The Future of Print

Earnings: Lee Enterprises’ Q1 Profit Plummets 69 Percent; Online Revs Slide 14 Percent

Posted in Doom by futureofprint on January 20, 2009

Lee Enterprises NYSE: LEE got a necessary reprieve last week when it received waivers on extending its latest debt payment, but it is surely not out of the woods by any stretch. And while no one was expecting that profits would even hold steady, preliminary Q1 figures show a staggering loss, as earnings from continuing op plunged 69 percent to $6.8 million $0.15 per share from $22.1 million $0.48 per share a year ago.

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