New York Times Co. Swings to a Profit

http://www.nytimes.com/2013/08/02/business/media/new-york-times-company-swings-to-a-profit.html?hp&pagewanted=print

The New York Times Company swung to a profit in the second quarter, as circulation revenue increased and operating costs dropped.
Net income rose to $20.1 million, or 13 cents a share, from a loss of $87.6 million, or 58 cents a share, in the period a year earlier.
Last year’s second-quarter results were hurt by write-downs the company took related to the sales of About.com and the company’s regional newspaper group. Excluding those items, income from continuing operations was $20.1 million, compared with $38.1 million in the period a year earlier.
Total revenue for the quarter declined less than 1 percent, to $485.4 million, from $489.8 million in the second quarter of 2012. Circulation revenue rose 5.1 percent, to $245.1 million, from $233.3 million. But that gain was largely offset by a 5.8 percent decline in advertising revenue, to $207.5 million.