Long-Term Media Trends Unchanged For Pantagraph Owner Lee Enterprises

Lee Enterprises headquarters in Davenport

Lee Enterprises headquarters in Davenport

On Wednesday, the Davenport-based Lee announced earnings of $3.5 million, or 6 cents per share, for the quarter that ended September 24. Digital advertising, however, shows strong improvement.

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. Company CEO Kevin Mowbray says this means Lee will continue to push content and ads to the web and mobile devices.

"Digital advertising revenue increased 6.1 percent and represented 29.3 percent of total advertising revenue for the quarter", Mowbray said. Year-to-date earnings were down. "Fourth quarter total revenue was down 6.8 percent, a performance very close to last quarter and better than the trend from earlier in the year".

Lee still owes creditors more than $548 million.

Total advertising and marketing services revenue decreased 10.2 percent in the quarter, and 10.6 percent for the fiscal year. For the fiscal year, operating revenue decreased 7.7 percent to $566.9 million.

A conference call to discuss fourth-quarter and fiscal year 2017 results will be held at 9 a.m.

Operating revenue fell 5.4 percent in the quarter to $140.2 million.