... up from $27.7 million in the same quarter a year ago, as circulation revenue rose and advertising declines slowed.

For the year, the company, which owns The Boston Globe, posted net income of $19.9 million, reversing a loss of nearly $58 million in 2008. The Times Co. posted operating earnings per share of 44 cents, excluding special items, for the quarter, exceeding Wall Street expectations of 38 cents a share.

Fourth quarter revenue slid 11.5 percent, to $681.2 million, a more modest decline from the third-quarter drop of 16.9 percent.

New York Times Co. chief executive Janet Robinson said in a statement that the advertising environment remains "challenging," but she expects some improvement in 2010.

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