4th quarter earnings

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Large write-down of assets leaves Lee with a $6.34 million loss for fourth quarter ended September 25

on Mon, 12/12/2022 - 04:02   by news

Lee Enterprises – owner of the Quad City Times, Daily Dispatch/Argus and more than 70 other newspapers and online news sites – reported a $6.34 million loss for the fourth quarter ended September 25. However, the quarterly financial results were skewed into negative territory primarily by a $21 million (non-cash) write-down of company assets.

Without the write-down, Lee likely would have had positive earnings for the quarter, as opposed to the $1.09 per share loss it reported Thursday (December 8).

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.

Lee posts $1.3 million loss in 4th quarter and fiscal year; huge debt continues to dog financial results

on Fri, 12/11/2020 - 23:48   by news

If only Lee Enterprises, owner of the Quad City Times and Dispatch/Argus, wasn't $538 million in debt.

It would have had $47 million more in income during the past fiscal year to invest back into its 77 newspapers and news web site markets.

And in the fourth quarter ended Sept. 27, the company would have had $12.4 million less in interest expenses, resulting in an $11.1-million profit rather than a $1.3 million loss.

Lee Enterprises 4th quarter earnings plunge; stock sinks more than 8 percent to $1.73 per share

on Fri, 12/13/2019 - 01:15   by news

The stock price of Lee Enterprises, Inc. – owner of the Quad City Times and Dispatch/Argus – fell more than 8 percent Thursday (12/12) after the Davenport-based media company reported 4th quarter net income fell 70 percent compared with the same period last year.

Net income for the fourth quarter ended Sept. 29 totaled $1.35 million (1 cent per share), compared with $4.44 million (7 cents per share) in 2018. For the full fiscal year, Lee reported net income of $15.9 million, compared with $47 million in fiscal 2018.

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