Lee Enterprises Reports Revenue Statistics for June
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 decreased 3.5 percent in June and 0.5 percent year to date compared with a year ago. Combined print and online classified advertising revenue decreased 3.1 percent and 0.7 percent year to date, with employment up 4.2 percent for the month and up 6.1 percent year to date, automotive down 9.9 percent for the month and down 5.2 percent year to date, and real estate down 6.9 percent for the month and down 5.4 percent year to date. Combined print and online national advertising revenue was down 16.9 percent for the month and down 6.2 percent year to date. Circulation revenue declined 3.0 percent for the month and 1.2 percent year to date.
Total same property operating revenue in June declined 4.1 percent compared with a year ago. Including the effect of acquisitions and divestitures, total operating revenue declined 4.1 for the month and 0.6 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
June Year to Date
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(Thousands) 2007 2006 % 2007 2006 %
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Advertising revenue:
Retail $ 34,730 $ 36,609 (5.1)% $346,433 $353,496 (2.0)%
National 3,636 4,377 (16.9) 42,828 45,641 (6.2)
Classified:
Daily newspapers:
Employment 6,441 7,528 (14.4) 60,992 66,859 (8.8)
Automotive 4,499 5,263 (14.5) 41,190 44,750 (8.0)
Real estate 5,092 5,354 (4.9) 43,856 46,854 (6.4)
All other 3,617 3,532 2.4 28,903 29,105 (0.7)
Other publications 4,054 4,264 (4.9) 35,594 33,746 5.5
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Total classified
revenue 23,703 25,941 (8.6) 210,535 221,314 (4.9)
Online 5,204 3,270 59.1 39,708 25,370 56.5
Niche publications 1,378 1,474 (6.5) 12,234 12,301 (0.5)
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Total advertising
revenue 68,651 71,671 (4.2) 651,738 658,122 (1.0)
Circulation 15,734 16,219 (3.0) 152,259 154,107 (1.2)
Commercial printing 1,259 1,353 (6.9) 12,441 12,809 (2.9)
Online services and
other 2,193 2,372 (7.5) 24,140 22,131 9.1
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Total same property
revenue 87,837 91,615 (4.1) 840,578 847,169 (0.8)
Acquisitions &
divestitures 313 341 NM 2,947 1,810 NM
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Total operating
revenue $ 88,150 $ 91,956 (4.1)% $843,525 $848,979 (0.6)%
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SELECTED COMBINED PRINT AND ONLINE ADVERTISING REVENUE
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June Year to Date
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(Thousands, Same
Property) 2007 2006 % 2007 2006 %
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Retail $ 34,855 $ 36,127 (3.5)% $346,598 $348,288 (0.5)%
National 3,636 4,377 (16.9) 42,828 45,641 (6.2)
Classified:
Employment $ 9,734 $ 9,345 4.2 % $ 85,439 $ 80,534 6.1 %
Automotive 6,070 6,737 (9.9) 54,099 57,069 (5.2)
Real estate 6,582 7,068 (6.9) 56,540 59,753 (5.4)
Other 6,396 6,543 (2.2) 54,000 54,536 (1.0)
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Total classified
revenue $ 28,782 $ 29,693 (3.1)% $250,078 $251,892 (0.7)%
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REVENUE BY REGION
June Year to Date
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(Thousands, Same
Property) 2007 2006 % 2007 2006 %
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Midwest $ 52,933 $ 55,487 (4.6)% $515,930 $524,315 (1.6)%
Mountain West 16,455 17,011 (3.3) 150,315 147,084 2.2
West 11,891 12,928 (8.0) 110,851 114,248 (3.0)
East/other 6,558 6,189 6.0 63,482 61,522 3.2
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Total $ 87,837 $ 91,615 (4.1)% $840,578 $847,169 (0.8)%
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DAILY NEWSPAPER ADVERTISING VOLUME
June Year to Date
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(Thousands of
inches, same
property) 2007 2006 % 2007 2006 %
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Retail 1,057 1,145 (7.7)% 10,068 10,324 (2.5)%
National 52 59(11.9) 529 616 (14.1)
Classified 1,384 1,459 (5.1) 11,799 12,272 (3.9)
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Total 2,493 2,663 (6.4)% 22,396 23,212 (3.5)%
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LEE ENTERPRISES, INCORPORATED
Revenue and Statistical Summary
(Unaudited)
OPERATING REVENUE
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Three Months Ended June 30
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(Thousands) 2007 2006 %
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Advertising revenue:
Retail $ 112,553 $ 117,987 (4.6)%
National 11,975 13,862 (13.6)
Classified:
Daily newspapers:
Employment 21,275 23,994 (11.3)
Automotive 14,008 15,964 (12.3)
Real estate 15,104 16,506 (8.5)
All other 10,842 10,813 0.3
Other publications 12,584 12,354 1.9
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Total classified revenue 73,813 79,631 (7.3)
Online 16,200 10,051 61.2
Niche publications 4,317 4,412 (2.2)
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Total advertising revenue 218,858 225,943 (3.1)
Circulation 49,902 51,626 (3.3)
Commercial printing 4,309 4,501 (4.3)
Online services and other 7,353 7,239 1.6
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Total same property revenue 280,422 289,309 (3.1)
Acquisitions & divestitures 953 1,235 NM
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Total operating revenue $ 281,375 $ 290,544 (3.2)%
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SELECTED COMBINED PRINT AND ONLINE ADVERTISING REVENUE
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Three Months Ended June 30
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(Thousands, Same Property) 2007 2006 %
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Retail $ 113,003 $ 116,227 (2.8)%
National 11,975 13,861 (13.6)
Classified:
Employment $ 31,956 $ 29,701 7.6 %
Automotive 18,533 $ 20,393 (9.1)
Real estate 19,423 $ 21,190 (8.3)
Other 19,650 $ 20,158 (2.5)
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Total classified revenue $ 89,562 $ 91,442 (2.1)%
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REVENUE BY REGION
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Three Months Ended June 30
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(Thousands of Inches Same Property) 2007 2006 %
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Midwest $ 170,993 $ 177,736 (3.8)%
Mountain West 51,833 51,798 0.1
West 37,132 40,099 (7.4)
East/other 20,464 19,676 4.0
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Total $ 280,422 $ 289,309 (3.1)%
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DAILY NEWSPAPER ADVERTISING VOLUME
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Three Months Ended June 30
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(Thousands) 2007 2006 %
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Retail 3,323 3,539 (6.1)%
National 163 193 (15.5)
Classified 4,184 4,408 (5.1)
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Total 7,670 8,140 (5.8)%
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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 Saturday and one fewer Thursday than the
prior period. There were no day exchanges in the quarter and
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, 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.
SOURCE:
Lee Enterprises, Incorporated
Lee Enterprises, Incorporated
Dan Hayes, 563-383-2100
dan.hayes@lee.net