Inc.

Lee Enterprises digital revenue reaches 51 percent, but company loses $269,000 in third quarter

For the first time, online revenue during the third quarter exceeded print income at Lee Enterprises, Inc. – owner of the Quad City Times and Daily Dispatch/Argus newspapers and online news sites.

Despite the continued growth of online revenue, the company lost 5 cents per share ($269,000) for the three-month period ended June 26. A year earlier, Lee reported third quarter earnings of 56 cents per share, or $3.23 million.

Lee Enterprises reports 20 percent decline in first quarter earnings as Alden Global pushes takeover

Lee Enterprises, Inc. today (2/3) reported a 20 percent decline in first quarter earnings compared with a year ago, while efforts by hedge fund Alden Global Capital to acquire the Davenport-based print and online media company intensified.

Lee – owner of the Dispatch/Argus and Quad City Times – earned $13.2 million ($2.21 per share) during the quarter ended Dec. 26, 2021, compared with $16.4 million ($2.79 per share) for the same period a year ago. The lower earnings occurred despite the inclusion of a one-time $12.3-million gain from the sale of company assets.

Meanwhile, Alden Global is seeking to replace Lee's Chairman and CEO Mary Junck and long-time board member Herbert Maloney III on the company's board of directors. Alden has submitted an alternative slate of candidates for the director slots coming up for election at the company's annual meeting to be held March 10.

Lee Enterprises touts management strategy; reports $5.3 million profit in fourth quarter ended Sept. 26

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 Enterprise, Inc. reports third quarter earnings of $3.74 million, 56 cents per share

Lee Enterprises, Inc. – owner of both daily newspapers in the Quad Cities – reported Thursday (7/5) it earned $3.74 million, 56 cents per share, during the third quarter ended June 27.

That compares with a loss of $727,000, 23 cents per share, for the same period a year ago.

On a pro forma basis to reflect acquisition of Berkshire Hathaway Media and Buffalo News last year, total operating revenue fell 4.7 percent and total advertising revenue was down 9.3 percent compared with the same quarter a year ago.

Admissions, revenues at Bettendorf casino plunge as pandemic shutters facility for more than two months

Admissions and revenues at Bettendorf's Isle of Capri Casino fell to lows not seen since the launch of its predecessor Lady Luck Riverboat Casino in 1995 after the COVID-19 virus shuttered the facility for two and half months this spring.

For the 12-months ended June 30, the Isle – now owned by Eldorado Resorts, Inc. – reported gross revenue of $51.2 million and admissions of 627,436. That would be the lowest revenue and admissions since the fiscal 1995 results when the Lady Luck Riverboat generated $10 million in revenue and attracted 325,698 gamblers in operating less than three months.

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

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.

Lee Enterprises, Inc. touts 8 percent increase in digital revenue during first quarter, but total company revenues fell more than 5 percent from a year ago

Lee Enterprises, Inc. – owner of the Dispatch/Argus and QC Times newspapers – Thursday (2/7) reported first quarter earnings of $10.7 million, or 18 cents per cent share, while touting its 8 percent increase in digital advertising revenue from a year ago.

Despite the improved performance of digital advertising, Lee's total revenue fell 5.3 per cent to $136 million for the three-month period. Digital advertising now accounts for nearly 34 percent of the media company's total ad revenues, according to the Lee news release.

Proxy battle heats up for three Lee board seats

An activist shareholder who owns nearly 5 percent of Lee Enterprises, Inc. stock has stepped up his proxy fight to oust three board members – including the board chairman and the CEO/president of the Davenport-based media company.

J. Cano Cannell who operates Cannell Capital LLC Monday (1/28) filed additional reasons his firm is seeking to replace Board Chairman Mary Junck, CEO/President Kenneth Mowbray and board member Herbert Maloney at Lee's February 20 board meeting.

Lee Enterprises operating revenue falls 4.8 percent in third quarter; per share earnings decline 27 percent

Despite gains in its digital advertising revenues, Lee Enterprises, Inc. today (8/3) reported overall operating revenues in the third quarter fell nearly 5 percent and net income per share was off 27 percent compared with the same period a year ago.

Lee – owner of the Quad City Times and Dispatch-Argus newspapers – had net income of $4.75 million (8 cents per share) for the three-month period ended June 24, compared with $6.29 million (11 cents per share) a year ago.

10 years of swimming against the digital currents leaves Lee Enterprises, Inc. at half its former self

Back in 2007, Lee Enterprises, Inc. – owner of the Quad City Times and now the Dispatch/Argus – reported daily circulation of just over 1.6 million at its 51 newspapers. Today, that number is down to 788,000 at 47 newspapers, according to the company's latest annual report filed Friday (12/8).

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