Its fourth-quarter revenue rose above analyst expectations, by 4.3%, up to $931.5 million – due to an extra working week in December. Excluding the extra week, fourth quarter revenue decline 1.4%.

"We are managing the transition to an increasingly digital world, balancing product development both in print and online while maintaining stringent cost controls," said New York Times Chief Executive Janet Robinson.

The published results included an impairment charge of $814.4 million to reflect the deteriorating finances of Times’ New England Media Group. Despite some pressures to sell off the Globe and other assets, the Times’ has preferred to cut costs and hold on to its New England branch.

Had there been no charge, the Times’ fourth-quarter profit would have increased 39%, to $87.9 million. Its digital operations continued their strong growth, as revenues from online operations increased 42% from 2005's fourth-quarter revenues, up to $84.8 million. Online operations’ revenue still account for only 9% of the Times’ total revenue.

While the Times had relatively good results in most of its operations, and seemed decently optimistic about 2007, its New England Group weighed heavily on the results.

Revenue for the New England group fell 1.4% in the fourth quarter, to $174.5 million. On the whole year, its ad revenue dropped 9% and total revenue fell 5.9%.

Source: smartmoney.com