BACK IN BLACK: The New York Times Co. turned a profit for the fourth quarter, reporting net income of $90.9 million, compared with $27.6 million a year ago, thanks, in part, to significant cost cutting. Revenues during the period declined 11 percent, to $681.2 million. Newspaper advertising fell 17.1 percent while circulation revenues rose 2.4 percent, due to higher subscriptions and newsstand prices at the Times and Boston Globe. Looking ahead, travel and international fashion ads are expected to stabilize and media, American fashion and cosmetics are showing signs for potential growth.
Internet revenues increased 10.3 percent to $102 million. Chief executive officer Janet Robinson touched upon the Times’ forthcoming metered online payment plan as an additional source of revenue, reiterating it would take affect in 2011. But she didn’t talk about any plans the Times has for the Apple iPad — and neither did the analysts on the earnings conference call — a sign, perhaps, that Wall Street isn’t convinced the device will make a difference, at least at the outset.
— Amy Wicks
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