Tuesday, 12 December, 2017

Overall Revenue at Lee Enterprises Sags; Digital Shows Strength

Lee Enterprises headquarters in Davenport Lee Enterprises headquarters in Davenport Credit Lee Enterprises
Melba Vasquez | 07 December, 2017, 08:02

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

In terms of earnings per share, 0.06 analysts have a 0.05 EPS mean target for the quarter ending Jun-17, for the quarter ending Sep-16, 0.11 analysts have a 0.14 EPS mean target and for the quarter ending Sep-16 there are 0.22 estimates of 0.22 EPS.

Total operating revenue at the Davenport-based media company Lee Enterprises is down for the fiscal year. That compared favorably to year-earlier net income of $661,000, or 1 cent per share. Cash costs dropped 7.7 percent for the year.

Digital advertising revenue continues to rise. Total digital revenue increased 6.7 percent to $106.0 million in 2017. Digital advertising, however, shows strong improvement.

Total advertising and marketing services revenue decreased 10.2 percent in the quarter, and 10.6 percent for the fiscal year. Monthly page views of Lee mobile, tablet, desktop and app sites averaged 244.2 million, an increase of 11.6 percent over the prior year quarter.

"Our pricing and premium content strategies drove a subscription revenue increase of 0.6 percent in the fourth quarter", Mowbray said. The company ended the fiscal year with almost $567 million in operating revenue, down 7.7 percent from a year ago. "This is an improving trend and the best quarterly Adjusted EBITDA performance, as compared to the prior year quarter, in two years", Chief Executive Officer Kevin Mowbray said.

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