Lee Enterprises Reports Revenue Statistics for September
DAVENPORT, Iowa--(BUSINESS WIRE)--Nov. 9, 2006--Lee Enterprises, Incorporated (NYSE:LEE), reported today that same property advertising revenue declined 0.1 percent in September compared with a year ago, while online advertising revenue climbed 44.5 percent.
On a same property(1) basis, which excludes the impact of acquisitions and divestitures made in the current or prior year, retail advertising revenue decreased 2.9 percent. Classified advertising revenue increased 0.9 percent, with employment down 2.1 percent, automotive down 1.9 percent, real estate up 2.0 percent, other newspaper classified categories up 2.9 percent, and classified in non-daily publications up 9.0 percent. National advertising revenue decreased 13.3 percent. Niche publication advertising revenue increased 14.2 percent. Circulation revenue increased 2.8 percent.
Total same property revenue decreased 0.2 percent. Including the effect of acquisitions and divestitures, total advertising revenue decreased 1.0 percent, and total operating revenue decreased 0.5 percent.
In Lee's 50 percent partnership in Madison, Wisconsin, which is reported using the equity method of accounting and is not included in same property revenue, advertising revenue in September decreased 1.0 percent, and total revenue decreased 2.9 percent.
PULITZER
Lee acquired Pulitzer Inc. in June 2005, and Pulitzer revenue is reported in statistical periods. For the statistical reporting period ended Sept. 24, 2006, Pulitzer advertising revenue decreased 2.7 percent compared with 2005, with total revenue down 2.2 percent. In St. Louis, advertising revenue decreased 6.5 percent, and total revenue decreased 5.5 percent. In the other former Pulitzer newspapers, advertising revenue increased 6.2 percent, and total revenue increased 5.7 percent.
In the 50 percent partnership in Tucson, which is accounted for using the equity method and is not included in the Pulitzer revenue described above, advertising revenue for the September statistical reporting period increased 1.3 percent, and total revenue increased 0.8 percent.
Revenue tables for September, year to date and quarter follow.
Lee Enterprises is a premier publisher 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 reach more than two million users, and Lee's weekly publications have distribution of more than 4.5 million households. Lee's 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
September Fiscal Year
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(Thousands) 2006 2005 % 2006 2005 %
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Advertising
revenue:
Retail..........$23,153 $23,843 (2.9)% $285,982 $284,551 0.5%
National........ 1,636 1,888 (13.3) 20,805 22,426 (7.2)
Classified:
Daily
newspapers:
Employment.... 4,521 4,618 (2.1) 55,490 51,830 7.1
Automotive.... 3,075 3,135 (1.9) 35,165 39,153 (10.2)
Real estate... 3,366 3,300 2.0 38,908 38,399 1.3
All other..... 2,257 2,193 2.9 24,723 24,294 1.8
Other
publications.. 2,045 1,877 9.0 20,790 19,493 6.7
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Total classified
revenue......... 15,264 15,123 0.9 175,076 173,169 1.1
Online.......... 1,890 1,308 44.5 19,459 13,596 43.1
Niche
publications... 1,508 1,321 14.2 12,858 11,879 8.2
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Total advertising
revenue......... 43,451 43,483 (0.1) 514,180 505,621 1.7
Circulation...... 10,566 10,279 2.8 126,401 127,631 (1.0)
Commercial
printing........ 1,066 1,062 0.4 13,400 13,355 0.3
Online services
and other....... 1,685 2,052 (17.9) 24,326 24,640 (1.3)
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Total same
property revenue 56,768 56,876 (0.2) 678,307 671,247 1.1
Acquisitions &
divestitures.... 34,849 35,233 (1.1) 450,341 147,643 205.0
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Total operating
revenue.........$91,617 $92,109 (0.5)% $1,128,648 $818,890 37.8 %
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DAILY NEWSPAPER ADVERTISING VOLUME
September Fiscal Year
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(Thousands of
Inches) 2006 2005 % 2006 2005 %
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Retail........... 890 908 (2.0)% 10,633 10,741 (1.0)%
National......... 40 45 (11.1) 492 580 (15.2)
Classified....... 1,050 1,042 0.8 11,917 11,976 (0.5)
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Total, same
property........ 1,980 1,995 (0.8)% 23,042 23,297 (1.1)%
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LEE ENTERPRISES, INCORPORATED
Revenue and Statistical Summary
(Unaudited)
OPERATING REVENUE
Three Months Ended September 30
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(Thousands) 2006 2005 %
----------------------------------------------------------------------
Advertising revenue:
Retail.............................. $68,459 $69,275 (1.2)%
National............................ 4,408 5,251 (16.1)
Classified:
Daily newspapers:
Employment........................ 14,739 14,791 (0.4)
Automotive........................ 9,480 9,910 (4.3)
Real estate....................... 10,475 10,364 1.1
All other......................... 6,450 6,464 (0.2)
Other publications................ 5,728 5,188 10.4
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Total classified revenue............ 46,872 46,717 0.3
Online.............................. 5,732 3,925 46.0
Niche publications.................. 3,315 2,999 10.5
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Total advertising revenue............. 128,786 128,167 0.5
Circulation........................... 32,077 31,980 0.3
Commercial printing................... 3,294 2,942 12.0
Online services and other............. 5,521 5,782 (4.5)
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Total same property revenue........... 169,678 168,871 0.5
Acquisitions & divestitures........... 109,991 110,309 (0.3)
Total operating revenue............... $279,669 279,180 0.2 %
DAILY NEWSPAPER ADVERTISING VOLUME
Three Months Ended September 30
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(Thousands of Inches) 2006 2005 %
----------------------------------------------------------------------
Retail................................ 2,638 2,628 0.4 %
National.............................. 104 129 (19.4)
Classified............................ 3,239 3,203 1.1
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Total, same property.................. 5,981 5,960 0.4 %
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NOTES:
(1) Same property comparisons exclude acquisitions (including
Pulitzer) and divestitures made in the current and prior year. Same
property revenue also excludes revenue of Madison Newspapers, Inc.,
in which Lee owns a 50% share. It is reported using the equity method
of accounting. Same property comparisons also exclude corporate
office costs.
(2) September had one more Saturday and one fewer Thursday than the
prior period. The quarter and year to date had one more Saturday and
one fewer Friday.
(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 2006 fiscal year ended 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.
CONTACT: Lee Enterprises Dan Hayes, 563-383-2100 dan.hayes@lee.net, SOURCE: Lee Enterprises