NewYorkTimes posts
FeedPosted Feb 7th 2010 12:30PM by Trey Thoelcke (RSS feed)
Filed under: Earnings Reports, Forecasts, Agilent Technologies (A), Chipotle Mexican Grill'A' (CMG), Hasbro Inc (HAS)
Quarterly reports continue to roll out this week, with results due from Allstate Corp. (ALL), Coca-Cola Co. (KO), Marriott International Inc. (MAR), Molson Coors Brewing Co. (TAP), New York Times Co. (NYT), Pepsico Inc. (PEP), Sprint Nextel Corp. (S), Viacom (VIA), Walt Disney Co. (DIS) and many others. Here's a look at a few of the companies that analysts surveyed by Thomson Reuters expect to be the biggest earnings gainers this week.
Analysts are looking for Coinstar Inc. (CSTR), which distributes coin-counting, DVD-rental, and other self-service kiosks, to report that its fourth-quarter earnings more than doubled from a year ago to $0.32 per share. Revenue for the three months that ended in December is expected to have jumped 26.1% to $329.2 million. The analysts' forecast for the full year calls for earnings of $0.94 per share (+46.8%) on $1.2 billion in revenue (+25.9%). Coinstar has beat earnings estimates in the past three quarters, by as much as six cents per share.
Continue reading The Week in Preview: High Hopes for Coinstar, Agilent, Chipotle, Baidu, Hasbro
Posted Jan 27th 2010 11:20AM by Tom Johansmeyer (RSS feed)
Filed under: Competitive Strategy, New York Times'A' (NYT), News Corp'B' (NWS), Media World
The recent announcement by the New York Times (NYT) that it would start to require subscriptions next year has drawn no shortage of attention and commentary. It has tried to put content behind a pay wall before (and failed), as have other newspapers.
Almost universally, newspapers have struggled with online subscriptions, with the Financial Times and Wall Street Journal, a News Corp (NWS) property, the only two that have really delivered results better than awful. Whether the New York Times can operate at that level is in doubt, particularly given the stunning realization about Long Island daily newspaper Newsday.
Continue reading Newsday Shows Future of Online Subscription Model
Posted Nov 20th 2009 4:40PM by Tom Johansmeyer (RSS feed)
Filed under: Newspapers, New York Times'A' (NYT), Gannett Co (GCI), Media World
We've put three quarters behind us in 2009, and the most recent one was merely another miserable step downward for the beleaguered newspaper industry. Total ad revenue plummeted in the third quarter to $6.4 billion for the print jockeys, a decline of 28%. This info from the Newspaper Association of America drives home the notion that conditions will only worsen for the newspaper industry. So, if you're hoping those shares of New York Times Company (NYT), Gannett (GCI) and Washington Post Company (WPO), holding your breath will leave you little more than dizzy.
Of the total advertising revenue generated in the third quarter of 2009, $5.8 million came from print, the lowest quarterly amount this year. The $623 million in online advertising sold by America's newspapers was also 2009's worst. Both are down substantially from the same quarter in 2008, when the newspapers posted print ad revenue of $8.2 million and online ad revenue of $750 million, according to NAA data. At this time last year, we lamented year-over-year declines approaching 20%. Now, we have the same feelings as ad revenue drops approach 30%.
Continue reading Newspaper ad revenue of 28%, 8 quarters of double-digit drops
Posted Nov 13th 2009 3:00PM by Tom Johansmeyer (RSS feed)
Filed under: New York Times'A' (NYT), Media World
This winter, a bit more of New York is headed to Florida. Layoffs for 2010 have already been announced for the New York Times Company(NYT). The New York Times News Service will lose 25 editorial positions next year and shift the service's editing to one of the parent company's Florida newspapers. At present, the news service has 30 editorial jobs. Some of the layoffs will occur in February, and the others will happen in May.
These layoffs are not included in the planned slashing of 100 jobs in the flagship newspaper's newsroom -- a workforce reduction of 8% that should take hold by the end of the year. The NY Times is also ceasing pension contributions for nonunion employees.
Continue reading NYT News Service migrates after cut
Posted Oct 30th 2009 4:40PM by Steven Mallas (RSS feed)
Filed under: Earnings Reports, Newspapers, New York Times'A' (NYT), Gannett Co (GCI), Media World
The Washington Post Company (NYSE: WPO) published data for the third quarter earlier today. Can't say I was mightily impressed by the numbers. Sure, there was a profit increase, but the top line wasn't exciting, and the newspaper division, as you might have expected, experienced a sharp decline in sales.
Net revenues rose 2%. Earnings per share came in at $1.81. That was sharply higher than the $1.08 per share recorded in the comparable period. Yet, I think you have to be careful in terms of reading too much positive spin into the growth rate.
Continue reading The Washington Post Company increases income, but shares sell off
Posted Oct 30th 2009 2:20PM by Tom Johansmeyer (RSS feed)
Filed under: Time Warner (TWX), New York Times'A' (NYT), News Corp'B' (NWS), Media World
The mayhem in the media industry continues. The Wall Street Journal, a News Corp (NASDAQ: NWS) property, is closing its Boston bureau and sending nine employees into the wind. The newswire and MarketWatch operations are going to stay open in Boston, however, with no headcount impact.
The Journal doesn't have any plans to close other offices, according to a memo by managing editor Robert Thomson: "there are no plans, nascent or otherwise, to close any other U.S. or international bureau." The WSJ will still support an "investigative function" in Boston, but the New York-based Money and Investing team will cover Boston's mutual fund industry, which boasts such heavy hitters as Fidelity.
At the same time, magazine company Time Inc., owned by Time Warner (NYSE: TWX) is looking to cut $100 million in expenses, and layoffs will undoubtedly figure into the equation. The company that owns Time, Fortune, People and Sports Illustrated – and falls under the same umbrella as AOL, which owns BloggingStocks – is feeling the squeeze of a media recession that's even worse than the regular recession we've all been battling for what feels like decades.
Continue reading Time and WSJ to lay off more
Posted Oct 20th 2009 10:40AM by Tom Johansmeyer (RSS feed)
Filed under: Newspapers, New York Times'A' (NYT), Gannett Co (GCI), Media World
The folks in the news business are probably growing to hate Mondays. Gannett's (NYSE: GCI) profits are off by more than 50%, and the New York Times announced that it's chopping 100 jobs from the newsroom, along with an unspecified number elsewhere in the newspaper. Like Gannett, the New York Times cites declines in ad revenue as the reason for the decision. The company is hoping that employees will take voluntary buyouts where offered, but it is prepared to conduct a round of layoffs if necessary.
The newspaper, which is the flagship property of the New York Times Company (NYSE: NYT), cut 100 newsroom positions last year, mostly through voluntary buyouts, before a "relatively small" round of layoffs. This year's 100-job cut is approximately 8% of the newsroom, but the paper will still have the largest in the United States. Approximately 1,150 reporters and editors will remain. Already, 100 jobs have been slashed on the business side, leaving it now staffed at 1,850.
Continue reading New York Times to cut 100 newsroom positions
Posted Apr 20th 2009 5:20PM by Steven Mallas (RSS feed)
Filed under: Earnings Reports, Forecasts, Google (GOOG), Yahoo! (YHOO), Time Warner (TWX), New York Times'A' (NYT)
The New York Times (NYSE: NYT) is set to report Q1 earnings on Tuesday, April 21. Don't expect a profit. In fact, I wouldn't expect much of anything. After all, we are talking about a company that makes its money off newsprint. Sad as it might be to say, newspapers are fast becoming dinosaurs in the age of digital information.
According to this source, analysts think that the New York Times will lose about $0.04 per share. That's really bad, considering that the same source says that the company was profitable in the year-ago frame, generating $0.09 per share. It isn't surprising though, is it? Not only has the recession destroyed advertising growth in all forms of media, but newspapers simply aren't looked to anymore as the first source of news. The Internet has disrupted that reputation for good.
Continue reading Earnings preview: New York Times' first quarter not expected to be good
Posted Feb 20th 2009 8:00AM by Zac Bissonnette (RSS feed)
Filed under: Newspapers, New York Times'A' (NYT)
The New York Times Co. (NYSE:
NYT) has finally announced that it will eliminate its quarterly dividend to conserve cash and decrease debt. In a
press release, chairman Arthur Sulzberger Jr. said that "Today's decision provides the Company with additional financial flexibility given the current economic environment and the uncertain business outlook."
The New York Times Co. has been struggling with declining profitability and a weak balance sheet, and recently secured a loan from Mexican billionaire Carlos Slim on extremely punishing terms:
14% interest and warrants to acquire 16 million of the company's A shares.
By continuing to pay significant dividends even as the company's balance sheet declined, the Times forced itself into a deal of desperation with very high costs to shareholders.
Continue reading New York Times eliminates dividend
Posted Jan 29th 2009 11:00AM by Zac Bissonnette (RSS feed)
Filed under: New York Times'A' (NYT)
The New York Times Co. (NYSE:
NYT) reported a fourth quarter profit decline of 48% yesterday, but that actually managed to top analysts' expectations and the stock moved up 6.79%.
But there could be more trouble for the company.
The Wall Street Journal reports (subscription required) that the market meltdown "blew out the Times's unfunded pension obligation to $625 million from $48 million at the end of 2007. The new figure is a whopping 73% of the Times' market capitalization."
Unless the market makes a miraculous rebound reminiscent of the Boston Red Sox (which the Times is in the process of trying to sell its stake in) 2004 ALCS comeback. the Times will have to fund that obligation over the next seven years.
Continue reading New York Times has pension drama
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