Investor Alert

June 16, 2004, 5:00 p.m. EDT

N.Y. Times backs Q2 EPS view

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By David B. Wilkerson, CBS.MarketWatch.com

SAN FRANCISCO (CBS.MW) -- The New York Times Co. said after the market closed Wednesday that it expects to post second-quarter earnings that are within the range of analyst estimates.

The company said it sees earnings per share of 47 cents to 52 cents a share in the June period, in line with the range of forecasts compiled by Thomson First Call.

For the full year, earnings per share are seen rising by a "low- to mid-single-digit" percentage over the 2003 total of $1.98.

In May, the newspaper publisher's advertising revenue rose 3.6 percent, to $169.8 million, compared to the same month a year ago. National ad revenue rose 1.9 percent to $69 million, while revenue from classified ads climbed 5.4 percent to $47.8 million.

Shares /zigman2/quotes/202090840/composite NYT +2.58% fell 27 cents to close at $45.89 ahead of the news.

$ 47.35
+1.19 +2.58%
Volume: 1.19M
Nov. 26, 2021 1:10p
P/E Ratio
Dividend Yield
Market Cap
$7.91 billion
Rev. per Employee

David B. Wilkerson is a reporter for CBS.MarketWatch.com in San Francisco.

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