Inc.

You are here:

You are here

Home / Inc.

QC Times parent company loses nearly $17 million in 1st quarter; print ad revenue plunges 19 percent

on Sat, 02/08/2025 - 04:02   by news

Lee Enterprises, Inc. – owner of the Quad City Times and Dispatch/Argus – hopes increasing digital advertising and subscription revenues will eventually offset the steady decline in the media company's print ad and subscription revenue.

But the latest quarterly report shows the difficulty in jumping from print to online revenue streams.

The company lost $16.9 million for the first quarter as print ad revenues plunged more than 19 percent compared to the same period a year ago. A year ago, the company lost $1.6 million during the first quarter.

Lee Enterprises, Inc. earnings plummet in 4th quarter; company loses $28.5 million in fiscal 2024

on Fri, 12/13/2024 - 06:08   by news

Lee Enterprises, Inc. maintains its transition from a print to digital revenue platform is succeeding, but the Davenport-based media company's overall revenues and earnings continue to slide.

The company reported it lost $1.69 per share ($10 million) for the fourth quarter ended Sept. 29, compared to a loss of 32 cents per share ($1.98 million) for the same quarter a year ago.

For the full year, the company reported it lost $25.8 million ($4.35 per share) compared to a loss of $5.3 million (90 cents per share) for fiscal 2023.

India online media company buys 10 percent stake in Davenport-based Lee Enterprises, Inc.

on Fri, 03/08/2024 - 01:28   by news

An India online media company, Quint Digital Limited of Delhi, has purchased a 10 percent stake in Lee Enterprises, Inc., owner of the Quad City Times, the Dispatch/Argus and more than 70 other media properties.

Quint Digital and three of its owners, Raghav Bahl, Ritu Kapur and Vidar Bahl, purchased a total of 614,455 shares of Lee on Feb. 8. That represents 10 percent of Lee's outstanding common shares.

Lee reports drop in print, digital ad revenue; maintains digital transition strategy will succeed

on Tue, 02/06/2024 - 01:48   by news

Lee Enterprises – owner of the Quad City Times, Dispatch/Argus and 70+ other news publications and web sites – reported first quarter earnings of $1.2 million, a 32 percent decrease from the same period a year ago.

Lee executives again boasted of its growth in digital subscriptions (up 58 percent from the first quarter of 2022), but overall subscription revenue fell 10.5 percent compared with the same period last year.

"Our first quarter results demonstrate our confidence in Lee's digital transformation," Kevin Mowbray, Lee's President and Chief Executive Officer, stated in its earnings news release issued Feb. 1. "We are on a clear path to becoming sustainable solely from the revenue and cash flow from our digital products."

While the company has been pushing aggressively to move print subscribers to digital subscribers, the overall impact has been a steady decrease in total operating revenues.

Lee Enterprises reports $1.3-million 4th quarter loss; says company had 'strong fourth quarter results'

on Fri, 12/08/2023 - 22:11   by news

Lee Enterprises, Inc. – owner of the Quad City Times and DIspatch/Argus – Thursday (12/8) reported a $1.32-million loss for the fourth quarter stating in its earnings news release the company had achieved "strong fourth quarter results."

Lee lost $1.32 million (32 cents per share) during the three-month period ended Sept. 28, and 90 cents per share ($2.73 million) for the company's fiscal year that ended Sept. 25.

Operating cost reductions, digital revenue growth boost Lee Enterprises' net income in third quarter

on Tue, 08/08/2023 - 03:02   by news

A 15 percent increase in digital revenue plus a 15 percent decrease in operating expenses led to a $2.1-million profit for Lee Enterprises, Inc. in the third quarter ended June 25.

Lee, headquartered in Davenport, owns more than 70 newspapers and online news sites including the Quad City Times and Daily Dispatch/Argus.

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

on Wed, 03/01/2023 - 03:19   by news

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.

Lee Enterprises digital revenue reaches 51 percent, but company loses $269,000 in third quarter

on Wed, 08/10/2022 - 21:25   by news

For the first time, online revenue during the third quarter exceeded print income at Lee Enterprises, Inc. – owner of the Quad City Times and Daily Dispatch/Argus newspapers and online news sites.

Despite the continued growth of online revenue, the company lost 5 cents per share ($269,000) for the three-month period ended June 26. A year earlier, Lee reported third quarter earnings of 56 cents per share, or $3.23 million.

Lee Enterprises reports 20 percent decline in first quarter earnings as Alden Global pushes takeover

on Fri, 02/04/2022 - 03:04   by news

Lee Enterprises, Inc. today (2/3) reported a 20 percent decline in first quarter earnings compared with a year ago, while efforts by hedge fund Alden Global Capital to acquire the Davenport-based print and online media company intensified.

Lee – owner of the Dispatch/Argus and Quad City Times – earned $13.2 million ($2.21 per share) during the quarter ended Dec. 26, 2021, compared with $16.4 million ($2.79 per share) for the same period a year ago. The lower earnings occurred despite the inclusion of a one-time $12.3-million gain from the sale of company assets.

Meanwhile, Alden Global is seeking to replace Lee's Chairman and CEO Mary Junck and long-time board member Herbert Maloney III on the company's board of directors. Alden has submitted an alternative slate of candidates for the director slots coming up for election at the company's annual meeting to be held March 10.

Lee Enterprises touts management strategy; reports $5.3 million profit in fourth quarter ended Sept. 26

on Fri, 12/10/2021 - 23:13   by news

Lee Enterprises, Inc. – owner of the Quad City Times, Dispatch/Argus and news operations in 76 other markets – earned $5.3 million during the fourth quarter ended Sept. 26.

The positive earnings announcement Thursday (12/9) came a day after the Davenport-based company's board of directors unanimously rejected the $24-per-share buyout offer made by Alden Global Capital last month.

While the Lee earnings news release held up fourth quarter operating revenues ($194 million) and fiscal year operating revenues ($794.6 million) as signs the company's strategic plan was working, on a pro forma basis, full year operating revenues were down 3 percent compared to 2020.

Pages

Subscribe to Inc.
Go to top