Davenport-based media company Lee Enterprises Inc. today posted earnings of $4.8 million for its third fiscal quarter, or 8 cents per diluted common share, the Quad-City Times reported. That was down from $6.3 million, or 11 cents per diluted common share, a year ago. Excluding an adjustment related to the change in fair value of stock warrants, adjusted earnings per diluted common share totaled 7 cents in both the current year quarter and 5 cents in the prior year quarter. Digital advertising revenue increased 4.7 percent and represented 33.7 percent of total advertising revenue for the quarter, the company said. Lee’s holdings include the Quad-City Times, the Waterloo-Cedar Falls Courier and the St. Louis Post-Dispatch.