Lee Reports 14% Jump in 1Q Earnings

By: (AP) Newspaper publisher Lee Enterprises Inc. reported Monday that its earnings rose 14% in its latest fiscal quarter on stronger advertising revenues.

Lee earned $18.1 million, or 40 cents per share, versus $15.8 million, or 35 cents per share, in the same period a year ago.

Mary Junck, chairman and chief executive officer, credited a focus on revenue, readership, circulation, and strong local news. She also pointed to online growth and careful cost control.

Advertising revenue for the quarter increased 7.5% to $125.1 million. Total operating revenue was up 5.2% to $168.7 million. Circulation revenue declined 2.2%.

Excluding acquisitions, advertising revenue was up 5.1% and total operating revenue rose 3.7%.


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