By: (AP) Knight Ridder Inc. affirmed its previous forecast for second-quarter earnings in the low-to-mid 90-cents-a-share range, compared with year-ago earnings of 90 cents a share.
In a statement Tuesday, the nation's second-largest newspaper publisher said early indications of June retail advertising revenue are for a stronger performance than in May.
The company said last week that May advertising revenue fell 0.4% from a year earlier, while retail advertising fell 2.3%.
Analysts expect second-quarter earnings of 93 cents a share, according to Thomson First Call.
The company publishes 31 daily newspapers, including
The Philadelphia Inquirer, the
San Jose Mercury News, The Kansas City Star, and the
Fort Worth Star-Telegram.
Knight Ridder shares fell 27 cents Tuesday to close at $69.25 on the New York Stock Exchange.
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