Q3 Revenues, Income Fall At NY Times Co.
October 20, 2006 at 6:17 AM (PT)
THE NEW YORK TIMES CO. saw third-quarter revenues off 2.4% to $739.6 million (ad revenues off 4.2%, circulation revenues off 1.3%), leading to a decline in operating profit from $39.4 million to $20.5 million and a drop in net income from $23.1 million to $14 million.
The results included a one-time after-tax loss of $4.3 million from the sale of the company's interest in the DISCOVERY TIMES channel and staff reduction costs of $74 million this year, as opposed to $12.4 million last year.
The company did not break out results from its radio properties, Classical WQXR/NEW YORK and RADIO DISNEY affiliate WQEW-A/NEW YORK (the latter LMA'd to ABC).