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Lee Enterprises Reports Revenue Growth in October

Wednesday, November 22, 2006

Press release from the issuing company

DAVENPORT, Iowa--Nov. 21, 2006-- Lee Enterprises, Incorporated, reported today that same property advertising revenue increased 1.0 percent in October compared with a year ago, while online advertising revenue increased 53.9 percent. On a same property basis, which excludes the impact of acquisitions and divestitures made in the current or prior year, retail advertising revenue decreased 0.3 percent. Classified advertising revenue decreased 1.5 percent, with employment down 5.9 percent, automotive down 1.5 percent, real estate down 3.6 percent, other newspaper classified categories up 2.8 percent, and classified in non-daily publications up 7.2 percent. National advertising revenue decreased 2.3 percent. Niche publication advertising revenue increased 8.1 percent. Circulation revenue decreased 0.2 percent. At the former Pulitzer Inc. newspapers, which are included in same property revenue for the first time in October, advertising revenue increased 2.8 percent. Advertising revenue rose 2.6 percent in St. Louis and 3.2 percent elsewhere. "We're pleased with this good start to our new fiscal year, especially in St. Louis," said Mary Junck, chairman and chief executive officer. "While we credit part of the growth in St. Louis to excitement surrounding the World Series, it's clear that our many revenue and other actions in St. Louis are beginning to get results." Total same property revenue increased 1.1 percent. Including the effect of acquisitions and divestitures, total advertising revenue increased 1.1 percent, and total operating revenue increased 1.4 percent. In Lee's 50 percent partnership in Tucson, Ariz., which is accounted for using the equity method and is not included in same property revenue, advertising revenue for the October statistical reporting period decreased 2.3 percent, and total revenue decreased 2.2 percent. In Lee's 50 percent partnership in Madison, Wis., which also is reported using the equity method of accounting and is not included in same property revenue, advertising revenue in October decreased 2.8 percent, and total revenue decreased 3.6 percent.

 

 

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