Late fiscal 2022 financial report from Lee Enterprises shows net income down 35 cents per share

Lee Enterprises, Inc. finally filed its full fiscal 2022 financial report Tuesday (Feb. 27) with the U.S. Security and Exchange Commission (SEC), two months later than normal.

The annual 10-K report showed the company lost 35 cents per share for the 12 months ended Sept. 25, or 14 cents more than preliminary numbers released Dec. 8 as part of its fourth quarter financial results.

Lee is publisher of the Quad City Times and Daily Dispatch/Argus and some 75 other newspapers and online news sites including the St. Louis Post-Dispatch, the Buffalo News and the Omaha World-Herald.

The fiscal 2022 annual report was due Dec. 25, but Lee announced it was unable to file the 10-K "without unreasonable effort or expense primarily due to additional time required to complete our assessment of the effectiveness of our internal control over financial reporting."

"Management does not anticipate this continued evaluation to have any material impact on the preliminary financial results included in this earnings release," the company news release stated at the time.

The preliminary fiscal 2022 numbers provided in the December showed a loss of 22 cents per share for the 12-month period, while the final annual report filed Tuesday showed a loss of 35 cents per share for the full year.

In its preliminary financials from December, Lee's report showed a more than $100,000 income tax benefit for the year, while the new report indicates the company had a nearly $700,000 income tax expense.

CLICK HERE to download the full 10-K financial report.

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