Lee Enterprises forecasts 3.8% year-over-year decline in revenue for fiscal Q4 with digital ad revenues up 23.4%, same property revenues down 3.5%; full-year revenues expected to fall 3.3%
October 24, 2011
– Lee Enterprises, Incorporated (NYSE: LEE) announced today that it expects to report a year-over-year revenue decline of approximately 3.8 percent for its fourth fiscal quarter ended Sept. 25, 2011, with digital advertising revenue up 23.4 percent. Same property revenue is expected to decline approximately 3.5 percent. For the full fiscal year, the revenue decline is expected to be 3.3 percent, with digital advertising revenue up 27.0 percent and same property revenue down 3.1 percent.
Carl Schmidt, vice president, chief financial officer and treasurer, said Lee has not finalized its financial statement closing process for the quarter and may identify items that would require adjustments to these latest forecasts. Final results for the quarter are scheduled to be announced Nov. 7.
Lee Enterprises is a leading provider of local news and information, and a leading platform for advertising, in its markets, with 48 daily newspapers and a joint interest in four others, rapidly growing digital products and nearly 300 specialty publications in 23 states. Lee's ewspapers have circulation of 1.4 million daily and 1.7 million Sunday, reaching nearly four million readers in print alone. Lee's digital sites attracted 21.6 million unique visitors in September 2011. Lee's markets include St. Louis, Mo.; Lincoln, Neb.; Madison, Wis.; Davenport, Iowa; Billings, Mont.; Bloomington, Ill.; and Tucson, Ariz. Lee Common Stock is traded on the New York Stock Exchange under the symbol LEE. For more information about Lee, please visit www.lee.net.