Lee Enterprises Reports July Revenue Statistics
Advertising revenue decreased 1.6 percent in the comparison. Retail advertising revenue increased 1.8 percent. Classified revenue decreased 6.3 percent, with employment advertising down 19.6 percent, automotive advertising down 1.9 percent and real estate advertising down 5.6 percent. National advertising revenue, a small category for Lee, increased 2.9 percent.
Circulation revenue decreased 6.5 percent, also reflecting one fewer Sunday this year.
Online revenue, which is not affected by day exchanges, increased 21.2 percent.
Including the results of acquisitions and divestitures, total publishing revenue increased 52.6 percent.
Lee Enterprises is based in Davenport, Iowa. Lee owns 39 daily newspapers and a joint interest in six others, along with associated online services. Lee also owns more than 175 weekly newspapers, shoppers and classified and specialty publications. Its stock is traded on the New York Stock Exchange under the symbol LEE. More information about Lee Enterprises is available at www.lee.net.
The monthly and year-to-date statistical information follows.
LEE ENTERPRISES, INCORPORATED
Revenue and Statistical Summary
July 2002
(Unaudited)
Publishing Revenue -- Operating Basis (1)
July Year To Date
(Thousands) --------------------------- ---------------------------
2002 2001 % 2002 2001 %
--------- --------- ------- --------- --------- -------
(2) (2)(3) (2) (2)(3)
Advertising:
Retail........$ 14,629 $ 14,370 1.8 % $167,094 $166,436 0.4 %
National...... 823 800 2.9 10,088 10,581 (4.7)
Classified:
Daily
Newspapers:
Employment 2,729 3,396 (19.6) 25,903 34,230 (24.3)
Automotive 2,353 2,399 (1.9) 22,785 22,654 0.6
Real
Estate... 2,005 2,124 (5.6) 17,924 17,558 2.1
All Other. 1,892 1,825 3.7 17,233 16,216 6.3
Alternative
publications 1,615 1,565 3.2 16,858 16,803 0.3
--------- --------- --------- ---------
Total
Classified.. 10,594 11,309 (6.3) 100,703 107,461 (6.3)
--------- --------- --------- ---------
Total
Advertising. 26,046 26,479 (1.6) 277,885 284,478 (2.3)
Circulation.... 8,297 8,871 (6.5) 84,866 85,136 (0.3)
Online......... 681 562 21.2 6,082 4,996 21.7
Other.......... 5,325 5,443 (2.2) 59,883 62,739 (4.6)
--------- --------- --------- ---------
Total -- Same
Property
Operating
Basis....... 40,349 41,355 (2.4) 428,716 437,349 (2.0)
Equity Basis
Adjustment.... (6,865) (7,580) NM (78,748) (83,008) NM
Acquired/
Divested
Properties and
Other......... 18,927 567 NM 76,175 9,082 NM
--------- --------- --------- ---------
Total
Publishing
Revenue.....$ 52,411 $ 34,342 52.6 $426,143 $363,423 17.3
========= ========= ========= =========
Daily Newspaper Advertising -- Operating Basis (1)
July Year To Date
------------------------- -------------------------
(Thousands of
Inches) 2002 2001 % 2002 2001 %
------- ------- ------ ------- ------- ------
(2) (2)(3) (2) (2)(3)
Retail......... 560 557 0.5 % 6,060 6,167 (1.7)%
National....... 26 26 - 319 338 (5.6)
Classified..... 595 596 (0.2) 5,532 5,499 0.6
------- ------- ------- -------
Total, Same
Property
Operating
Basis....... 1,181 1,179 0.2 11,911 12,004 (0.8)
======= ======= ======= =======
Notes to Revenue and Statistical Summary:
(1) Operating basis includes 100% of the revenue and statistical
information of Madison Newspapers, Inc. (MNI), which for financial
reporting purposes is reported using the equity method of
accounting. Lee owns 50% of the stock of MNI.
(2) The month and year to date had one more Wednesday and one fewer
Sunday than a year ago.
(3) Previously reported data has been restated for comparative
purposes to exclude divested properties that have been
reclassified to discontinued operations.
(4) The Company's fiscal year ends on September 30.
(5) The Company disclaims responsibility for updating information
beyond 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, Davenport Dan Hayes, 563/383-2163 dan.hayes@lee.net