DAVENPORT, Iowa (AP) — Lee Enterprises Inc., publisher of the St. Louis Post-Dispatch and dozens of other newspapers, says it earned a small profit in the third quarter, helped by cost cuts and lower prices for paper.
Lee earned $1.8 million, or 4 cents per share. In the same quarter a year ago, it took heavy goodwill impairments, resulting in a loss of $192.24 million, or $4.34 per share.
Revenue dropped 20 percent to $195.8 million as advertising continued to fall. However, the company said the decline in advertising appears to be slowing down.
Lee Enterprises is based in Davenport, Iowa.
To add a comment, please register or login.