Lee Enterprises, Incorporated Reports Earnings Results for the Third Quarter and Nine Months Ended June 25, 2023
August 03, 2023 at 07:00 am EDT
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Lee Enterprises, Incorporated reported earnings results for the third quarter and nine months ended June 25, 2023. For the third quarter, the company reported revenue was USD 171.31 million compared to USD 195.04 million a year ago. Net income was USD 1.5 million compared to net loss of USD 0.269 million a year ago. Basic earnings per share from continuing operations was USD 0.26 compared to basic loss per share from continuing operations of USD 0.05 a year ago. Diluted earnings per share from continuing operations was USD 0.25 compared to diluted loss per share from continuing operations of USD 0.05 a year ago.
For the nine months, revenue was USD 527.13 million compared to USD 587.33 million a year ago. Net loss was USD 3.28 million compared to net income of USD 5.11 million a year ago. Basic loss per share from continuing operations was USD 0.56 compared to basic earnings per share from continuing operations of USD 0.89 a year ago. Diluted loss per share from continuing operations was USD 0.56 compared to diluted earnings per share from continuing operations of USD 0.87 a year ago.
Lee Enterprises, Incorporated is a provider of local news and information in the markets it serves with digital subscription and advertising platforms. The Companyâs product portfolio includes digital subscription platforms, daily, weekly and monthly newspapers and niche publications, all delivering original local news and information. The Companyâs products offer print and digital editions, and its content and advertising are available in real time through its websites and mobile apps. It operates in predominately mid-sized communities with products ranging from daily newspapers and associated digital products, such as the St. Louis Post-Dispatch and The Buffalo News, to non-daily newspapers with news websites and digital platforms serving smaller communities. The Company is focused on three categories: subscriptions to its product offerings, advertising and marketing solutions to local advertisers, and digital services to a diverse set of customers.