QUARTERLY INFORMATION (UNAUDITED)

Quarterly financial information for each quarter in the years ended December 27, 2015 and December 28, 2014 is included in the following tables. The New England Media Group, Regional Media Group and the About Group’s results of operations have been presented as discontinued operations for all periods presented. See Note 13 of the Notes to the Consolidated Financial Statements for additional information regarding these discontinued operations.



	2015 Quarters
(In thousands, except per share data)	March 29, 2015			June 28, 2015			September 27, 2015		December 27, 2015			Full Year
	(13 weeks)			(13 weeks)			(13 weeks)		(13 weeks)			(52 weeks)
Revenues	$	384,239		$	382,886		$	367,404	$	444,686		$	1,579,215
Operating costs	350,277			344,835			345,471		352,663			1,393,246
Pension settlement expense⁽¹⁾	40,329			—			—		—			40,329
Multiemployer pension plan withdrawal expense⁽²⁾	4,697			—			—		4,358			9,055
Operating (loss)/profit	(11,064		)	38,051			21,933		87,665			136,585
(Loss)/income from joint ventures	(572		)	(356		)	170		(25		)	(783		)
Interest expense, net	12,192			9,776			9,127		7,955			39,050
(Loss)/income from continuing operations before income taxes	(23,828		)	27,919			12,976		79,685			96,752
Income tax (benefit)/expense	(9,407		)	11,700			3,611		28,006			33,910
(Loss)/income	(14,421		)	16,219			9,365		51,679			62,842
Net (loss)/income from continuing operations	(14,421		)	16,219			9,365		51,679			62,842
Net loss attributable to the noncontrolling interest	159			181			50		14			404
Net (loss)/income attributable to The New York Times Company common stockholders	$	(14,262	)	$	16,400		$	9,415	$	51,693		$	63,246
Amounts attributable to The New York Times Company common stockholders:
(Loss)/income from continuing operations	$	(14,262	)	$	16,400		$	9,415	$	51,693		$	63,246
Net (loss)/income	$	(14,262	)	$	16,400		$	9,415	$	51,693		$	63,246
Average number of common shares outstanding:
Basic	163,988			166,355			165,052		162,179			164,390
Diluted	163,988			168,316			166,981		164,128			166,423
Basic earnings/(loss) per share attributable to The New York Times Company common stockholders:
(Loss)/income from continuing operations	$	(0.09	)	$	0.10		$	0.06	$	0.32		$	0.38
Net (loss)/income	$	(0.09	)	$	0.10		$	0.06	$	0.32		$	0.38
Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders:
(Loss)/income from continuing operations	$	(0.09	)	$	0.10		$	0.06	$	0.31		$	0.38
Net (loss)/income	$	(0.09	)	$	0.10		$	0.06	$	0.31		$	0.38


(1)	We recorded a settlement charge related to a lump-sum payment offer to certain former employees who participated in a non-qualified pension plan.


(2)	We recorded an estimated charge related to partial withdrawal obligations under multiemployer pension plans.



	2014 Quarters
(In thousands, except per share data)	March 30, 2014			June 29, 2014			September 28, 2014			December 28, 2014			Full Year
	(13 weeks)			(13 weeks)			(13 weeks)			(13 weeks)			(52 weeks)
Revenues	$	390,408		$	388,719		$	364,718		$	444,683		$	1,588,528
Operating costs	365,799			362,697			373,750			382,259			1,484,505
Early termination charge	2,550			—			—			—			2,550
Pension settlement expense⁽¹⁾	—			9,525			—			—			9,525
Operating profit/(loss)	22,059			16,497			(9,032		)	62,424			91,948
(Loss)/income from joint ventures	(2,147		)	25			1,599			(7,845		)	(8,368		)
Interest expense, net	13,301			13,205			15,254			11,970			53,730
Income/(loss) from continuing operations before income taxes	6,611			3,317			(22,687		)	42,609			29,850
Income tax expense/(benefit)	3,764			(5,743		)	(10,247		)	8,685			(3,541		)
Income/(loss) from continuing operations	2,847			9,060			(12,440		)	33,924			33,391
Loss from discontinued operations, net of income taxes	(994		)	—			—			(92		)	(1,086		)
Net income/(loss)	1,853			9,060			(12,440		)	33,832			32,305
Net (incomes)/loss attributable to the noncontrolling interest	(110		)	128			(59		)	1,043			1,002
Net income/(loss) attributable to The New York Times Company common stockholders	$	1,743		$	9,188		$	(12,499	)	$	34,875		$	33,307
Amounts attributable to The New York Times Company common stockholders:
Income/(loss) from continuing operations	$	2,737		$	9,188		$	(12,499	)	$	34,967		$	34,393
Loss from discontinued operations, net of income taxes	(994		)	—			—			(92		)	(1,086		)
Net income/(loss)	$	1,743		$	9,188		$	(12,499	)	$	34,875		$	33,307
Average number of common shares outstanding:
Basic	150,612			150,796			150,822			150,779			150,673
Diluted	161,920			161,868			150,822			160,455			161,323
Basic earnings/(loss) per share attributable to The New York Times Company common stockholders:
Income/(loss) from continuing operations	$	0.02		$	0.06		$	(0.08	)	$	0.23		$	0.23
Loss from discontinued operations, net of income taxes	(0.01		)	—			—			—			(0.01		)
Net income/(loss)	$	0.01		$	0.06		$	(0.08	)	$	0.23		$	0.22
Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders:
Income/(loss) from continuing operations	$	0.02		$	0.06		$	(0.08	)	$	0.22		$	0.21
Loss from discontinued operations, net of income taxes	(0.01		)	—			—			—			(0.01		)
Net income/(loss)	$	0.01		$	0.06		$	(0.08	)	$	0.22		$	0.20


(1)	We recorded a settlement charge related to a lump-sum payment offer to certain former employees who participated in a non-qualified pension plan.

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.