Lee Enterprises reports $10 million profit in 1st quarter; off 17 percent from same period last year

Lee Enterprises, Inc. – owner of the Quad City Times – reported first quarter earnings Thursday (2/5) of $10 million, down more than 17 percent for the same three months a year ago.

Revenue for the period declined less than 1 percent to $176 million, but operating expenses increased nearly 2 percent and interest expenses and debt financing costs were up 1.3 percent for the three-month period ended Dec. 28, 2014.

Lee Chairman and Chief Executive Officer Mary Junck noted the company's "digital revenue," which includes advertising, marketing services, subscriptions and digital businesses, totaled more than $27 million for the first quarter, up more than 25 percent from the same quarter a year ago.

While digital revenue has continued to grow, the company's revenue from retail, national and classified print advertising continued to decline, falling nearly 6 percent to $115.5 million for the quarter.

CLICK HERE to download the company's earnings news release and first quarter financial information.

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