The New York Times posted a $ 33.9 million (43 cents per share) loss for the third quarter ended Sept. 30. For the same period last year, the company had a net profit of $ 7.9 million (3 cents).
Earnings were affected by a $ 48 million pretax loss (45 cents) for the closing of operations of the Gwinnett Daily News. Also included is a $ 3 million pretax charge, or 2 cents a share, for training and start-up costs at a new printing plant. Revenues jumped 9.3% to $ 429.7 million from $ 393.7 million.
The company’s broadcasting/information services group’s third-quarter operating profit was $ 3.5 million in 1992 compared with $ 2.9 million in the 1991 quarter on revenues of $ 20 million and $ 18.2 million, respectively.
The stock closed down $ 1.25 at $ 34.37 on Friday.