Lee Enterprises Advertising Revenue Increases 2.9% in January
DAVENPORT, Iowa--(BUSINESS WIRE)--Feb. 16, 2006--Lee Enterprises, Incorporated (NYSE:LEE), reported today that same property advertising revenue in January increased 2.9 percent over a year ago. The former Pulitzer Inc. newspapers, including the St. Louis Post-Dispatch, reported advertising revenue growth totaling 2.2 percent.
On a same property(1) basis, which excludes the impact of acquisitions and divestitures made in the current or prior year, retail advertising revenue increased 2.3 percent. Classified advertising revenue increased 1.3 percent, with employment up 13.6 percent, automotive down 17.2 percent, real estate up 3.9 percent, other newspaper classified categories up 3.5 percent, and classified in non-daily publications down 1.3 percent. National advertising revenue decreased 4.9 percent. Online advertising revenue increased 35.5 percent. Niche publication advertising revenue increased 15.3 percent. Circulation revenue decreased 2.6 percent.
Total same property operating revenue increased 1.5 percent. Including the effect of acquisitions and divestitures, total advertising revenue increased 79.1 percent, and total operating revenue increased 71.9 percent, due primarily to the acquisition of Pulitzer in June 2005.
PULITZER RESULTS
Pulitzer revenue is reported in statistical periods. For the statistical reporting period ended Jan. 29, 2006, comparing the current year period to last year, which is before Lee's ownership, Pulitzer advertising revenue increased 2.2 percent, with total revenue up 1.7 percent. In St. Louis, advertising revenue increased 1.2 percent, with strong national sales, and total revenue increased 1.3 percent. In the other former Pulitzer newspapers, advertising revenue increased 4.3 percent, and total revenue increased 2.6 percent.
In the 50 percent partnership in Tucson, which is accounted for using the equity method and is not included in the Pulitzer revenue described above, advertising revenue for the January statistical reporting period rose 6.8 percent, and total revenue increased 5.0 percent.
Tables follow.
Lee Enterprises is a premier publisher of newspapers in midsize markets, with 52 dailies and a joint interest in six others, a rapidly growing online business and more than 300 weekly newspapers and specialty publications in 23 states. Lee's newspapers have circulation of 1.7 million daily and 1.9 million Sunday, reaching more than four million readers daily, and its weekly publications have distribution of more than 4.5 million households. Lee's newspapers include such diverse markets as Napa, Calif.; Bloomington, Ill.; Billings, Mont.; Escondido, Calif.; Madison, Wis.; and St. Louis, Mo. Lee is based in Davenport, Iowa, and its stock is traded on the New York Stock Exchange under the symbol LEE. For more information about Lee Enterprises, please visit www.lee.net.
LEE ENTERPRISES, INCORPORATED
Revenue and Statistical Summary
(Unaudited)
OPERATING REVENUE
January Fiscal Year to Date
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(Thousands) 2006 2005 % 2006 2005 %
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Advertising
revenue:
Retail.......... $21,610 $21,120 2.3 % $105,478 $104,400 1.0 %
National........ 1,815 1,908 (4.9) 8,500 8,457 0.5
Classified:
Daily
newspapers:
Employment... 4,720 4,154 13.6 17,041 14,936 14.1
Automotive... 2,530 3,055 (17.2) 10,893 12,918 (15.7)
Real estate.. 3,098 2,982 3.9 12,624 12,203 3.4
All other.... 1,721 1,662 3.5 7,531 7,365 2.3
Other
publications.. 2,286 2,316 (1.3) 10,391 10,703 (2.9)
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Total classified
revenue........ 14,355 14,169 1.3 58,480 58,125 0.6
Online.......... 1,444 1,066 35.5 5,606 4,190 33.8
Niche
publications... 1,554 1,348 15.3 4,132 4,011 3.0
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Total advertising
revenue......... 40,778 39,611 2.9 182,196 179,183 1.7
Circulation...... 10,867 11,159 (2.6) 42,411 43,589 (2.7)
Commercial
printing........ 1,501 1,535 (2.2) 6,527 6,914 (5.6)
Online services
and other....... 2,035 2,061 (1.3) 8,349 8,298 0.6
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Total same
property
operating
revenue......... 55,181 54,366 1.5 239,483 237,984 0.6
Acquisitions &
divestitures.... 38,586 176 NM 156,923 642 NM
----------------------------------------------------------------------
Total operating
revenue......... $93,767 $54,542 71.9 % $396,406 $238,626 66.1 %
======================================================================
DAILY NEWSPAPER ADVERTISING VOLUME
January Fiscal Year to Date
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(Thousands of
Inches) 2006 2005 % 2006 2005 %
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Retail........... 736 780 (5.6)% 3,627 3,757 (3.5)%
National......... 43 45 (4.4) 184 203 (9.4)
Classified....... 900 908 (0.9) 3,710 3,802 (2.4)
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Total, same
property........ 1,679 1,733 (3.1)% 7,521 7,762 (3.1)%
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NOTES:
(1) Same property comparisons exclude acquisitions and divestitures
made in the current and prior year. Same property revenue also
excludes revenue of Madison Newspapers, Inc. (MNI), in which Lee
owns a 50% share. It is reported using the equity method of
accounting.
(2) January had one more Tuesday and one fewer Saturday than the prior
period. The year to date had one more Tuesday and one fewer Friday
than the prior period.
(3) Certain amounts as previously reported have been reclassified to
conform with the current period presentation. The prior period has
been restated for comparative purposes, and the reclassifications
have no impact on earnings.
(4) The Company's fiscal year ends on September 30.
(5) The Company disclaims responsibility for updating information
beyond the release date.
The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. This release contains information that may be deemed forward-looking and that is based largely on the Company's current expectations and is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those anticipated. Among such risks, trends and other uncertainties are changes in advertising demand, newsprint prices, energy costs, interest rates, labor costs, legislative and regulatory rulings and other results of operations or financial conditions, difficulties in integration of acquired businesses or maintaining employee and customer relationships and increased capital and other costs. The words "may," "will," "would," "could," "believes," "expects," "anticipates," "intends," "plans," "projects," "considers" and similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements, which are made as of the date of this release. The Company does not publicly undertake to update or revise its forward-looking statements.
CONTACT:
Lee Enterprises, Incorporated, Davenport
Dan Hayes, 563-383-2100
dan.hayes@lee.net
SOURCE:
Lee Enterprises, Incorporated