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Lee Enterprises fiscal 1Q net income falls 18 pct

DAVENPORT, Iowa (AP) - Lee Enterprises says its fiscal first-quarter net income fell 18 percent as revenue slipped.

For the quarter ended Dec. 29, the Davenport, Iowa-based publisher earned $11.9 million, or 22 cents per share. That compared with $14.6 million, or 28 cents per share, in the same quarter a year earlier.

Excluding special charges related to discontinued operations, the company says it earned $12.8 million, or 24 cents per share, up from an adjusted $10.5 million, or 20 cents per share, a year earlier.

Operating revenue fell 4 percent to $177.4 million from $184.7 million, as print and digital advertising and marketing services revenue declined 5 percent to $122.4 million.

But digital revenue, including advertising, marketing services, subscriptions and digital businesses, increased 13 percent to $21.6 million.


(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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