Lee Enterprises Reports March Revenue Statistics
Year to date, total same property advertising revenue was up 0.2 percent.
On a same property basis, which excludes the impact of acquisitions and divestitures made in the current or prior year, combined print and online retail advertising in March decreased 1.1 percent compared with a year ago, and combined print and online classified advertising revenue decreased 0.9 percent. National advertising revenue decreased 7.1 percent. Print-only retail advertising revenue decreased 2.3 percent, and print-only classified revenue decreased 6.6 percent, with employment down 9.7 percent, automotive down 9.6 percent, real estate down 5.3 percent, other newspaper classified categories down 6.5 percent, and classified in non-daily publications up 1.1 percent. Circulation revenue decreased 0.5 percent. Total same property revenue decreased 1.1 percent.
In St. Louis, advertising revenue decreased 2.1 percent for the March statistical period. At the other former Pulitzer newspapers, advertising revenue declined 3.4 percent.
Including the effect of acquisitions and divestitures, advertising revenue also decreased 1.2 percent, while total operating revenue decreased 1.3 percent.
At Lee's 50 percent subsidiary in Madison, Wis., advertising revenue in March decreased 2.6 percent. In Lee's 50 percent partnership in Tucson, Ariz., advertising revenue for the March statistical period decreased 4.5 percent. Madison and Tucson are reported using the equity method of accounting and are not included in same property revenue.
Lee Enterprises is a premier provider of local news, information and advertising in primarily midsize markets, with 51 daily newspapers and a joint interest in five others, rapidly growing online sites and more than 300 weekly newspapers and specialty publications in 23 states. Lee's newspapers have circulation of 1.6 million daily and 1.9 million Sunday, reaching more than four million readers daily. Lee's online sites attract more than 11 million visits monthly, and Lee's weekly publications are distributed to more than 4.5 million households. Lee's 55 newspaper markets include St. Louis, Mo.; Lincoln, Neb.; Madison, Wis.; Davenport, Iowa; Billings, Mont.; Bloomington, Ill.; Tucson, Ariz.; and Napa, Calif. 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
March Year to Date
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(Thousands) 2007 2006 % 2007 2006 %
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Advertising
revenue:
Retail $35,618 $36,464 (2.3)% $233,880 $235,509 (0.7)%
National 4,111 4,427 (7.1) 30,853 31,779 (2.9)
Classified:
Daily
newspapers:
Employment 6,956 7,700 (9.7) 39,717 42,865 (7.3)
Automotive 4,534 5,013 (9.6) 27,182 28,786 (5.6)
Real estate 4,848 5,120 (5.3) 28,752 30,348 (5.3)
All other 3,040 3,252 (6.5) 18,061 18,292 (1.3)
Other
publications 4,185 4,139 1.1 23,010 21,392 7.6
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Total
classified
revenue 23,563 25,224 (6.6) 136,722 141,683 (3.5)
Online 4,773 2,905 64.3 23,508 15,319 53.5
Niche
publications 1,609 1,505 6.9 7,917 7,889 0.4
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Total
advertising
revenue 69,674 70,525 (1.2) 432,880 432,179 0.2
Circulation 16,523 16,602 (0.5) 102,357 102,481 (0.1)
Commercial
printing 1,493 1,594 (6.3) 8,132 8,308 (2.1)
Online services
and other 2,908 2,925 (0.6) 16,787 14,892 12.7
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Total same
property
revenue 90,598 91,646 (1.1) 560,156 557,860 0.4
Acquisitions &
divestitures 298 413 NM 1,994 575 NM
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Total operating
revenue $90,896 $92,059 (1.3)% $562,150 $558,435 0.7 %
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SAME PROPERTY REVENUE BY REGION
March Year to Date
----------------------------------------------------------------------
(Thousands) 2007 2006 % 2007 2006 %
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Midwest 54,235 55,684 (2.6)% 344,937 346,579 (0.5)%
Mountain West 16,589 16,335 1.6 98,482 95,286 3.4
West 11,904 12,171 (2.2) 73,719 74,149 (0.6)
East/other 7,870 7,456 5.6 43,018 41,846 2.8
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Total, same
property 90,598 91,646 (1.1)% 560,156 557,860 0.4 %
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DAILY NEWSPAPER ADVERTISING VOLUME
March Year to Date
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(Thousands) 2007 2006 % 2007 2006 %
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Retail 1,070 1,087 (1.6)% 6,751 6,785 (0.5)%
National 52 63 (17.5) 366 423 (13.5)
Classified 1,233 1,369 (9.9) 7,614 7,864 (3.2)
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Total, same
property 2,355 2,519 (6.5)% 14,731 15,072 (2.3)%
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LEE ENTERPRISES, INCORPORATED
Revenue and Statistical Summary
(Unaudited)
OPERATING REVENUE
----------------------------------------------------------------------
Three Months Ended March 31
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(Thousands) 2007 2006 %
----------------------------------------------------------------------
Advertising revenue:
Retail $101,273 $104,163 (2.8)%
National 12,951 14,120 (8.3)
Classified:
Daily newspapers:
Employment 20,424 22,738 (10.2)
Automotive 13,144 14,574 (9.8)
Real estate 13,861 14,961 (7.4)
All other 8,604 9,151 (6.0)
Other publications 11,607 10,913 6.4
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Total classified revenue 67,640 72,337 (6.5)
Online 12,595 8,185 53.9
Niche publications 4,318 4,475 (3.5)
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Total advertising revenue 198,777 203,280 (2.2)
Circulation 50,103 50,894 (1.6)
Commercial printing 3,922 4,068 (3.6)
Online services and other 7,941 7,453 6.5
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Total same property operating revenue 260,743 265,695 (1.9)
Acquisitions & divestitures 917 495 NM
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Total operating revenue 261,660 266,190 (1.7)%
======================================================================
SAME PROPERTY REVENUE BY REGION
Three Months Ended March 31
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(Thousands) 2007 2006 %
----------------------------------------------------------------------
Midwest 159,381 164,084 (2.9)%
Mountain West 45,940 45,506 1.0
West 34,228 35,559 (3.7)
East/other 21,194 20,546 3.2
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Total, same property 260,743 265,695 (1.9)%
======================================================================
DAILY NEWSPAPER ADVERTISING VOLUME
Three Months Ended March 31
----------------------------------------------------------------------
(Thousands of Inches) 2007 2006 %
----------------------------------------------------------------------
Retail 3,020 3,031 (0.4)%
National 164 194 (15.5)
Classified 3,659 3,929 (6.9)
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Total, same property 6,843 7,154 (4.3)%
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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 Lee's 50% ownership in Madison and Tucson, which are
reported using the equity method of accounting.
(2) March had one more Saturday and one fewer Wednesday than the prior
period. The quarter had one more Saturday and one fewer Sunday
than the prior period. There were no day exchanges in the year to
date. The former Pulitzer properties use period accounting and are
not affected by day exchanges.
(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 Sept. 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.
SOURCE: Lee Enterprises, Incorporated
Lee Enterprises
Dan Hayes, 563-383-2100
dan.hayes@lee.net