No good news at The New York Times


The New York Times Co. (NYT) just can't get its act together.

Quarter after quarter, the publisher of the best (though flawed) newspaper in the country posts dismal results. Like clockwork, management offers a plethora of excuses and today's quarterly results were no different. The company posted a net loss of $74.5 million, or 52 cents. A year earlier, the New York Times Co. broke even. Excluding one-time items, it would have lost 34 cents. Revenue plunged 18.6 percent to $609 million. Wall Street gave a thumbs down to the results, sending NYT's shares reeling.