Tony Ridder
Tony Ridder
both company future online position print quarter steps strong took
While the fundamentals of this quarter were disappointing, we took important steps to position our company for a strong future in both print and online publishing, and our accomplishments were significant,
cost discipline environment offset performance promised revenue strong tough
We promised a strong bottom-line performance this year, and we are going to deliver, ... We have offset some tightening in the revenue environment with tough cost discipline, and that will not be a one-time event.
delivered despite key management performance soft strong tight year
As promised, we delivered a very strong earnings-per-share (excluding nonrecurring items) performance in 1998. We did this in a year where not everything was going our way, which demonstrates our ability-and commitment-to tight management despite soft revenues in key markets.
although auto estate remained strong turnaround
Although recruitment and real estate have remained strong all year, we did not see the hoped-for turnaround in auto in August,
advantage business continue newspaper strong
The newspaper business is strong in most markets, and we continue to restructure culturally to take advantage of it,
ad clearly control cost early emphasis february focus growth margin paying quarter revenue seen since strongest
Ad revenue growth in February and March, boosted by the early Easter, was the strongest we have seen since the first quarter of 1998. Our focus on operations, with emphasis on cost control and margin improvement, is clearly paying off.
few good last newspaper next strong year
The last few years have been very strong for the newspaper industry, ... And we think next year is going to be a very good year, as well.
buy consider control
We'd consider it, but we don't have any control over the Times board. Who would buy something like that?
ad month percent revenue seen steady
With ad revenue down a steady (and not worsening) 8 percent to 9 percent in each month of the quarter, we may have seen the floor.
best businesses continue critical great jobs months newspapers online outcome process publish run stay weeks
Our jobs, always, have been to publish great newspapers and online services, and we have done that very well, ... It is important that we continue to do so in the weeks and months to come. Indeed, a big part of all of our jobs will be to stay focused. Nothing could be more critical to the best outcome of the process we're now in than that we run our businesses well.
newspapers regret
For those 12 newspapers that are being sold, the uncertainty is not over, and I regret that very much.
approved board directors specific unless until
unless and until its board of directors has approved a specific transaction.
We feel the need to go our own way.
ad expect grew grow half rate revenue second
We expect ad revenue to grow in the second half at about the same rate that it grew in the first,