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.  P. 106 – THE NEW YORK TIMES COMPANY GLYPH<160> 2013 Quarters GLYPH<160> (In thousands, except per share data) March 31, 2013 June 30, 2013 September 29, 2013 December 29, 2013 Full Year (13GLYPH<160>weeks) (13GLYPH<160>weeks) (13GLYPH<160>weeks) (13GLYPH<160>weeks) (52GLYPH<160>weeks) Revenues $ 380,675 $ 390,957 $ 361,738 $ 443,860 $ 1,577,230 Operating costs 352,544 344,733 342,712 371,755 1,411,744 Pension settlement expense (1) GLYPH<151> GLYPH<151> GLYPH<151> 3,228 3,228 Multiemployer pension plan withdrawal expense (2) GLYPH<151> GLYPH<151> 6,171 GLYPH<151> 6,171 Operating profit 28,131 46,224 12,855 68,877 156,087 (Loss)/income from joint ventures (2,870) (405) (123) 183 (3,215) Interest expense, net 14,071 14,644 15,454 13,904 58,073 Income/(loss) from continuing operations before income taxes 11,190 31,175 (2,722) 55,156 94,799 Income tax expense 5,082 13,813 2,578 16,419 37,892 Income/(loss) from continuing operations 6,108 17,362 (5,300) 38,737 56,907 (Loss)/income from discontinued operations, net of income taxes (2,785) 2,776 (18,987) 26,944 7,949 Net income/(loss) 3,323 20,138 (24,287) 65,681 64,856 Net loss/(income) attributable to the noncontrolling interest 249 (6) 61 (55) 249 Net income/(loss) attributable to The New York Times Company common stockholders $ 3,572 $ 20,132 $ (24,226) $ 65,626 $ 65,105 Amounts attributable to The New York Times Company common stockholders: Income/(loss) from continuing operations $ 6,357 $ 17,356 $ (5,239) $ 38,682 $ 57,156 (Loss)/income from discontinued operations, net of income taxes (2,785) 2,776 (18,987) 26,944 7,949 Net income/(loss) $ 3,572 $ 20,132 $ (24,226) $ 65,626 $ 65,105 Average number of common shares outstanding: Basic 148,710 148,797 150,033 150,162 149,755 Diluted 155,270 156,511 150,033 160,013 157,774 Basic earnings/(loss) per share attributable to The New York Times Company common stockholders: Income/(loss) from continuing operations $ 0.04 $ 0.12 $ (0.03) $ 0.26 $ 0.38 (Loss)/income from discontinued operations, net of income taxes (0.02) 0.02 (0.13) 0.18 0.05 Net income/(loss) $ 0.02 $ 0.14 $ (0.16) $ 0.44 $ 0.43 Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders: Income/(loss) from continuing operations $ 0.04 $ 0.11 $ (0.03) $ 0.24 $ 0.36 (Loss)/income from discontinued operations, net of income taxes (0.02) 0.02 (0.13) 0.17 0.05 Net income/(loss) $ 0.02 $ 0.13 $ (0.16) $ 0.41 $ 0.41 (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 a partial withdrawal obligation under a multiemployer pension plan. 