By: E&P Staff The New York Times Co. said that Q2 earnings per share are expected to be in the range of $.41 to $.43, compared with $.42 for the same quarter last year.
The estimate includes after-tax expenses due to staff cuts announced in September 2005 of $5 million to $6 million or $0.03 to $0.04 per share. In Q2 of 2005, the company recorded an after-tax charge of about $6 million or $0.04 per share for staff cuts announced in May 2005.
Executives also warned that advertising revenue for June would not be as strong as May results. ?The ad market remains challenging,? Janet L. Robinson, president and CEO of the company, said in a statement. ?So far this month we have not seen a continuation of May?s strength. However, ad revenues have been trending above those of last June.?
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