Lee Enterprises Reports Revenue Statistics for August
DAVENPORT, Iowa--(BUSINESS WIRE)--Sept. 17, 2007--Lee Enterprises, Incorporated (NYSE:LEE), reported today that same property(1) advertising revenue decreased 1.3 percent in August and 1.1 percent year to date compared with a year ago. Same property online advertising revenue increased 48.0 percent in August and 56.2 percent year to date.
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 was flat in August compared with a year ago and decreased 0.4 percent year to date. Combined print and online classified advertising revenue decreased 2.7 percent for the month and 1.3 percent year to date, with employment up 3.6 percent for the month and up 5.6 percent year to date, automotive down 4.3 percent for the month and down 5.9 percent year to date, and real estate down 11.5 percent for the month and down 6.4 percent year to date. National advertising revenue declined 5.6 percent for the month and 6.2 percent year to date. Circulation revenue declined 2.2 percent for the month and 1.5 percent year to date.
Total same property operating revenue in August declined 1.4 for the month and 1.0 percent year to date compared with a year ago. Including the effect of acquisitions and divestitures, total operating revenue declined 1.5 for the month and 0.9 percent year to date.
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 1.7 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 stock is traded on the New York Stock Exchange under the symbol LEE. For more information about Lee, please visit www.lee.net.
LEE ENTERPRISES, INCORPORATED
Revenue and Statistical Summary
(Unaudited)
OPERATING REVENUE
August Year to Date
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(Thousands) 2007 2006 % 2007 2006 %
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Advertising
revenue:
Retail.......... $36,175 $36,514 (0.9)% $ 418,749 $ 426,749 (1.9)%
National........ 3,533 3,744 (5.6) 50,651 54,006 (6.2)
Classified:
Daily
newspapers:
Employment.... 6,738 7,891 (14.6) 75,086 83,265 (9.8)
Automotive.... 4,427 4,986 (11.2) 50,654 55,831 (9.3)
Real estate... 4,680 5,430 (13.8) 53,915 58,481 (7.8)
All other..... 3,523 3,359 4.9 35,891 35,911 (0.1)
Other
publications.. 4,098 3,999 2.5 44,054 41,837 5.3
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Total classified
revenue........ 23,466 25,665 (8.6) 259,600 275,325 (5.7)
Online.......... 5,332 3,602 48.0 50,615 32,402 56.2
Niche
publications... 1,166 1,097 6.3 14,721 14,756 (0.2)
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Total advertising
revenue......... 69,672 70,622 (1.3) 794,336 803,238 (1.1)
Circulation...... 16,092 16,462 (2.2) 186,122 188,940 (1.5)
Commercial
printing........ 1,515 1,471 3.0 15,297 15,567 (1.7)
Online services
and other....... 2,270 2,233 1.7 28,747 26,659 7.8
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Total same
property revenue 89,549 90,788 (1.4) 1,024,502 1,034,404 (1.0)
Acquisitions &
divestitures.... 317 434 NM 3,561 2,627 NM
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Total operating
revenue $89,866 $91,222 (1.5)% $1,028,063 $1,037,031 (0.9)%
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SELECTED COMBINED PRINT AND ONLINE ADVERTISING REVENUE
August Year to Date
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(Thousands, Same
Property) 2007 2006 % 2007 2006 %
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Retail............... $36,046 $36,052 - % $418,912 $420,389 (0.4)%
Classified:
Employment.......... $10,292 $ 9,930 3.6% $106,742 $101,088 5.6%
Automotive.......... 6,130 6,404 (4.3) 66,718 70,868 (5.9)
Real estate......... 6,145 6,943 (11.5) 69,743 74,472 (6.4)
Other............... 6,360 6,452 (1.4) 66,849 67,659 (1.2)
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Total classified
revenue............. $28,927 $29,729 (2.7)% $310,052 $314,087 (1.3)%
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REVENUE BY REGION
August Year to Date
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(Thousands, Same
Property) 2007 2006 % 2007 2006 %
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Midwest........... $53,667 $54,963 (2.4)% $ 627,634 $ 639,187 (1.8)%
Mountain West..... 17,388 17,043 2.0 184,723 180,420 2.4
West.............. 11,486 12,356 (7.0) 135,081 140,486 (3.8)
East/other........ 7,008 6,426 9.1 77,064 74,311 3.7
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Total............. $89,549 $90,788 (1.4)% $1,024,502 $1,034,404 (1.0)%
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DAILY NEWSPAPER ADVERTISING VOLUME
August Year to Date
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(Thousands of inches, same
property) 2007 2006 % 2007 2006 %
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Retail..................... 1,097 1,147 (4.4)% 12,257 12,587 (2.6)%
National................... 45 49 (8.2) 624 721 (13.5)
Classified................. 1,411 1,546 (8.7) 14,667 15,446 (5.0)
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Total...................... 2,553 2,742 (6.9)% 27,548 28,754 (4.2)%
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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 Lee's 50% ownership in Madison and Tucson, which are reported using the equity method of accounting.
(2) The month had one more Friday and one fewer Tuesday than the prior period. The year to date had one more Friday and one fewer Saturday than the prior period. 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, increased capital and other costs and other risks detailed from time to time in the Company's publicly filed documents, including the Company Annual Report on Form 10-K for the year ended September 30, 2006. 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