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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (40247)	9/17/2003 11:57:54 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70045

New York Times Q3 earns to miss avg. forecast (NYT) by Emily Church LONDON (CBS.MW) -- The New York Times Co. (NYT) warned it sees third quarter earnings per share of 30-32 cents a share, down from 38 cents a share in the third quarter of 2002. Analysts had expected third quarter earnings per share at 39 cents, on average, according to Reuters Research. "The weak ad environment we saw in July continued throughout August," said Leonard P. Forman, senior vice president and chief financial officer, in a statement. "September, which is seasonally stronger than the prior two summer months, has been trending better. Advertising revenue for The New York Times Arts & Leisure Fall Preview was up 28 percent over last year's issue, with the largest gains in the live entertainment and entertainment categories. Help-wanted advertising has shown signs of bottoming out at The Boston Globe." The media group said August advertising revenue in its newspaper group decreased 1.4 percent over the year-ago period. Looking ahead, it said: "Given our year-to-date performance, we believe that our 2003 GAAP EPS could be slightly below that of 2002. The fourth quarter, which is the largest quarter of the year, will be key to determining the Company's annual results."