Lee Enterprises – owner of the Quad City Times and 46 other daily newspapers – reported a loss of $6 million, or 12 cents per share, for its second quarter which ended March 31.
The results were an improvement from a year ago, when the firm reported a loss of $26.6 million, 54 cents per share. The narrower loss and improved revenue trends reported by the company helped push up the stock nearly 10 percent in trading Tuesday to $1.39 per share.
"Lee continues to post strong cash flow and reduce debt ahead of schedule as we build on our ability to resume revenue growth," Lee Chairman and Chief Executive Officer Mary Junck stated in the company's earnings news release.
The company has reduced its debt to $893 million as of March 31, down more than $100 million since its refinancing in January of 2012.
CLICK HERE to download a copy of the company's news release and quarterly financial statements.
