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]

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

The Dinosaur Fish Wraps have so many potentially deadly winds of change howling on them, they really have little chance of survival.

[SierraWasp]

Well, why should the ultimate in Anti-American and Anti-Capitalistic institutions be rewarded with ANY capital?

Sell the stupid stock!!! SELL, I tell ya... SELL!!!

They don't even value their own capitalization.

[Grampa Dave]

"Well, why should the ultimate in Anti-American and Anti-Capitalistic institutions be rewarded with ANY capital?"

Any so called conservative, who invests in this anti American/Capitalistic dog deserves the losses they have taken and will take.

[RoseofTexas]

NOT TO FRET! The end is almost NEAR! :)

[george76]

[Grampa Dave]

Thanks, Rose. It is hard to imagine these MSM traitors even being associated with any type of news in ten years.

[george76]

[devolve]

[potlatch]

Impressive post!!

[Liz]

Maybe we should call you "Karnak?"

[AFPhys]

NYSlimes == the definition of FRAUDcasters

[AFPhys]

I'm waiting for the MAJOR LAYOFF announcements ...

[samadams2000]

Thats a lot of old hippies having to hit the streets! Imagine being inside an America hating, liberal, big government, raise taxes, pray to multiculturalism bubble your whole life and then having to feel the cold wind of the real world??? Gonna be brutal for these people, I almost feel..er....nevermind! BRING IT ON!

[BIGLOOK]

Does the NYT have a Board of Directors any more? Or have they all jumped ship......

[ntnychik]

Last week I was on the PSU campus and saw vending machines with the New York Times available for free for students, sponsored by some group wanting to promote newspaper reading. The machines were full. You can't even give it away.

[Grampa Dave]

"Maybe we should call you "Karnak?"

Maybe that is a picture of me with the crystal ball?!

[Grampa Dave]

NySlimes is the role model of a corporation whose culture from top to bottom is based on lying its subscribers and advertisers.

[Grampa Dave]

" Thats a lot of old hippies having to hit the streets! Imagine being inside an America hating, liberal, big government, raise taxes, pray to multiculturalism bubble your whole life and then having to feel the cold wind of the real world??? Gonna be brutal for these people, I almost feel..er....nevermind! BRING IT ON! "

AT ITS BEST!

[RobRoy]

You forgot the "Dinosaur Media alert".

[Grampa Dave]

"Does the NYT have a Board of Directors any more? Or have they all jumped ship......"

They are all in the NY Slimes executive hot tub on that ship doing their drugs and other self destructive behaviors and blaming GW for their problems.