NYT » Topics » 2005 Guidance

This excerpt taken from the NYT 10-Q filed Nov 4, 2005.

2005 Guidance

 

A summary of guidance on key financial measures for 2005, on a GAAP basis, is shown below. 

 

Item

 

2005 Guidance

Total Company Advertising Revenues

 

Growth rate expected to be in the low-single digits

News Media Group Circulation Revenues

 

Expected to be flat to down slightly

Total Company Expenses Including Stock-based Compensation Expense Recorded on the Income Statement

 

Growth rate expected to be in the mid- to high-single digits (a)

Newsprint Cost Per Ton

 

Growth rate expected to be 9-11%

Stock-based Compensation Expense Recorded on the Income Statement

 

$28 to $34 million (b)

Depreciation & Amortization

 

$142 to $146 million

Total Capital Expenditures

 

$255 to $285 million (c)

Results From Joint Ventures

 

Income of $6 to $9 million

Interest Expense

 

$50 to $53 million

Dilution Attributable to About.com

 

$.03 or less per share

Tax Rate(d)

 

41.0%

 


(a)       Includes stock-based compensation expense of $28 to $34 million (or $.12 to $.16 per diluted share), and staff reduction charges related to programs announced in May and September.

 

(b)       Stock-based compensation expense for the first nine months of 2005 was approximately $16 million and we expect the fourth quarter expense to be $12 to $18 million.  Stock-based compensation expense in the fourth quarter will be higher than previous quarters because of accelerated expense for awards expected to be granted in December 2005 to retirement-eligible employees.

 

(c)        Includes our capital expenditures ($85 to $100 million) and those of our development partner ($55 to $65 million) in connection with the new headquarters.

 

(d)       Includes the tax effect related to the pre-tax gain of $114.5 million ($62.8 million after tax or $.43 per share) in connection with the sale of our current headquarters in the first quarter of 2005.  Excluding the tax effect, the tax rate for 2005 is expected to be 39.6%.

 

28



 

This excerpt taken from the NYT 8-K filed Oct 19, 2005.

2005 Guidance

The guidance shown below includes the effect of the acquisitions and investment made in 2005.

 

Guidance for total capital expenditures as required by GAAP now includes those of the Company’s development partner in connection with its new headquarters.  Previously, our development partner’s capital expenditures were reported separately, and not included in our guidance.

 

The Company expects a total charge for a staff reduction program announced in September to be $35 to $45 million, which will be recorded over the next three quarters, beginning in the fourth quarter of 2005.  There have been no other changes in guidance since the Company last issued it on September 20.

 

In the fourth quarter, the Company plans to make a tax-deductible contribution to its qualified pension funds of $45 to $50 million.

 

4



 

Item

 

2005 Guidance

Total Company Advertising Revenue

 

Growth rate expected to be in the low-single digits

News Media Group Circulation Revenue

 

Expected to be flat to down slightly

Total Company Expenses Including Stock-based Compensation Expense Recorded on the Income Statement

 

Growth rate expected to be in the mid- to high-single digits (a)

Newsprint Cost Per Ton

 

Growth rate expected to be 9-11%

Stock-based Compensation Expense Recorded on the Income Statement

 

$28 to $34 million(b)

Depreciation & Amortization

 

$142 to $146 million

Total Capital Expenditures

 

$255 to $285 million(c)

Results From Joint Ventures

 

Income of $6 to $9 million

Interest Expense

 

$50 to $53 million

Dilution Attributable to About.com

 

$.03 or less per share

Tax Rate (d)

 

41.0%

 


(a)          Includes stock-based compensation expense of $28 to $34 million (or $.12 to $.16 per diluted share), and staff reduction charges related to programs announced in May and September.

 

(b)         Stock-based compensation expense for the first nine months of 2005 was approximately $16 million and we expect the fourth quarter expense to be $12 to $18 million.  Stock-based compensation expense in the fourth quarter will be higher than previous quarters because of accelerated expense for awards expected to be granted in December 2005 to retirement-eligible employees.

 

(c)          Includes capital expenditures of the Company ($85 to $100 million) and its development partner ($55 to $65 million) in connection with the new headquarters.

 

(d)         Includes the tax effect related to the pre-tax gain of $114.5 million ($62.8 million after tax or $.43 per share) in connection with the sale of the Company’s current headquarters in the first quarter.  Excluding the tax effect, the tax rate for 2005 is expected to be 39.6%.

 

This excerpt taken from the NYT 10-Q filed Aug 4, 2005.

2005 Guidance

 

A summary of guidance on key financial measures for 2005, on a GAAP basis, is shown below. 

 

Item

 

2005 Guidance

Total Company Advertising Revenues

 

Growth rate expected to be in the low to mid-single digits

News Media Group Circulation Revenues

 

Expected to be on a par with 2004

Newsprint cost per ton

 

Growth rate expected to be 10-12%

Stock-based Compensation Expense recorded on the Income Statement

 

$36 to $40 million

Depreciation & Amortization

 

$146 to $150 million

Total Company Expenses

 

Growth rate expected to be in the mid-single digits (a)

Capital Expenditures 

 

$215 to $245 million (b)

Results From Joint Ventures

 

Income of $5 to $8 million

Interest Expense

 

$51 to $55 million

Dilution Attributable to About.com

 

$.04 or less per share

Tax Rate

 

40.4% (c)

 


(a)         Includes stock-based compensation expense of $36 to $40 million (or $.17 to $.19 per diluted share), and the charge in the second quarter and the estimated charge in the third quarter for the targeted staff reduction program.

 

(b)         In 2005 the Company’s capital expenditures related to the new headquarters are expected to be $115 to $130 million.

 

(c)          This tax rate includes the tax effect related to the pre-tax gain of $114.5 million ($62.8 million after tax or $.43 per diluted share) in connection with the sale of the Company’s current headquarters in the first quarter of 2005.  Excluding the tax effect, the tax rate for 2005 is expected to be 39.0%.

 

27



 

This excerpt taken from the NYT 8-K filed Jul 21, 2005.

2005 Guidance

The guidance below is based on GAAP and includes the effect of the acquisitions and investment made in the first quarter.  There have been no changes in guidance since the Company last issued it on June 16.

 

Item

 

2005 Guidance

Total Company Advertising Revenues

 

Growth rate expected to be in the low- to mid-single digits

News Media Group Circulation Revenues

 

Expected to be on a par with 2004

Newsprint Cost Per Ton

 

Growth rate expected to be 10-12%

Stock-based Compensation Expense Recorded on the Income Statement

 

$36 to $40 million

Depreciation & Amortization

 

$146 to $150 million

Total Company Expenses Including Stock-based Compensation Expense Recorded on the Income Statement

 

Growth rate expected to be in the mid-single digits (a)

Capital Expenditures

 

$215 to $245 million (b)

Results From Joint Ventures

 

Income of $5 to $8 million

Interest Expense

 

$51 to $55 million

Dilution Attributable to About.com

 

$.04 or less per share

Tax Rate

 

40.4% (c)

 


(a)          Includes stock-based compensation expense of $36 to $40 million (or $.17 to $.19 per diluted share), and the charge in the second quarter and the estimated charge in the third quarter for the targeted staff reduction program.

(b)         In 2005 the Company’s capital expenditures related to the new headquarters are expected to be $115 to $130 million.

(c)          This tax rate includes the tax effect related to the pre-tax gain of $114.5 million ($62.8 million after tax or $.43 per share) in connection with the sale of the Company’s current headquarters in the first quarter.  Excluding the tax effect, the tax rate for 2005 is expected to be 39.0%.

 

This excerpt taken from the NYT 10-Q filed May 5, 2005.

2005 Guidance

        A summary of guidance on key financial measures for 2005, on a GAAP basis, is shown below.

Item

  2005 Guidance

Total Company advertising revenues   Growth rate expected to be in the mid-single digits
News Media Group circulation revenues   Expected to be on a par with 2004
Newsprint cost per ton   Growth rate expected to be in the low teens
Stock-based compensation expense recorded on the Income Statement   $23 to $27 million
Total Company expenses   Growth rate expected to be in the mid-single digits(a)
Depreciation & amortization   $145 to $147 million
Capital expenditures   $235 to $265 million(b)
Results from joint ventures   Income of $5 to $8 million
Interest expense   $51 to $55 million
Dilution attributable to About.com   $.04 or less per share
Tax rate   40.8%(c)


(a)
Excluding stock-based compensation expense of $23 to $27 million (or $.11 to $.13 per share) in 2005, total Company expenses are expected to increase in the low- to mid-single digits.

(b)
In 2005 the Company's capital expenditures related to the new headquarters are expected to be $120 to $135 million.

(c)
This tax rate includes the tax effect related to the pre-tax gain of $114.5 million ($62.8 million after tax or $.43 per diluted share) in connection with the sale of the Company's current headquarters in the first quarter of 2005. Excluding the tax effect, the tax rate for 2005 is expected to be 39.7%.

26


RESULTS OF OPERATIONS

This excerpt taken from the NYT 8-K filed Apr 14, 2005.

2005 Guidance

 

Below is 2005 guidance based on GAAP.  With the exception of additional guidance related to dilution from the About.com acquisition, there have been no changes in guidance since the Company last issued it on March 29.  It includes the effect of the acquisitions and investment made in the first quarter.

 

Item

 

2005 Guidance

Total Company Advertising Revenues

 

Growth rate expected to be in the mid-single digits

News Media Group Circulation Revenues

 

Expected to be on a par with 2004

Newsprint Cost Per Ton

 

Growth rate expected to be in the low teens

Stock-based Compensation Expense Recorded on the Income Statement

 

$23 to $27 million

Total Company Expenses Including Stock-based Compensation Expense Recorded on the Income Statement

 

Growth rate expected to be in the mid-single digits (a)

Depreciation & Amortization

 

$145 to $147 million

Capital Expenditures

 

$235 to $265 million (b)

Results From Joint Ventures

 

Income of $5 to $8 million

Interest Expense

 

$51 to $55 million

Dilution Attributable to About.com

 

$.04 or less per share

Tax Rate

 

40.8% (c)

 


(a)   Excluding stock-based compensation expense of $23 to $27 million (or $.11 to $.13 per share) in 2005, total Company expenses are expected to increase in the low- to mid-single digits.

(b)   In 2005 the Company’s capital expenditures related to the new headquarters are expected to be $120 to $135 million.

 

4



 

(c)   This tax rate includes the tax effect related to the pre-tax gain of $114.5 million ($62.8 million after tax or $.43 per share) in connection with the sale in the first quarter of the Company’s current headquarters.  Excluding the tax effect, the tax rate for 2005 is expected to be 39.7 percent.

 

This excerpt taken from the NYT 8-K filed Mar 29, 2005.

2005 Guidance

 

Below is 2005 guidance based on GAAP.  The only changes that the Company is making to its annual guidance today is in its interest expense, as noted above, and to its cost guidance.  Previously the Company had said that excluding stock-based compensation expense of $23 to $27 million (or 11 cents to 13 cents per share) in 2005, total Company expenses are expected to increase in the low single digits.  With the acquisitions and investment noted above, the Company now believes that excluding stock-based compensation expense of $23 to $27 million (or 11 cents to 13 cents per share), total Company expenses are expected to increase in the low to mid-single digits.

 

2



 

Item

 

2005 Guidance

Total Company Advertising Revenues

 

Growth rate expected to be in the mid-single digits

News Media Group Circulation Revenues

 

Expected to be on a par with 2004

Newsprint Cost Per Ton

 

Growth rate expected to be in the low teens

Stock-based Compensation Expense Recorded on the Income Statement

 

$23 to $27 million

Total Company Expenses Including Stock-based Compensation Expense Recorded on the Income Statement

 

Growth rate expected to be in the mid-single digits (a)

Depreciation & Amortization

 

$145 to $147 million

Capital Expenditures

 

$235 to $265 million(b)

Results From Joint Ventures

 

Income of $5 to $8 million

Interest Expense

 

$51 to $55 million

Tax Rate

 

40.8%(c)

First-quarter EPS

 

74 to 76 cents

 


(a)          Excluding stock-based compensation expense of $23 to $27 million (or 11 cents to 13 cents per share) in 2005, total Company expenses are expected to increase in the low- to mid-single digits.

 

(b)         In 2005 the Company’s costs related to the new headquarters are expected to be $120 to $135 million.

 

(c)          This tax rate includes the income tax effect related to the pre-tax gain of approximately $116 million ($63 million after tax or 43 cents per share) in connection with the sale in the first quarter of the Company’s existing headquarters.  Excluding the effect, the tax rate for 2005 is expected to be 39.7%.

 

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements.  These risks and uncertainties include national and local conditions, as well as competition, that could influence the levels (rate and volume) of retail, national and classified advertising and circulation generated by the Company’s various markets and material increases in newsprint prices.  They also include other risks detailed from time to time in the Company’s publicly-filed documents, including the Company’s Annual Report on Form 10-K for the year ended December 26, 2004.  The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

 

The New York Times Company (NYSE: NYT), a leading media company with 2004 revenues of $3.3 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other newspapers, eight network-affiliated television stations, two New York City radio stations and more than 40 Web sites, including NYTimes.com, Boston.com and About.com.  For the fifth consecutive year, the Company was ranked No. 1 in the publishing industry in Fortune’s 2005 list of America’s Most Admired Companies.  The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.

 

# # #

 

3


 

This excerpt taken from the NYT 10-K filed Feb 24, 2005.

2005 Guidance

The key financial measures for 2005 discussed in the table below are computed under accounting principles generally accepted in the United States of America ("GAAP"), unless otherwise noted.


Item

  2005 Guidance(a)


Total Company advertising revenues   Growth rate expected to be in the mid-single digits
News Media Group circulation revenues   Expected to be on a par with 2004
Newsprint cost per ton   Growth rate expected to be in the low teens
Stock-based compensation expense recorded on the Income Statement   $23 to $27 million
Total Company expenses including stock-based compensation expense recorded on the Income Statement   Growth rate expected to be in the mid-single digits(b)
Depreciation & Amortization   $145 to $147 million
Capital expenditures   $235 to $265 million(c)
Results from joint ventures   Income of $5 to $8 million
Interest expense   $35 to $39 million
Tax rate   39.7%(d)

(a)
The 2005 guidance does not reflect the effect of the acquisition of About, Inc. See Note 18 of the Notes to the Consolidated Financial Statements for additional information regarding this acquisition.

(b)
Based on zero expense for stock-based compensation recorded on the income statement in 2004. Excluding stock-based compensation expense of $23 to $27 million on a pre-tax basis ($.11 to $.13 per diluted share) in 2005, total Company expenses are expected to increase in the low-single digits.

(c)
In 2005 the Company's costs (excluding its development partners' portion of costs) related to the new headquarters are expected to be $120 to $135 million.

(d)
The tax rate above is presented on a non-GAAP basis because it excludes the income tax effect related to a gain of approximately $116 million in connection with the Company's sale of its existing headquarters (see the "New Headquarters Building" section on page F-11 and F-12 for additional information on the sale). The Company believes that the tax rate presented above in this manner is more meaningful as this tax rate is estimated based on the Company's ongoing operations. Including the gain, on a GAAP basis, the Company's tax rate is expected to be 40.8%. Additionally, this tax rate and the tax rate in the table above includes the estimated benefit under the provisions of the American Jobs Creation Act of 2004.

F-5


RESULTS OF OPERATIONS

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki