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New York Times Warns of Lower Earnings
AP | 9/17/03

Posted on 09/17/2003 6:05:40 PM PDT by kattracks

NEW YORK, Sep 17, 2003 (AP Online via COMTEX) -- The New York Times Co. reported lower advertising revenues for August and said Wednesday that its third-quarter earnings would be well below Wall Street expectations.

The Times said it expected to earn between 30 and 32 cents per share in the third quarter, compared with 38 cents in the same period last year. Analysts surveyed by Thomson First Call had been expecting the company to earn 39 cents per share.

Advertising revenues in the company's newspaper group fell 1.4 percent in August compared with the same month last year. "The weak ad environment we saw in July continued throughout August," chief financial officer Leonard P. Forman said in a statement.

Forman said advertising trends were improving in September. He said revenues in the paper's fall arts preview was up 28 percent over last year's issue.

Given the company's year-to-date performance, Forman said the Times' full-year earnings per share could be slightly below last year's $1.97. Analysts had been expecting the company to earn $2.03 this year.

The Times' shares were off $1.65 to close at $42.87 on the New York Stock Exchange.



TOPICS: Business/Economy; Extended News; News/Current Events
KEYWORDS: billkeller; falsification; howellraines; jaysonblair; mediafraud; medialies; newyorktimes; nyt; nytschadenfreude; plagiarism; schadenfreude; thenewyorktimes

1 posted on 09/17/2003 6:05:40 PM PDT by kattracks
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To: kattracks
Maybe they should hire Jason Blair as an accountant.
2 posted on 09/17/2003 6:08:07 PM PDT by eddie willers
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To: martin_fierro; reformed_democrat; Loyalist; =Intervention=; PianoMan; GOPJ; Miss Marple; Tamsey; ...

Schadenfreude

This is the New York Times Schadenfreude Ping List. Freepmail me to be added or dropped.


3 posted on 09/17/2003 6:16:25 PM PDT by Timesink
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To: kattracks
** snicker **
4 posted on 09/17/2003 6:18:11 PM PDT by surely_you_jest
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To: Temple Owl
ping
5 posted on 09/17/2003 6:18:22 PM PDT by Tribune7
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To: Timesink

6 posted on 09/17/2003 6:23:09 PM PDT by martin_fierro (Please direct all Quality Control complaints to tijeras_slim)
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To: kattracks
Life is good.
7 posted on 09/17/2003 6:28:17 PM PDT by geedee (America is a land where men govern, but women rule.)
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To: surely_you_jest
Couldn't happen to a more deserving bunch! I'm sure they'll blame the poor advertising on bad weather or some-such... Or they'll blame it on the Bush White House! Yeah, that's the ticket!
8 posted on 09/17/2003 6:35:40 PM PDT by ReleaseTheHounds
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To: kattracks
Their problem is that liberals are dying off faster than they can be replaced by 20 year olds.

The young 'uns are moving to the right quite decisively, including under thirty African Americans and Jewish voters. Pity.

9 posted on 09/17/2003 6:36:23 PM PDT by Pharmboy (Dems lie 'cause they have to...)
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To: kattracks
Just think. It used to be the paper of record. (heh heh). Oh joy!
10 posted on 09/17/2003 6:36:23 PM PDT by Temple Owl
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To: Temple Owl
Tee hee.
11 posted on 09/17/2003 6:37:54 PM PDT by Ciexyz
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To: ReleaseTheHounds
probably the ozone hole caused by global warming.

:-^)

Hb
12 posted on 09/17/2003 6:39:35 PM PDT by Hoverbug (whadda ya mean, "we don't get parachutes"!?!)
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To: Ciexyz
Har Har Har!
13 posted on 09/17/2003 7:24:05 PM PDT by Temple Owl
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To: kattracks
and we are supposed to shed a tear for the NYT because?????
14 posted on 09/17/2003 7:48:34 PM PDT by SandRat (Duty, Honor, Country. What else needs to be said?)
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To: kattracks
Management at the Times did hold out some hope, however, despite the generally gloomy forecast. "Our newsprint has been well received in the tissue industry, and is noted for its absorbency," said an anonymous spokesman for the syndicate. He said he expects sales of two-ply Times to increase up to 10 percent this quarter, "what with the Halloween season and all the tp'ing and all."
15 posted on 09/17/2003 7:58:00 PM PDT by IronJack
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To: martin_fierro
compare nyt to fox for additional enjoyment (2 year graph).

I'm too challenged to do the cut & paste (or whatever).

16 posted on 09/17/2003 8:25:15 PM PDT by mcenedo (lying liberal media - our most dangerous and powerful enemy)
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To: Pharmboy; All
Here another problem: Liberal elite's are a small group supported by a large mass of uneducated angry interest groups who's only commonality is an outstretched hand.

Name a liberal group other than the elite's (who's payoff is power) that doesn't get money from the government. (Government workers, social workers, attorneys, teachers unions, unions, welfare recipients, illegal immigrants, members of the homeless shelter industry and nonprofit industries etc...)

Their problem is that liberals are dying off faster than they can be replaced by 20 year olds.

17 posted on 09/17/2003 8:27:52 PM PDT by GOPJ
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To: kattracks
Boo Hoo,,,,,,,Booooo Hic
18 posted on 09/17/2003 9:08:36 PM PDT by Waco
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To: Pharmboy; GOPJ; martin_fierro; Timesink; Liz
The life styles of the perverts often result in an early death. Rats may continue to vote after they die. They don't buy liberal newspapers after they die.

The abortion driven Rats have been aborting their own for a couple decades at a very high rate.

The non aborted ones go to terrible inner city schools and not able to function in our world. Nor can they read a NY Slimes.

So their own tactics are catching up with them. Add up the decreasing population base to the reality that each day since the 2000 elections, the NY Slimes has been driving away conservative readers/subscribers with their attacks on President Bush.

Like CNN they have helped create their own demise. It is truly delightful to watch them collapse under their own actions.

The NY Slimes self inflicted Schadenfreude, is truly a wonderful thing to view and cheer.
19 posted on 09/18/2003 5:27:56 AM PDT by Grampa Dave (May our brave warriors kill all of the Islamokazis/facists/nazis to prevent future 9/11's.)
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To: kattracks
The Times (symbol NYT) appears to be a good stock to sell short. Let's drive the price down.
20 posted on 09/18/2003 5:45:34 AM PDT by PhilipFreneau
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To: Grampa Dave
So their own tactics are catching up with them.

Interesting insights...thanks.

21 posted on 09/18/2003 6:07:25 AM PDT by Pharmboy (Dems lie 'cause they have to...)
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To: Pharmboy; Grampa Dave
Their problem is that liberals are dying off faster than they can be replaced by 20 year olds.

They've also aborted a generation which is why the Dumbocrats are so intent on
letting in truckloads of immigrants and giving away $$ billions in tax-paid benefits.
They have to replace the ones they killed off as well as replacing the dying Dumbos.

The conniving Clintons even had it down to a campaign strategy. They opened the
floodgates figuring that letting in so many immigrants meant so many votes for them.

22 posted on 09/18/2003 6:33:29 AM PDT by Liz
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To: Grampa Dave
Man, you got all the good news today, Gramps. Everything you posted is sweet, scintilating music to my ears.

LOL......betcha the NYT curses the day they ever heard the word "diversity" (snicker).

Serves the rump-kissing Liberaloids right. They ignored truth at their peril in order to suckup to the political correctness atrocity.

As you sow, so shall you reap.....and the NYT is harvesting a peck of trouble.

Well, I gotta go, I'm gonna reread your post, Gramps.

23 posted on 09/18/2003 6:44:12 AM PDT by Liz
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To: Liz
CNN and the NY Slimes are in similiar death spirals.

CNN is farther along the death spiral. It is just starting to impact the NY Slimes this year.

They are both the poster boys and the tip of the iceberg re left wing run corporations. They thrived under Herr Clinton and his wookie, Jake Reno.

Now with the new marshall in charge, GW, their fortunes are reversing.

The beauty is that they refuse to see what is driving away viewers/subscribers and advertisers. That arrogance is what is destroying left wing run corporations across America. In 5 more years of GW as president, most of the lunatic lib run corporations will have destroyed themselves. It is great thing that is happening. Just look at the trail of ruins in less than 3 years of GW being president.
24 posted on 09/18/2003 6:53:58 AM PDT by Grampa Dave (May our brave warriors kill all of the Islamokazis/facists/nazis to prevent future 9/11's.)
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To: Grampa Dave
...arrogance is what is destroying left wing run corporations.....In 5 more years of GW as president, most of the lunatic lib-run corporations will have destroyed themselves...Just look at the trail of ruins in less than 3 years of GW being president.

If only GWB could use this as a campaign issue. However, candidates are still locked into the PC atrocity. He'll have to tiptoe around the issue.

25 posted on 09/18/2003 7:05:39 AM PDT by Liz
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To: Liz
He will stay away from discussing it.

He and John Ashcroft will just rachet up and indict more top corporate crooks as the evidence comes in.

However, we don't have to shy away from it. I refuse to buy any mutual fund that has more than one left wing lunatic corporation in its top ten holdings. If the fund is in a family of funds where we own other funds, I send the CEO of the fund family an email and tell him that I don't invest in lunatic lib corporations so his lefty fund gets none of our money. Also, if our current funds start buying left wing stocks, they will be sold. No response yet, but they know that some of us are watching them.
26 posted on 09/18/2003 7:16:55 AM PDT by Grampa Dave (May our brave warriors kill all of the Islamokazis/facists/nazis to prevent future 9/11's.)
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To: Grampa Dave
(GWB) and John Ashcroft will just rachet up and indict more top corporate crooks......

(Sigh) I just love it when the Pubbies take the gloves off. LOL.

27 posted on 09/18/2003 7:31:39 AM PDT by Liz
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To: kattracks
I just found this on the NYT Yahoo Message Board.

"Looking at NYT B/S you find that NYT has unrealized negative financial [book] value, i.e. financially bankrupt:
1. Lower quarterly cash balances, growing receivables (bad/deferred accounts?), growing ST debt and other liabilities.
2. Taking out accounting non-cash gimmick of about $1.1B in "Goodwill" ("good" for tax acounting only, but not otherwise a real "asset") you are left with "Total Assets" exceeding "Total Liabilities" by only about $150mln, i.e. approximately $1/share in BV, of which highly illiquid (and only estimated) "Total Property/Plant/Equipment" is another $1.2B ($8/share).

IF S&P/Moody's will downgrade NYT ratings, NYT will have to pay more to service debt and depress those earnings still more.

Corporate may understand that advertising in NYT doesn't get them much anymore as fewer and fewer people regard NYT as must-read paper or as a source for "news"."
28 posted on 09/18/2003 7:33:52 AM PDT by Crawdad (I cried because I had no shoes, until I met a man who had no class.)
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To: PhilipFreneau
IMHO you're right. Short liberal newspapers, camera stock that's not digital, and over-priced motorcycles stocks. It's all stuff that rings of long ago - a time past, and thankfully past...
29 posted on 09/18/2003 8:54:30 AM PDT by GOPJ
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