Lee Enterprises Advertising Revenue Rises 3.2% in June
DAVENPORT, Iowa--(BUSINESS WIRE)--July 20, 2006--Lee Enterprises, Incorporated (NYSE:LEE), reported today that same property advertising revenue in June increased 3.2 percent over a year ago.
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 0.5 percent. Classified advertising revenue increased 2.5 percent, with employment up 4.7 percent, automotive down 5.3 percent, real estate down 0.1 percent, other newspaper classified categories up 2.2 percent, and classified in non-daily publications up 10.6 percent. National advertising revenue decreased 2.5 percent. Online advertising revenue increased 49.1 percent. Niche publication advertising revenue increased 30.3 percent. Circulation revenue decreased 0.3 percent.
Total same property revenue increased 1.9 percent. Including the effect of acquisitions and divestitures, total advertising revenue also increased 1.9 percent, and total operating revenue increased 0.9 percent.
In Lee's 50 percent partnership in Madison, Wisconsin, which is reported using the equity method of accounting and is not included in the revenue described above, advertising revenue in June decreased 0.3 percent, and total revenue decreased 1.3 percent.
PULITZER RESULTS
Lee acquired Pulitzer Inc. in June 2005, and Pulitzer revenue is reported in statistical periods. For the statistical reporting period ended June 25, 2006, Pulitzer advertising revenue decreased 0.2 percent compared with 2005, with total revenue down 1.7 percent. In St. Louis, advertising revenue decreased 1.5 percent, and total revenue decreased 3.2 percent. In the other former Pulitzer newspapers, advertising revenue increased 2.7 percent, and total revenue increased 2.0 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 June statistical reporting period rose 3.5 percent, and total revenue increased 2.2 percent.
Lee Enterprises is a premier publisher of local news, information and advertising in primarily midsize markets, with 52 daily newspapers and a joint interest in six others, rapidly growing online sites 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. Lee's online sites reach more than two million users, and Lee's weekly publications have distribution of more than 4.5 million households. Lee's newspapers include such markets as Napa, Calif.; Bloomington, Ill.; Billings, Mont.; 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
June Fiscal Year to Date
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(Thousands) 2006 2005 % 2006 2005 %
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Advertising
revenue:
Retail............$24,300 $24,186 0.5 % $228,599 $227,130 0.6 %
National.......... 1,542 1,581 (2.5) 16,443 17,206 (4.4)
Classified:
Daily newspapers:
Employment...... 4,738 4,527 4.7 40,751 37,039 10.0
Automotive...... 3,125 3,301 (5.3) 25,685 29,243 (12.2)
Real estate..... 3,304 3,307 (0.1) 28,433 28,035 1.4
All other....... 2,352 2,301 2.2 18,273 17,830 2.5
Other
publications.... 3,515 3,178 10.6 25,573 25,869 (1.1)
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Total classified
revenue.......... 17,034 16,614 2.5 138,715 138,016 0.5
Online............ 1,952 1,309 49.1 14,773 10,623 39.1
Niche publications 1,216 933 30.3 9,864 8,961 10.1
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Total advertising
revenue........... 46,044 44,623 3.2 408,394 401,936 1.6
Circulation........ 10,313 10,343 (0.3) 94,687 96,044 (1.4)
Commercial printing 1,660 1,660 - 15,152 15,685 (3.4)
Online services and
other............. 2,073 2,324 (10.8) 19,612 19,708 (0.5)
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Total same property
revenue........... 60,090 58,950 1.9 537,845 533,373 0.8
Acquisitions &
divestitures...... 35,294 35,558 NM 341,662 37,261 NM
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Total operating
revenue...........$95,384 $94,508 0.9 % $879,507 $570,634 54.1 %
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DAILY NEWSPAPER ADVERTISING VOLUME
June Fiscal Year to Date
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(Thousands of
Inches) 2006 2005 % 2006 2005 %
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Retail............. 904 869 4.0 % 7,994 8,114 (1.5)%
National........... 39 48 (18.8) 388 451 (14.0)
Classified......... 1,051 1,056 (0.5) 8,677 8,774 (1.1)
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Total, same
property.......... 1,994 1,973 1.1 % 17,059 17,339 (1.6)%
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LEE ENTERPRISES, INCORPORATED
Revenue and Statistical Summary
(Unaudited)
OPERATING REVENUE
Three Months Ended June 30
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(Thousands) 2006 2005 %
----------------------------------------------------------------------
Advertising revenue:
Retail................................. $76,278 $75,622 0.9 %
National............................... 4,554 4,952 (8.0)
Classified:
Daily newspapers:
Employment......................... 14,756 13,955 5.7
Automotive......................... 9,167 10,147 (9.7)
Real estate........................ 9,896 10,060 (1.6)
All other.......................... 6,894 6,682 3.2
Other publications................... 9,272 9,323 (0.5)
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Total classified revenue............... 49,985 50,167 (0.4)
Online................................. 5,840 4,047 44.3
Niche publications..................... 3,642 3,044 19.6
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Total advertising revenue................ 140,299 137,832 1.8
Circulation.............................. 32,022 31,894 0.4
Commercial printing...................... 5,321 5,184 2.6
Online services and other................ 6,554 6,863 (4.5)
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Total same property
revenue................................. 184,196 181,773 1.3
Acquisitions &
divestitures............................ 116,903 36,082 NM
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Total operating revenue 301,099 217,855 38.2 %
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DAILY NEWSPAPER ADVERTISING VOLUME
Three Months Ended June 30
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(Thousands of Inches) 2006 2005 %
----------------------------------------------------------------------
Retail................................... 2,742 2,687 2.0 %
National................................. 124 150 (17.3)
Classified............................... 3,127 3,143 (0.5)
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Total, same property..................... 5,993 5,980 0.2 %
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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., in which Lee owns a
50% share. It is reported using the equity method of accounting.
(2) June had one more Friday and one fewer Wednesday than the prior
period. There were no day exchanges in the quarter or the year to
date.
(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