After Hours: 21.73 1.10 (4.82%)

It must be something else to lose close to 5% after closing time on the market.

[Enterprise]

The New York Times - the premier print buggy whip of the 21st Century.