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Second quarter Lee Enterprise earnings increase thanks to one-time $30-milion insurance settlement

on Fri, 05/06/2016 - 21:50   by Editor

Lee Enterprises, Inc. – owner of the Quad City Times and 46 other daily newspapers – reported Thursday (5/5) morning second quarter earnings of $19.5 million, or 36 cents per share, thanks largely to a one-time insurance gain of $30.6 million.

Without the insurance proceeds, the company would have reported a 1 cent per share loss for the 3-month period ended March 27, compared with a 3 cents per share gain for the same quarter a year ago.

Lee Enterprise stock falls to new 52-week low after reporting 5 percent drop in first quarter revenues

on Thu, 02/04/2016 - 21:54   by Editor

Lee Enterprises, Inc. stock today (2/4) fell to a new 52-week low – $1.15 per share – after reporting first quarter operating revenues declined 5 percent compared with a year ago.

The company's first quarter includes the Thanksgiving and Christmas holiday season, typically the best advertising period for newspapers, and the results apparently disappointed investors. Shares of the Davenport-based media firm, owner of the Quad City Times, dropped more than 10 cents per share in heavy trading after the company announced its earnings.

Lee reports higher 4th quarter earnings; lower expenses offset 4.3% drop in operating revenue

on Thu, 12/10/2015 - 22:56   by Editor

Lee Enterprises reported higher fourth quarter earnings today (12/10) compared with a year ago thanks primarily to lower operating expenses that offset a 4.3 percent decline in revenue for the three-month period.

For the fourth quarter ended Sept. 27, Lee reported earnings of 18 cents ($10.13 million) compared with 6 cents per share ($3.38 million) for the same quarter last year. For the fiscal year, earnings totaled 44 cents per share ($24.3 million) compared with 13 cents per share ($7.67 million) a year ago.

Lee touts cost reductions at lender confo; decline reflects 44% reduction in employment since 2007

on Fri, 10/09/2015 - 02:08   by Editor

Lee Enterprises executives touted their 39 percent reduction in costs since 2007 at an Arizona lenders' conference last month, a decline which tracks the steady decline in employment at the Davenport-based firm from more than 8,100 to just over 4,500 full-time employees.

The presentation at Deutsche Bank's Leveraged Finance Conference September 29 may have helped contribute to recent gains in the price of its stock, which has climbed nearly a dollar per share since hitting a 52-week low of $1.36 per share Sept. 10.

Lee sells California newspaper properties for $5 million; stock continues slides to 52-week low

on Fri, 09/11/2015 - 22:04   by Editor

Davenport-based Lee Enterprises last week announced the sale of its Napa, California newspaper building and property for $5 million, but the strategy to sell assets to pay down debt hasn't stopped the steady decline in the company's stock price.

Lee stock price fell to a new 52-week low Thursday (9/10), closing at $1.47 per share. The company's stock reached $5.42 per share on March 6, 2014, and has since been losing ground. In early August, the stock was just above $3 per share, but has lost half its value in just the past month.

Lee Enterprises earns $1.8 million in 2nd quarter; subscription revenue up and newsprint expenses fall

on Sat, 05/09/2015 - 00:00   by Editor

Davenport-based Lee Enterprises, Inc. posted net income of $1.8 million – 3 cents per share – for its second quarter ended March 29, thanks in part to higher subscription revenues and lower newsprint and interest expenses.

QC Times circulation for 2014 shows continued decline; new branded edition now being distributed

on Wed, 03/18/2015 - 21:12   by Editor

Quad City Times Sunday and weekday circulation continued its downward trend in 2014, according to figures in the Lee Enterprise annual report sent shareholders earlier this year.

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

on Fri, 02/06/2015 - 22:05   by Editor

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.

Lee Enterprises cuts retiree health benefits amid continuing revenue decline

on Thu, 12/17/2009 - 21:11   by Editor

December 17, 2009 by editor

While touting a slowing in the decline of its operating revenue, Lee Enterprises (owner of the Quad City Times) announced this week it was cutting health care benefits for many of its retirees.

The changes to its health coverage/benefits is expected to reduce the corporation's liability by up to $30 million, according to the company's annual report filed with the U.S. Security and Exchange Commission (SEC). The move triggered protests by union members outside the offices of Lee's St. Louis Post-Dispatch.

In its filing with the SEC, Lee said it was eliminating the medical coverage for some retirees and increasing the share other retired employees would be responsible for paying for health coverage.

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