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."
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Amid a steep fall-off in earnings, forced unpaid furloughs across its 77 news properties, significant staff cuts and a continued stock price decline, top Lee Enterprise, Inc. executives received increased compensation packages from 7 to 62 percent during 2022.
Lee Enterprises, Inc. finally filed its full fiscal 2022 financial report Tuesday (Feb. 27) with the U.S. Security and Exchange Commission (SEC), two months later than normal.
The annual 10-K report showed the company lost 35 cents per share for the 12 months ended Sept. 25, or 14 cents... more