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Lee reports improved fourth quarter


Quad-City Times: Davenport-based media company Lee Enterprises Inc. today reported earnings of $3.5 million for its fourth quarter, or 6 cents per diluted common share, up from $700,000, or 1 cent per diluted common share, in the previous fourth quarter. For the full fiscal year, earnings totaled $28.6 million, or 50 cents per diluted common share, down from $36 million, or 64 cents per share. “Adjusted EBITDA for the fourth quarter totaled $36.7 million and was down 1.1 percent from the prior year. This is an improving trend and the best quarterly Adjusted EBITDA performance, as compared to the prior year quarter, in two years,” Chief Executive Officer Kevin Mowbray said.

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