Lee Reports Lower Revenue & Income

Quad-City based Lee Enterprises Inc., a major provider of local news, information and advertising in 50 markets, on Wednesday reported earnings of $3.5 million for its fourth fiscal quarter ended September 24, or 6 cents per diluted common share. Archview Investment Group LP is the second biggest holder with 4 million shares now valued at 11.08 million whilst Vanguard Group Inc has 2 million shares valued at 3.75 million. That compared favorably to year-earlier net income of $661,000, or 1 cent per share. Wednesday the media company based in Davenport reported financial results for the fiscal year that ended in September.

The company said it reduced debt by $20.1 million in the quarter. That's a drop of more than 10 percent in interest expense for the period.

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The biggest institutional shareholders in Lee Enterprises, Incorporated include Franklin Mutual Advisers, LLC which owns 5 million shares in the company valued at $9.17 million.

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"Digital advertising revenue increased 6.1 percent and represented 29.3 percent of total advertising revenue for the quarter", Mowbray said.

Lee's media products - daily newspapers, weekly and specialty publications and digital products - serve almost 50 markets in 21 states. For information on the call, go to quarterly call. Get twice-daily updates on what the St. Louis business community is talking about.

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