WASHINGTON (dpa-AFX) - New York Times Co. (NYT) reported that its fourth-quarter net income attributable to common stockholders was $58.95 million or $0.39 per share, down from $67.14 million or $0.44 per share in the same quarter last year. Excluding severance and the special items, earnings per share from continuing operations were $0.45 in the fourth quarter of 2011 compared with $0.46 in the fourth quarter of 2010. Total revenues decreased 2.8 percent to $643.0 million from $661.7 million last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share on revenues of $646.39 million for the quarter. Analysts' estimates typically exclude special items. Total advertising revenue trends in the first quarter of 2012 are expected to be similar to the level experienced in the fourth quarter of 2011. Total circulation revenues are projected to increase in the high-single digits in the first quarter of 2012 as the Company expects to benefit from its digital subscription initiatives, as well as from the print circulation price increase at The New York Times implemented in the first quarter of 2012. The Company expects operating costs to increase in the low-single digits in the first quarter of 2012.
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