Thursday, October 19, 2006
Great News: NY Times Profits Plunge 39%
The NY Times is feeling the wrath of the American people for printing the secrets of this country in a time of war: their profitability become more precarious each passing day.
It couldn't happen to a nicer gang of traitors.
NY Times Co. 3Q Profit Plunges 39%, Belo Also Down
Yep...its that "weak advertising" that is driving down profits by 39%. That's the ticket!
What is actually driving down profits is more and more people awakening to the fact that The Times and its staff of traitors has decided that its hatred of George W. Bush is so thick, so heavy, that it will print any story designed to hurt the government. But they are hurting America. And America is turning off The Times. And we hope this trend continues, and gets worse for the Times.
The NY Times is feeling the wrath of the American people for printing the secrets of this country in a time of war: their profitability become more precarious each passing day.
It couldn't happen to a nicer gang of traitors.
NY Times Co. 3Q Profit Plunges 39%, Belo Also Down
The New York Times Co. reported Thursday that its third-quarter 2006 profit from continuing operations plunged 39.2% on costs related to its job cuts and a loss on its sale of its 50% stake in the Discovery Times Channel.
Meanwhile, Belo, publisher of The Dallas Morning News, said net income for the quarter fell to $19.2 million, or 19 cents per share, compared to $22.1 million, or 20 cents per share, during the same period last year.
At the New York Times Co., 3Q operating profit was down 48% from the same period in 2005 to $20.5 million on total revenues that slipped 2.4% to $739.6 million.
Reflecting a continuing tough advertising environment, total ad revenue was off 4.2% to 465,476.
The Times Co. said it earned $14 million, or 10 cents per share, compared with $23.1 milion, or 16 cents per share, in the third quarter of 2005.
Charges related to the staff reduction and the cable TV investment loss each reduced per-share price by 3 cents.
"Our third-quarter results reflect the continued weakness in the print advertising marketplace," Times Co. President and CEO Janet L. Robinson said in a statement. "We are, however, strongly encouraged by the discipline our teams have shown in holding the line on operating costs, which were virtually flat with the third quarter of last year. The leadership we are showing in transitioning from our print-centric distribution model to become a multi-platform content provider continues to pay dividends through the robust growth in our Internet-related revenues, which contributed more than 8% of the company's revenues in the quarter and are on track to exceed $250 million by year end."
Yep...its that "weak advertising" that is driving down profits by 39%. That's the ticket!
What is actually driving down profits is more and more people awakening to the fact that The Times and its staff of traitors has decided that its hatred of George W. Bush is so thick, so heavy, that it will print any story designed to hurt the government. But they are hurting America. And America is turning off The Times. And we hope this trend continues, and gets worse for the Times.
