By: The Associated Press
(AP) The New York Times Co. on Wednesday affirmed a series of forecasts it made in May, including that the comparison of its second-quarter print advertising revenue with a year earlier will be better than the comparison in the first quarter, when print ad revenue fell more than 12 percent.
The company also affirmed its guidance that online ad revenue would rise by a percentage in the high teens. And it stuck by its previous expectation that cost savings would moderate in 2010 because the company restored salaries it rolled back last year and because newsprint prices are expected to rise in the third and fourth quarters.
The company expects depreciation and amortization between $125 million and $130 million, capital expenditures between $45 million and $55 million, interest of $85 million to $90 million and income from joint ventures to be $5 million to $10 million.
And it expects a $10 million gain from the sale of an asset at one of the paper mills and a gain of $9 million from the sale of a portion of the Company’s interest in NESV.