Lee Enterprises profit rises, revenue down
Revenue slid by 5 percent in the first quarter for Davenport-based Lee Enterprises Inc., parent of the Quad-City Times and the St. Louis Post-Dispatch, the St. Louis newspaper reported. Total operating revenue for the period ended Dec. 27 was $168.4 million, down from $177.2 million the year before. An advertising sales decline, including an 8.4 percent drop in retail advertising, dampened results. Net income was $12 million, up slightly from $11.7 million the year before. Adjusted earnings per share totaled 22 cents, the same as a year ago.
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