QUARTERLY INFORMATION (UNAUDITED)

Both the About Group and the Regional Media Group’s results of operations have been presented as discontinued operations for all periods presented. See Note 15 of the Notes to the Consolidated Financial Statements for additional information regarding these discontinued operations.



	2012 Quarters
(In thousands, except per share data)	March 25, 2012			June 24, 2012			September 23, 2012			December 30, 2012			Full Year
	(13 weeks)			(13 weeks)			(13 weeks)			(14 weeks)			(53 weeks)
Revenues	$	475,432		$	489,802		$	449,028		$	575,818		$	1,990,080
Operating costs	462,812			446,599			440,519			480,461			1,830,391
Pension settlement expense⁽¹⁾	—			—			—			48,729			48,729
Other expense⁽²⁾	—			—			—			2,620			2,620
Operating profit	12,620			43,203			8,509			44,008			108,340
Gain on sale of investments⁽³⁾	17,848			37,797			—			164,630			220,275
Impairment of investments⁽⁴⁾	4,900			—			600			—			5,500
(Loss)/income from joint ventures	(29		)	1,079			1,027			927			3,004
Interest expense, net	15,452			15,464			15,497			16,402			62,815
Income/(loss) from continuing operations before income taxes	10,087			66,615			(6,561		)	193,163			263,304
Income tax expense/(benefit)	1,401			29,102			(2,796		)	75,775			103,482
Income/(loss) from continuing operations	8,686			37,513			(3,765		)	117,388			159,822
Income/(loss) from discontinued operations, net of income taxes	33,391			(125,689		)	6,026			59,789			(26,483		)
Net income/(loss)	42,077			(88,176		)	2,261			177,177			133,339
Net loss/(income) attributable to the noncontrolling interest	53			27			21			(267		)	(166		)
Net income/(loss) attributable to The New York Times Company common stockholders	$	42,130		$	(88,149	)	$	2,282		$	176,910		$	133,173
Amounts attributable to The New York Times Company common stockholders:
Income/(loss) from continuing operations	$	8,739		$	37,540		$	(3,744	)	$	117,121		$	159,656
Income/(loss) from discontinued operations, net of income taxes	33,391			(125,689		)	6,026			59,789			(26,483		)
Net income/(loss)	$	42,130		$	(88,149	)	$	2,282		$	176,910		$	133,173
Average number of common shares outstanding:
Basic	147,867			148,005			148,254			148,461			148,147
Diluted	151,468			149,799			148,254			154,685			152,693
Basic earnings/(loss) per share attributable to The New York Times Company common stockholders:
Income/(loss) from continuing operations	$	0.06		$	0.25		$	(0.02	)	$	0.79		$	1.08
Income/(loss) from discontinued operations, net of income taxes	0.22			(0.85		)	0.04			0.40			(0.18		)
Net income/(loss)	$	0.28		$	(0.60	)	$	0.02		$	1.19		$	0.90
Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders:
Income/(loss) from continuing operations	$	0.06		$	0.25		$	(0.02	)	$	0.76		$	1.04
Income/(loss) from discontinued operations, net of income taxes	0.22			(0.84		)	0.04			0.38			(0.17		)
Net income/(loss)	$	0.28		$	(0.59	)	$	0.02		$	1.14		$	0.87


(1)	In the fourth quarter of 2012, we recorded a $48.7 million non-cash pension settlement charge in connection with the immediate pension benefit offer to certain former employees who participate in The New York Times Companies Pension Plan.


(2)	In the fourth quarter of 2012, we recorded a $2.6 million charge in connection with a legal settlement.


(3)	In the first quarter of 2012, we recorded a $17.8 million gain on the sale of 100 of our units in Fenway Sports Group. In the second quarter of 2012, we recorded a $37.8 million gain on the sale of our remaining 210 units in Fenway Sports Group. In the fourth quarter of 2012, we recorded a $164.6 million gain on the sale of our ownership interest in Indeed.com.


(4)	In the first and third quarters of 2012, we recorded a $4.9 million and $0.6 million non-cash charge, respectively, for the impairment of certain investments.



	2011 Quarters
(In thousands, except per share data)	March 27, 2011			June 26, 2011			September 25, 2011			December 25, 2011		Full Year
	(13 weeks)			(13 weeks)			(13 weeks)			(13 weeks)		(52 weeks)
Revenues	$	469,522		$	484,144		$	451,569		$	547,395	$	1,952,630
Operating costs	457,750			450,674			430,520			452,081		1,791,025
Impairment of assets⁽¹⁾	—			9,225			—			—		9,225
Pension withdrawal expense⁽²⁾	—			4,228			—			—		4,228
Other expense⁽³⁾	—			—			—			4,500		4,500
Operating profit	11,772			20,017			21,049			90,814		143,652
Gain on sale of investment⁽⁴⁾	5,898			—			65,273			—		71,171
(Loss)/income from joint ventures	(5,749		)	2,791			(1,068		)	4,054		28
Premium on debt redemption⁽⁵⁾	—			—			46,381			—		46,381
Interest expense, net	24,591			25,152			20,039			15,461		85,243
(Loss)/income from continuing operations before income taxes	(12,670		)	(2,344		)	18,834			79,407		83,227
Income tax (benefit)/expense	(6,029		)	(2,902		)	12,440			28,423		31,932
(Loss)/income from continuing operations	(6,641		)	558			6,394			50,984		51,295
Income/(loss) from discontinued operations, net of income taxes	11,867			(120,381		)	9,074			7,921		(91,519		)
Net income/(loss)	5,226			(119,823		)	15,468			58,905		(40,224		)
Net loss attributable to the noncontrolling interest	193			105			217			40		555
Net income/(loss) attributable to The New York Times Company common stockholders	$	5,419		$	(119,718	)	$	15,685		$	58,945	$	(39,669	)
Amounts attributable to The New York Times Company common stockholders:
(Loss)/income from continuing operations	$	(6,448	)	$	663		$	6,611		$	51,024	$	51,850
Income/(loss) from discontinued operations, net of income taxes	11,867			(120,381		)	9,074			7,921		(91,519		)
Net income/(loss)	$	5,419		$	(119,718	)	$	15,685		$	58,945	$	(39,669	)
Average number of common shares outstanding:
Basic	146,777			147,176			147,355			147,451		147,190
Diluted	146,777			151,802			151,293			149,887		152,007
Basic earnings/(loss) per share attributable to The New York Times Company common stockholders:
(Loss)/income from continuing operations	$	(0.04	)	$	0.01		$	0.05		$	0.35	$	0.35
Income/(loss) from discontinued operations, net of income taxes	0.08			(0.82		)	0.06			0.05		(0.62		)
Net income/(loss)	$	0.04		$	(0.81	)	$	0.11		$	0.40	$	(0.27	)
Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders:
(Loss)/income from continuing operations	$	(0.04	)	$	—		$	0.04		$	0.34	$	0.34
Income/(loss) from discontinued operations, net of income taxes	0.08			(0.79		)	0.06			0.05		(0.60		)
Net income/(loss)	$	0.04		$	(0.79	)	$	0.10		$	0.39	$	(0.26	)


(1)	In the second quarter of 2011, we recorded a $9.2 million charge for the impairment of assets related to certain assets held for sale primarily of Baseline.


(2)	In the second quarter of 2011, we recorded a $4.2 million estimated charge for our pension withdrawal obligation under a multiemployer pension plan at the Globe.


(3)	In the fourth quarter of 2011, we recorded a $4.5 million charge for a retirement and consulting agreement in connection with the retirement of our former chief executive officer.


(4)	In the first quarter of 2011, we recorded a $5.9 million gain from the sale of a portion of our interest in Indeed.com. In the third quarter of 2011, we recorded a $65.3 million gain from the sale of 390 units in Fenway Sports Group.


(5)	In the third quarter of 2011, we recorded a $46.4 million charge in connection with the prepayment of all $250.0 million aggregate principal amount of the 14.053% Notes.

Earnings/(loss) per share amounts for the quarters do not necessarily equal the respective year-end amounts for earnings or loss per share due to the weighted-average number of shares outstanding used in the computations for the respective periods. Earnings/(loss) per share amounts for the respective quarters and years have been computed using the average number of common shares outstanding.

One of our largest sources of revenue is advertising. Our business has historically experienced higher advertising volume in the fourth quarter than the remaining quarters because of holiday advertising.