New York Times Hits Estimates, But GAAP Results Lag Last Year's
Apr 26th 2013 5:19PM
Updated Apr 26th 2013 5:51PM
New York Times (NYS: NYT) reported earnings on April 25. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), New York Times met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share dropped significantly. GAAP earnings per share dropped significantly.
Gross margins grew, operating margins contracted, net margins dropped.
New York Times chalked up revenue of $465.9 million. The four analysts polled by S&P Capital IQ wanted to see revenue of $470.3 million on the same basis. GAAP reported sales were 6.7% lower than the prior-year quarter's $499.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.04. The six earnings estimates compiled by S&P Capital IQ averaged $0.04 per share. Non-GAAP EPS of $0.04 for Q1 were 50% lower than the prior-year quarter's $0.08 per share. (The prior-year quarter included $0.19 per share in earnings from discontinued operations.) GAAP EPS of $0.02 for Q1 were 93% lower than the prior-year quarter's $0.28 per share. (The prior-year quarter included $0.19 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 57.7%, 40 basis points better than the prior-year quarter. Operating margin was 4.9%, 140 basis points worse than the prior-year quarter. Net margin was 0.7%, 770 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $486.9 million. On the bottom line, the average EPS estimate is $0.13.
Next year's average estimate for revenue is $1.97 billion. The average EPS estimate is $0.43.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 172 members out of 438 rating the stock outperform, and 266 members rating it underperform. Among 142 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 53 give New York Times a green thumbs-up, and 89 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on New York Times is hold, with an average price target of $8.64.
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The article New York Times Hits Estimates, But GAAP Results Lag Last Year's originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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