Sci-tech

Lee Enterprises reports improved quarter, fiscal year

Lee Enterprises reports improved quarter, fiscal year

Despite growing revenue from digital services, earnings fell for Lee Enterprises.

For the same quarter a year ago, earnings totaled $0.7 million, or 1 cent per diluted common share.

Lee Enterprises says the $3.5 million in third quarter results compares to $0.7 million for the same period past year. For the fiscal year, earnings totaled $28.6 million, or 50 cents per share, compared to $36.0 million, or 64 cents per share, in the prior year.

The $20.1 million (quarter) and $68.8 million (year) reduction in debt has reduced interest expense for the media company by $6.7 million in the last 12 months. Total digital revenue was $26.7 million for the quarter, an increase of 3.8 percent, while subscription revenue rose 0.6 percent largely because of price increases and additional revenue from premium content.

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.

Portland Trail Blazers vs. Washington Wizards - 12/5/17 NBA Pick, Odds, and Prediction
Head to head, the over is 4-0 in the last four meetings and the home team is 15-7 ATS in the last 22 meetings. With Portland employing one of the NBA's slower tempos and best defenses, expect this game to stay under.

Digital advertising revenue continues to rise.

Total shares held by institutions as of the most recent company filings are 10,225,784 with a reported 887,965 bought and 6,226,150 sold.

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.

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