The quarter was challenging. With total ad revenue up only 1 percent, and with the persistence of the soft revenue patterns across the industry for many months now (employment and real estate excepted), we continue to look to the second half for improvement.
More Quotes from Tony Ridder:
Third-quarter operating results were held back by continuing advertising softness, exacerbated by the terrorist attack on Sept. 11, ... In the aftermath, most advertisers curtailed or canceled their normal schedules for the better part of two weeks.Tony Ridder
We promised a strong bottom-line performance this year, and we are going to deliver, ... We have offset some tightening in the revenue environment with tough cost discipline, and that will not be a one-time event.
Tony Ridder
Despite flat revenue, we beat the Street's consensus (earnings forecast) by 2 cents and faced by far the stiffest advertising comparisons of the year.
Tony Ridder
As promised, we delivered a very strong earnings-per-share (excluding nonrecurring items) performance in 1998, ... We did this in a year where not everything was going our way, which demonstrates our ability-and commitment-to tight management despite soft revenues in key markets.
Tony Ridder
Ad revenue growth in February and March, boosted by the early Easter, was the strongest we have seen since the first quarter of 1998. Our focus on operations, with emphasis on cost control and margin improvement, is clearly paying off.
Tony Ridder
We'd consider it, but we don't have any control over the Times board. Who would buy something like that
Tony Ridder
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Our Founding Fathers would be proud of all that America has achieved, and will continue to achieve, in the coming years.
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