Ron Mayo

Second quarter Lee Enterprise earnings increase thanks to one-time $30-milion insurance settlement

Lee Enterprises, Inc. – owner of the Quad City Times and 46 other daily newspapers – reported Thursday (5/5) morning second quarter earnings of $19.5 million, or 36 cents per share, thanks largely to a one-time insurance gain of $30.6 million.

Without the insurance proceeds, the company would have reported a 1 cent per share loss for the 3-month period ended March 27, compared with a 3 cents per share gain for the same quarter a year ago.

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