Dow Jones reported net income of $2.4 million, or three cents a share, compared with $16.7 million, or 19 cents a share, in last year's third quarter. Results for the latest period included a charge of $2.9 million, or three cents a share, related to a contract guarantee. Excluding this item, the company earned six cents a share, two cents below the mean estimate of analysts surveyed by Thomson Financial First Call.
Revenue fell 11% to $352.4 million, from $397.6 million a year earlier. Advertising linage at The Wall Street Journal fell 12%, and the company said it expects a decline in the fourth quarter in the mid- to high-teen percentages.
"Factors driving the weak global advertising environment, which remain largely beyond our control, continue to weigh heavily on our Wall Street Journal print businesses," Dow Jones Chairman-CEO Peter R. Kann said in a statement.