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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 reports $5 million 2nd quarter loss

on Wed, 06/24/2020 - 00:27   by news

Lee Enterprises – owner of the Quad City Times and Dispatch/Argus – has reported a $5 million loss (9 cents per share) for the second quarter ended March 29. That was nearly double the loss ($2.3 million, 5 cents per share) for the same period a year ago.

Lee President and Chief Executive Officer Kevin Mowbray in the company's earnings news release June 18 stated he was "pleased to announce our solid second quarter financial results."

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.

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