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Lee Enterprises earns 10 cents a share in 3rd quarter despite 4 percent drop in operating revenues

on Tue, 08/13/2019 - 02:00   by news

Lee Enterprises – parent company to the Quad City Times and Dispatch/Argus newspapers – earned $6.17 million, 10 cents per share, during the third quarter ended June 30, up slightly from 8 cents per share for the same period a year ago.

Third quarter operating revenues totaled $127.3 million, compared with $132.6 million a year ago, a 4 percent drop, according to the Davenport-based firm that describes itself as "a leading provider of quality, trusted, local news, information and a major platform for advertising in 50 markets."

Lee Enterprises' news release buries second quarter earnings number on second page, 17th paragraph

on Thu, 05/16/2019 - 21:26   by news

Lee Enterprises – owner of the Quad City Times and Dispatch-Argus – reported its second quarter earnings last week (5/10), but readers had to plow through 16 paragraphs of information to find the financial bottomline buried at end of page two of the news release.

The company lost $2.7 million, 5 cents a share, in the second quarter ended March 31, compared with a gain of $2.2 million, 4 cents per share, for the same period a year ago. When including re-valuation of company stock warrants, earnings totaled $75,000, compared with $1.7 million, 3 cents per share, a year ago.

Lee Enterprises' print circulation falls another 8 percent; company looks to future 'inflection point' where digital revenue will surpasses print ad dollars

on Wed, 12/19/2018 - 01:45   by news

Lee Enterprises, Inc. Executive Chairman Mary Junck told stock analysts last week the media company – owner of the Quad City Times and Dispatch/Argus – remains "steadfast in our optimism" with "a growth strategy aimed at achieving a digital inflection point when digital-related revenues exceed print-related revenues."

The company also reported higher earnings for the fourth quarter ($4.4 million versus $3.5 million a year ago) and for the full fiscal year ($28.6 million versus $18.4 million) ended Sept. 30.

The positive comments and financial results, though, weren't enough to lift the firm's stock price, which fell to a 52-week low of $1.87 Tuesday (12/18).

Lee reports lower revenues, earnings in 2nd quarter

on Thu, 05/03/2018 - 21:11   by news

Lee Enterprises – owner of the Quad City Times and Dispatch-Argus newspapers – today (5/3) reported lower revenues and earnings for the second quarter despite "strong performance in digital retail."

Second quarter earnings were $2.5 million, 4 cents per share, for the quarter ended March 25, compared with $6.4 million, 11 cents per share, for the same period a year ago, according to the company news release.

Lee Enterprises reports earnings increase thanks to $19.7 boost from one-time income tax adjustment

on Fri, 02/02/2018 - 00:44   by news

Lee Enterprises – owner of the Quad City Times and Dispatch-Argus newspapers – today (2/1) reported higher net income and earnings for the first quarter ended Dec. 24, thanks primarily to a $19.7-million income tax adjustment stemming from the recently passed federal tax reform legislation.

The Davenport-based media company reported net income for the first quarter of $35.3 million with $19.7 million of that total coming from a one-time adjustment to its deferred tax assets and liabilities to reflect the lowering of the federal base tax rate from 35 to 21 percent.

10 years of swimming against the digital currents leaves Lee Enterprises, Inc. at half its former self

on Tue, 12/12/2017 - 03:10   by news

Back in 2007, Lee Enterprises, Inc. – owner of the Quad City Times and now the Dispatch/Argus – reported daily circulation of just over 1.6 million at its 51 newspapers. Today, that number is down to 788,000 at 47 newspapers, according to the company's latest annual report filed Friday (12/8).

Ex-Davenport city administrator files libel lawsuit against Quad City Times and two reporters

on Thu, 06/22/2017 - 01:33   by Editor

In a libel lawsuit filed last week, ex-Davenport City Administrator Craig Malin claims the Quad City Times published false and misleading statements to "run him out of town" because of "his leadership in expanding access to public information, which the Quad City Times openly opposed."

The lawsuit filed June 15 in Scott County District Court names Lee Enterprises, owner of the Quad City Times, in addition to the newspaper and reporters Barb Ickes and Brian Wellner.

Lee Enterprises second quarter earnings flat after adjusting for one-time insurance boost a year ago

on Thu, 05/04/2017 - 22:04   by Editor

Lee Enterprises – owner of the Quad City Times – reported second quarter earnings Thursday (5/4) of $6.4 million, down 67 percent from the same period a year ago when a one-time insurance settlement added more than $13 million to the company's bottomline.

Net income for the three months ended March 26 was 11 cents per share compared with 36 cents per share for the same period a year ago.

Investment firm specializing in 'out of favor companies' takes 7 percent stake in Lee Enterprises

on Tue, 02/14/2017 - 22:39   by Editor

A Stamford, CT investment firm that specializes in "stressed, distressed and out of favor companies" has acquired a 6.9 percent stake in Lee Enterprises, the Davenport-based media company which owns the Quad City Times.

Archview Investment Group L.P. reported today (2/14) that it had acquired 3.8 million shares of Lee stock as of Dec. 31, 2016. U.S. Securities and Exchange Commission (SEC) rules require disclosure when an individual or company acquires 5 percent or more ownership in a publicly traded firm.

QC Times Sunday edition falls below average weekday circulation for first time; half 2001 level

on Wed, 12/14/2016 - 21:00   by Editor

Subscribers to the Quad City Times Sunday newspaper have fallen to 37,473, half the paper's circulation just 15 years ago.

And, for the first time, according to the Lee Enterprises, Inc. annual report to shareholders, Sunday circulation fell below that of the average circulation for its weekday editions.

Historically, Sunday papers typically have had much larger circulation than weekday editions. More advertising, ad circulars and more space for news have attracted readers to purchase single copies or opt for a Sunday- or weekend-only subscription.

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