Waterloo-Cedar Falls Courier: Davenport-based media company Lee Enterprises Inc. today reported earnings of $2.5 million for its second fiscal quarter, or 4 cents per diluted common share. That was down from $6.4 million, or 11 cents per diluted common share, in the same quarter a year ago. Excluding an adjustment related to the change in fair value of the stock warrants, adjusted earnings per diluted common share totaled 3 cents in both the current year quarter and the prior year quarter. Digital advertising revenue increased 2.7 percent and represented 31.9 percent of total advertising revenue for the quarter.