Lee Enterprises posts smaller 4Q loss

Print
Email
|

Associated Press

Posted on November 13, 2012 at 2:00 AM

Updated Tuesday, Nov 13 at 2:02 AM

DAVENPORT, Iowa (AP) — Lee Enterprises Inc., publisher of the St. Louis Post-Dispatch and other newspapers, said Monday that it lost 15 cents per share in its fiscal fourth quarter, compared with a loss of 20 cents a year ago. Excluding one-time items, the company lost 1 cent a share, compared with income of 20 cents a year ago, mostly because of higher interest costs this year.

Lee had a loss of $7.7 million, or 15 cents per share, in the July through September period. That compared with a loss of $8.8 million, or 20 cents per share, a year ago.

When adjusted for unusual items, Lee's loss would have been $334,000, or 1 cent per share, in the latest quarter. That compared with income of $8.9 million, or 20 cents per share, a year ago.

Revenue grew 3 percent to $180.3 million from $175.8 million. Advertising revenue grew nearly 1 percent to $124.7 million from $123.7 million. Circulation revenue increased 3 percent to $45.2 million from $43.7 million. Lee said that an extra week in this year's quarter helped its results. Excluding the additional week, revenue would have declined by about 4.5 percent, the company said.

Lee emerged from a prepackaged Chapter 11 bankruptcy process earlier this year. The process allowed the company to restructure its roughly $1 billion of debt. In October, the company said it had reduced its debt to $930.6 million.

Lee's stock closed down 7 cents, or 4.2 percent, to $1.58 on Monday and was unchanged in after-hours trading. The stock has traded between 49 cents and $1.81 in the past 52 weeks.

Print
Email
|