Lee Enterprises Reports Ad Revenue Growth of 7.1% in December
DAVENPORT, Iowa--(BUSINESS WIRE)--Jan. 18, 2005--Lee Enterprises, Incorporated (NYSE:LEE), reported today that same property advertising revenue in December increased 7.1 percent over a year ago.
On a same property basis, which excludes the impact of acquisitions and divestitures made in the current or prior year, retail advertising revenue increased 3.2 percent over the previous year. Classified revenue increased 8.9 percent, with employment up 16.6 percent, automotive down 2.0 percent, real estate up 14.5 percent, other newspaper classified categories up 5.2 percent, and classified in non-daily publications up 12.9 percent. National advertising revenue, a small category for Lee, increased 45.6 percent. Niche publication advertising revenue increased 21.1 percent and online advertising revenue increased 43.6 percent.
Circulation revenue decreased 2.7 percent, reflecting promotional activities in several markets. Total same property operating revenue increased 5.5 percent. Including the impact of acquisitions and divestitures, total operating revenue increased 8.0 percent.
Tables follow.
Lee Enterprises operates 44 daily newspapers in 19 states, along with associated online services, and 200 weekly newspapers, shoppers and specialty publications. Lee stock is traded on the New York Stock Exchange under the symbol LEE. More information about Lee is available at www.lee.net.
LEE ENTERPRISES, INCORPORATED
Revenue and Statistical Summary
(Unaudited)
OPERATING REVENUE
December Year to Date
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(Thousands) 2004 2003 % 2004 2003 %
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Advertising revenue:
Retail............. $27,129 $26,298 3.2% $81,816 $79,331 3.1%
National........... 1,841 1,264 45.6 5,756 4,686 22.8
Classified:
Daily newspapers:
Employment....... 2,895 2,482 16.6 10,738 9,179 17.0
Automotive....... 3,109 3,173 (2.0) 9,859 10,047 (1.9)
Real estate...... 2,624 2,291 14.5 8,760 7,997 9.5
All other........ 1,792 1,703 5.2 5,978 5,722 4.5
Other publications 2,429 2,152 12.9 7,965 7,579 5.1
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Total classified
revenue........... 12,849 11,801 8.9 43,300 40,524 6.9
Niche publications. 888 733 21.1 2,430 2,094 16.0
Online............. 968 674 43.6 3,107 2,295 35.4
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Total advertising
revenue............ 43,675 40,770 7.1 136,409 128,930 5.8
Circulation......... 10,461 10,751 (2.7) 32,110 32,980 (2.6)
Commercial printing. 1,688 1,513 11.6 5,276 4,863 8.5
Online services and
other.............. 2,178 1,924 13.2 6,294 5,670 11.0
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Total same property
operating revenue.. 58,002 54,958 5.5 180,089 172,443 4.4
Acquisitions &
divestitures....... 1,524 176 NM 3,995 541 NM
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Total operating
revenue............ $59,526 $55,134 8.0% $184,084 $172,984 6.4%
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DAILY NEWSPAPER ADVERTISING VOLUME
December Year to Date
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(Thousands of
Inches) 2004 2003 % 2004 2003 %
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Retail.............. 977 1,012 (3.5)% 2,903 3,007 (3.5)%
National............ 48 37 29.7 150 131 14.5
Classified.......... 884 802 10.2 2,826 2,611 8.2
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Total, same property 1,909 1,851 3.1% 5,879 5,749 2.3%
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NOTES:
(1) The month had one more Thursday and Friday and one fewer Monday
and Tuesday than the prior period. The year to date had one more
Friday and one fewer Wednesday.
(2) 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.
(3) 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). Lee owns 50%
of the capital stock of MNI, which for financial reporting
purposes is reported using the equity method of accounting.
(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, 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
Dan Hayes, 563-383-2100
dan.hayes@lee.net
SOURCE: Lee Enterprises, Incorporated