This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The New York Times Company Reports 2012 Second-Quarter Results

The New York Times Company (NYSE: NYT) announced today a 2012 second-quarter diluted loss per share from continuing operations of $.57 compared with diluted earnings per share from continuing operations of $.05 in the same period of 2011. The loss resulted from an estimated non-cash charge of $.85 per share for the write-down of goodwill at the About Group. Excluding severance, the write-down and other special items discussed below, diluted earnings per share from continuing operations were $.14 in the second quarter of 2012 compared with $.11 in the second quarter of 2011.

The Company had an operating loss of $143.6 million in the second quarter of 2012 compared with an operating profit of $31.5 million in the same period of 2011. Excluding depreciation, amortization, severance and special items, operating profit increased 6.5 percent to $78.1 million from $73.4 million in the second quarter of 2011.

“Our second-quarter results reflect our ongoing strides in repositioning the Times Company for an increasingly multiplatform future,” said Arthur Sulzberger, Jr., chairman and chief executive officer, The New York Times Company. “The growth in operating profit, excluding depreciation, amortization, severance and special items, was largely driven by continued strength in circulation revenues, which offset advertising revenue declines and led to overall revenue growth of about 1 percent. Total Company circulation revenues rose 8 percent, led by the nearly 11 percent growth at The New York Times Media Group as we continued to expand our digital subscription base and grow our robust consumer revenue stream.

“At quarter end, total paid digital subscriptions across the Company were approximately 532,000, up 13 percent from 472,000 as of March 18, 2012, which was the one-year anniversary of NYTimes.com’s digital subscription launch. The growth in paid digital subscriptions benefited from our decision to move the gate on NYTimes.com from 20 to 10 free articles a month, and from a host of marketing and product initiatives that we have been rolling out this year.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs