New York Times Warns of Lower Earnings

AP | 9/17/03

[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.

[eddie willers]

Maybe they should hire Jason Blair as an accountant.

[Timesink]

Schadenfreude

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

[surely_you_jest]

** snicker **

[Tribune7]

ping

[martin_fierro]

[geedee]

Life is good.

[ReleaseTheHounds]

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!

[Pharmboy]

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.

[Temple Owl]

Just think. It used to be the paper of record. (heh heh). Oh joy!

[Ciexyz]

Tee hee.

[Hoverbug]

probably the ozone hole caused by global warming.

:-^)

Hb

[Temple Owl]

Har Har Har!

[SandRat]

and we are supposed to shed a tear for the NYT because?????

[IronJack]

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."

[mcenedo]

compare nyt to fox for additional enjoyment (2 year graph).

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

[GOPJ]

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.

[Waco]

Boo Hoo,,,,,,,Booooo Hic

[Grampa Dave]

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.

[PhilipFreneau]

The Times (symbol NYT) appears to be a good stock to sell short. Let's drive the price down.