Lee Enterprises Q1 Profit Rises, Despite Weak Revenues - Quick Facts

(RTTNews) - Lee Enterprises, Inc. (LEE), a provider of local news, information and advertising, reported Thursday that its first-quarter income attributable to the company increased to $11.237 million or $0.21 per share from last year's $9.75 million or $0.18 per share.

Adjusted attributable income was $12.06 million or $0.22 per share, compared to $11.74 million or $0.22 per share a year ago.

Operating revenue for the 13 weeks totaled $168.4 million, a decrease of 5.0 percent compared with a year ago.

Advertising and marketing services revenue decreased 8.8 percent to $105.6 million, with retail advertising down 8.4 percent, classified down 13.4 percent and national down 5.7 percent. Digital advertising and marketing services revenue on a stand-alone basis increased 7.2 percent.

Subscription revenue increased 0.1 percent.

Mary Junck, chairman and chief executive officer said, "We are off to a strong start in 2016. Digital advertising, subscriptions, digital services, commercial printing and other revenue accounted for more than half of our total revenue in the quarter. All of these categories are growing, and we see opportunity for future expansion."