Lee Enterprises (LEE) Reports Q4 EPS of $0.02

Lee Enterprises (NYSE: LEE) reported Q4 adjusted EPS of $0.02, versus $0.25 reported last year. Revenue for the quarter came fell 3% to $157.65 million, versus $162.45 million reported last year.

Total digital revenue increased 24.6% from the same quarter a year ago, with the trend improving each quarter of this year. Digital advertising revenue increased 14.8% and represented 18.5% of total advertising revenue. Mobile advertising revenue increased 38.3%.

Mary Junck, chairman and chief executive officer, said: “Lee continues to drive digital revenue and audiences at an accelerating pace. Our rapid digital growth, along with our many print and new digital initiatives, positions us especially well, we believe, for a strong 2015. Our successful introduction of full access subscriptions also continues to heighten our optimism, as our unmatched local news gives us a powerful advantage in every market.”

She added: “For the fiscal year, through our business transformation initiatives, we reduced cash costs(2) 2.4% as reported, and 3.7% excluding the subscription-related expense reclassification, exceeding our previous guidance of a decrease of 3.0-3.5%. Since 2007 we have reduced cash costs by more than 37%, totaling $297 million. Additionally, we achieved our sixth consecutive year of strong and stable adjusted EBITDA(2) and unlevered free cash flow(2) and returned to profitability for the first year since 2010.”

For earnings history and earnings-related data on Lee Enterprises (LEE) click here.

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