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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Lee Enterprises Inc | NYSE:LEE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 28.50 | 0 | 01:00:00 |
|
|
|
Delaware
|
42-0823980
|
(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
|
Large accelerated filer
|
[ ]
|
Accelerated filer
|
[X]
|
|
Non-accelerated filer
|
[ ]
(Do not check if a smaller reporting company)
|
Smaller reporting company
|
[ ]
|
|
Table Of Contents
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PAGE
|
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FORWARD LOOKING STATEMENTS
|
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PART I
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FINANCIAL INFORMATION
|
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Item 1.
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Financial Statements (Unaudited)
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|
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Consolidated Balance Sheets - December 25, 2016 and September 25, 2016
|
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Consolidated Statements of Operations and Comprehensive Operations - 13 weeks ended December 25, 2016 and December 27, 2015
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Consolidated Statements of Cash Flows - 13 weeks ended December 25, 2016 and December 27, 2015
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Notes to Consolidated Financial Statements
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Item 2.
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Management's Discussion and Analysis of Financial Condition and Results of Operations
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Item 3.
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Quantitative and Qualitative Disclosures About Market Risk
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Item 4.
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Controls and Procedures
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PART II
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OTHER INFORMATION
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||
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Item 1.
|
Legal Proceedings
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|
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Item 6.
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Exhibits
|
|
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SIGNATURES
|
|
|
(Thousands of Dollars)
|
December 25
2016 |
|
September 25
2016 |
|
|
|
|
||
ASSETS
|
|
|
||
|
|
|
||
Current assets:
|
|
|
||
Cash and cash equivalents
|
20,100
|
|
16,984
|
|
Accounts receivable, net
|
56,871
|
|
51,334
|
|
Inventories
|
4,709
|
|
4,252
|
|
Other
|
4,439
|
|
4,683
|
|
Total current assets
|
86,119
|
|
77,253
|
|
Investments:
|
|
|
||
Associated companies
|
30,172
|
|
29,716
|
|
Other
|
10,309
|
|
9,488
|
|
Total investments
|
40,481
|
|
39,204
|
|
Property and equipment:
|
|
|
||
Land and improvements
|
20,973
|
|
21,028
|
|
Buildings and improvements
|
173,555
|
|
174,164
|
|
Equipment
|
279,139
|
|
279,770
|
|
Construction in process
|
1,316
|
|
823
|
|
|
474,983
|
|
475,785
|
|
Less accumulated depreciation
|
349,890
|
|
347,223
|
|
Property and equipment, net
|
125,093
|
|
128,562
|
|
Goodwill
|
243,729
|
|
243,729
|
|
Other intangible assets, net
|
152,075
|
|
158,354
|
|
Medical plan assets, net
|
14,439
|
|
14,063
|
|
Other
|
1,637
|
|
1,690
|
|
|
|
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||
|
|
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||
|
|
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||
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|
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||
|
|
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||
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||
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|
||
Total assets
|
663,573
|
|
662,855
|
|
(Thousands of Dollars and Shares, Except Per Share Data)
|
December 25
2016 |
|
September 25
2016 |
|
|
|
|
||
LIABILITIES AND EQUITY
|
|
|
||
|
|
|
||
Current liabilities:
|
|
|
||
Current maturities of long-term debt
|
25,000
|
|
25,070
|
|
Accounts payable
|
16,840
|
|
18,143
|
|
Compensation and other accrued liabilities
|
19,368
|
|
23,884
|
|
Accrued interest
|
11,797
|
|
2,895
|
|
Income taxes payable
|
657
|
|
665
|
|
Unearned revenue
|
27,866
|
|
28,361
|
|
Total current liabilities
|
101,528
|
|
99,018
|
|
Long-term debt, net of current maturities
|
549,044
|
|
565,826
|
|
Pension obligations
|
54,531
|
|
55,148
|
|
Postretirement and postemployment benefit obligations
|
10,704
|
|
10,717
|
|
Deferred income taxes
|
43,766
|
|
38,308
|
|
Income taxes payable
|
5,500
|
|
5,016
|
|
Warrants and other
|
13,608
|
|
16,363
|
|
Total liabilities
|
778,681
|
|
790,396
|
|
Equity (deficit):
|
|
|
||
Stockholders' equity (deficit):
|
|
|
||
Serial convertible preferred stock, no par value; authorized 500 shares; none issued
|
—
|
|
—
|
|
Common Stock, $0.01 par value; authorized 120,000 shares; issued and outstanding:
|
566
|
|
558
|
|
December 25, 2016: 56,574 shares;
|
|
|
||
September 25, 2016: 55,771 shares
|
|
|
||
Class B Common Stock, $2 par value; authorized 30,000 shares; none issued
|
—
|
|
—
|
|
Additional paid-in capital
|
249,928
|
|
249,740
|
|
Accumulated deficit
|
(343,832
|
)
|
(356,005
|
)
|
Accumulated other comprehensive loss
|
(22,724
|
)
|
(22,778
|
)
|
Total stockholders' deficit
|
(116,062
|
)
|
(128,485
|
)
|
Non-controlling interests
|
954
|
|
944
|
|
Total deficit
|
(115,108
|
)
|
(127,541
|
)
|
Total liabilities and deficit
|
663,573
|
|
662,855
|
|
|
13 Weeks Ended
|
|
||
(Thousands of Dollars, Except Per Common Share Data)
|
December 25
2016 |
|
December 27
2015 |
|
|
|
|
||
Operating revenue:
|
|
|
||
Advertising and marketing services
|
93,035
|
|
105,637
|
|
Subscription
|
48,888
|
|
50,430
|
|
Other
|
12,066
|
|
12,338
|
|
Total operating revenue
|
153,989
|
|
168,405
|
|
Operating expenses:
|
|
|
||
Compensation
|
55,056
|
|
58,665
|
|
Newsprint and ink
|
6,893
|
|
6,685
|
|
Other operating expenses
|
52,777
|
|
58,869
|
|
Depreciation
|
4,071
|
|
4,327
|
|
Amortization of intangible assets
|
6,309
|
|
6,616
|
|
Loss (gain) on sales of assets, net
|
68
|
|
(971
|
)
|
Workforce adjustments
|
65
|
|
604
|
|
Total operating expenses
|
125,239
|
|
134,795
|
|
Equity in earnings of associated companies
|
2,689
|
|
2,799
|
|
Operating income
|
31,439
|
|
36,409
|
|
Non-operating income (expense):
|
|
|
||
Financial income
|
75
|
|
76
|
|
Interest expense
|
(14,952
|
)
|
(17,142
|
)
|
Debt financing and administrative costs
|
(951
|
)
|
(1,333
|
)
|
Other, net
|
3,095
|
|
645
|
|
Total non-operating expense, net
|
(12,733
|
)
|
(17,754
|
)
|
Income before income taxes
|
18,706
|
|
18,655
|
|
Income tax expense
|
6,266
|
|
7,147
|
|
Net income
|
12,440
|
|
11,508
|
|
Net income attributable to non-controlling interests
|
(267
|
)
|
(271
|
)
|
Income attributable to Lee Enterprises, Incorporated
|
12,173
|
|
11,237
|
|
Other comprehensive income (loss), net of income taxes
|
55
|
|
(43
|
)
|
Comprehensive income attributable to Lee Enterprises, Incorporated
|
12,228
|
|
11,194
|
|
Earnings per common share:
|
|
|
||
Basic:
|
0.23
|
|
0.21
|
|
Diluted:
|
0.22
|
|
0.21
|
|
|
13 Weeks Ended
|
|
||
(Thousands of Dollars)
|
December 25
2016 |
|
December 27
2015 |
|
|
|
|
||
Cash provided by operating activities:
|
|
|
||
Net income
|
12,440
|
|
11,508
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
||
Depreciation and amortization
|
10,380
|
|
10,943
|
|
Net (gain) loss on sales of assets
|
68
|
|
(971
|
)
|
Stock compensation expense
|
524
|
|
570
|
|
Distributions greater than earnings of MNI
|
114
|
|
567
|
|
Deferred income tax expense
|
5,420
|
|
6,572
|
|
Debt financing and administrative costs
|
951
|
|
1,333
|
|
Gain on extinguishment of debt
|
—
|
|
(525
|
)
|
Pension contributions
|
—
|
|
(744
|
)
|
Changes in operating assets and liabilities:
|
|
|
||
Increase in receivables
|
(5,537
|
)
|
(7,681
|
)
|
Increase in inventories and other
|
(212
|
)
|
(291
|
)
|
Increase in accounts payable, compensation and other accrued liabilities and unearned revenue
|
2,553
|
|
162
|
|
Decrease in pension, postretirement and postemployment benefit obligations
|
(913
|
)
|
(1,565
|
)
|
Change in income taxes receivable or payable
|
476
|
|
588
|
|
Other, net
|
(3,376
|
)
|
603
|
|
Net cash provided by operating activities
|
22,888
|
|
21,069
|
|
Cash provided by (required for) investing activities:
|
|
|
||
Purchases of property and equipment
|
(1,090
|
)
|
(1,470
|
)
|
Proceeds from sales of assets
|
450
|
|
2,614
|
|
Distributions greater than earnings of TNI
|
(570
|
)
|
(137
|
)
|
Other, net
|
(488
|
)
|
—
|
|
Net cash provided by (required for) investing activities
|
(1,698
|
)
|
1,007
|
|
Cash provided by (required for) financing activities:
|
|
|
||
Proceeds from long-term debt
|
—
|
|
5,000
|
|
Payments on long-term debt
|
(17,750
|
)
|
(26,351
|
)
|
Debt financing costs paid
|
—
|
|
(44
|
)
|
Common stock transactions, net
|
(324
|
)
|
(2
|
)
|
Net cash required for financing activities
|
(18,074
|
)
|
(21,397
|
)
|
Net increase in cash and cash equivalents
|
3,116
|
|
679
|
|
Cash and cash equivalents:
|
|
|
||
Beginning of period
|
16,984
|
|
11,134
|
|
End of period
|
20,100
|
|
11,813
|
|
1
|
BASIS OF PRESENTATION
|
|
13 Weeks Ended
|
|
||
(Thousands of Dollars)
|
December 25
2016 |
|
December 27
2015 |
|
|
|
|
||
Operating revenue
|
13,314
|
|
14,782
|
|
Operating expenses
|
9,999
|
|
11,341
|
|
Operating income
|
3,315
|
|
3,441
|
|
Company's 50% share of operating income
|
1,658
|
|
1,721
|
|
Less amortization of intangible assets
|
105
|
|
105
|
|
Equity in earnings of TNI
|
1,553
|
|
1,616
|
|
|
13 Weeks Ended
|
|
||
(Thousands of Dollars)
|
December 25
2016 |
|
December 27
2015 |
|
|
|
|
||
Operating revenue
|
17,042
|
|
17,789
|
|
Operating expenses, excluding workforce adjustments, depreciation and amortization
|
13,405
|
|
13,612
|
|
Depreciation and amortization
|
349
|
|
410
|
|
Operating income
|
3,288
|
|
3,767
|
|
Net income
|
2,272
|
|
2,358
|
|
Equity in earnings of MNI
|
1,136
|
|
1,183
|
|
3
|
GOODWILL AND OTHER INTANGIBLE ASSETS
|
|
13 Weeks Ended
|
|
(Thousands of Dollars)
|
December 25
2016 |
|
|
|
|
Goodwill, gross amount
|
1,532,458
|
|
Accumulated impairment losses
|
(1,288,729
|
)
|
Goodwill, beginning of period
|
243,729
|
|
Goodwill, end of period
|
243,729
|
|
(Thousands of Dollars)
|
December 25
2016 |
|
September 25
2016 |
|
|
|
|
||
Nonamortized intangible assets:
|
|
|
||
Mastheads
|
23,644
|
|
23,644
|
|
Amortizable intangible assets:
|
|
|
||
Customer and newspaper subscriber lists
|
687,212
|
|
687,182
|
|
Less accumulated amortization
|
558,781
|
|
552,472
|
|
|
128,431
|
|
134,710
|
|
Noncompete and consulting agreements
|
28,524
|
|
28,524
|
|
Less accumulated amortization
|
28,524
|
|
28,524
|
|
|
—
|
|
—
|
|
Other intangible assets, net
|
152,075
|
|
158,354
|
|
4
|
DEBT
|
•
|
$400,000,000
aggregate principal amount of
9.5%
Senior Secured Notes (the “Notes”), pursuant to an Indenture dated as of March 31, 2014 (the “Indenture”).
|
•
|
$250,000,000
first lien term loan (the "1
st
Lien Term Loan") and
$40,000,000
revolving facility (the "Revolving Facility") under a First Lien Credit Agreement dated as of March 31, 2014 (together the “1
st
Lien Credit Facility”).
|
•
|
$150,000,000
second lien term loan under a Second Lien Loan Agreement dated as of March 31, 2014 (the “2
nd
Lien Term Loan”).
|
|
|
|
Interest Rates
(%)
|
||
(Thousands of Dollars)
|
December 25
2016 |
|
September 26
2016 |
|
December 25
2016 |
|
|
|
|
||
Revolving Facility
|
—
|
|
—
|
|
5.65
|
1
st
Lien Term Loan
|
83,984
|
|
101,304
|
|
7.25
|
Notes
|
385,000
|
|
385,000
|
|
9.50
|
2
nd
Lien Term Loan
|
130,433
|
|
130,863
|
|
12.00
|
|
599,417
|
|
617,167
|
|
|
Unamortized debt issue costs
|
(25,373
|
)
|
(26,271
|
)
|
|
Less current maturities of long-term debt
|
25,000
|
|
25,070
|
|
|
Total long-term debt
|
549,044
|
|
565,826
|
|
|
Period Beginning
|
Percentage of Principal Amount
|
|
|
March 15, 2018
|
104.75
|
March 15, 2019
|
102.38
|
March 15, 2020
|
100.00
|
|
13 Weeks Ended
|
13 Weeks Ending
|
|
|||||
(Thousands of Dollars)
|
December 25
2016 |
|
March 26
2017 |
|
June 25
2017 |
|
September 24
2017 |
|
|
|
|
|
|
||||
Mandatory
|
6,250
|
|
6,250
|
|
6,250
|
|
6,250
|
|
Voluntary
|
11,000
|
|
—
|
|
—
|
|
—
|
|
Excess cash flow payment
|
70
|
|
—
|
|
—
|
|
—
|
|
|
17,320
|
|
6,250
|
|
6,250
|
|
6,250
|
|
For the Period Ending
(Thousands of Dollars)
|
Pulitzer Excess Cash Flow
|
Payment Date
|
Payment Amount
(not rejected)
|
|
|
|
|
|
|
December 27, 2015
|
2,864
|
Q2 2016
|
1,867
|
|
March 27, 2016
|
2,730
|
Q3 2016
|
525
|
|
June 26, 2016
|
1,583
|
Q4 2016
|
299
|
|
September 25, 2016
|
—
|
Q1 2017
|
—
|
|
5
|
PENSION, POSTRETIREMENT AND POSTEMPLOYMENT DEFINED BENEFIT PLANS
|
PENSION PLANS
|
13 Weeks Ended
|
|
||
(Thousands of Dollars)
|
December 25
2016 |
|
December 27
2015 |
|
|
|
|
||
Service cost for benefits earned during the period
|
21
|
|
49
|
|
Interest cost on projected benefit obligation
|
1,349
|
|
1,515
|
|
Expected return on plan assets
|
(1,969
|
)
|
(2,174
|
)
|
Amortization of net loss
|
736
|
|
599
|
|
Amortization of prior service benefit
|
(34
|
)
|
(34
|
)
|
Pension expense (benefit)
|
103
|
|
(45
|
)
|
|
|
|
||
POSTRETIREMENT MEDICAL PLANS
|
13 Weeks Ended
|
|
||
(Thousands of Dollars)
|
December 25
2016 |
|
December 27
2015 |
|
|
|
|
||
Service cost for benefits earned during the period
|
3
|
|
16
|
|
Interest cost on projected benefit obligation
|
122
|
|
156
|
|
Expected return on plan assets
|
(264
|
)
|
(331
|
)
|
Amortization of net gain
|
(237
|
)
|
(273
|
)
|
Amortization of prior service benefit
|
(365
|
)
|
(365
|
)
|
Postretirement medical benefit
|
(741
|
)
|
(797
|
)
|
6
|
INCOME TAXES
|
7
|
EARNINGS PER COMMON SHARE
|
|
13 Weeks Ended
|
|
||
(Thousands of Dollars and Shares, Except Per Share Data)
|
December 25
2016 |
|
December 27
2015 |
|
|
|
|
||
Income attributable to Lee Enterprises, Incorporated:
|
12,173
|
|
11,237
|
|
Weighted average common shares
|
55,935
|
|
54,856
|
|
Less weighted average restricted Common Stock
|
(2,407
|
)
|
(1,716
|
)
|
Basic average common shares
|
53,528
|
|
53,140
|
|
Dilutive stock options and restricted Common Stock
|
1,873
|
|
718
|
|
Diluted average common shares
|
55,401
|
|
53,858
|
|
Earnings per common share:
|
|
|
||
Basic
|
0.23
|
|
0.21
|
|
Diluted
|
0.22
|
|
0.21
|
|
8
|
STOCK OWNERSHIP PLANS
|
(Thousands of Dollars and Shares, Except Per Share Data)
|
Shares
|
|
Weighted
Average
Exercise
Price
|
|
Weighted
Average
Remaining
Contractual
Term
(Years)
|
Aggregate
Intrinsic
Value
|
|
|
|
|
|
|
|||
Outstanding, September 25, 2016
|
1,698
|
|
2.42
|
|
|
|
|
Exercised
|
(214
|
)
|
1.52
|
|
|
|
|
Cancelled
|
(42
|
)
|
26.85
|
|
|
|
|
Outstanding, December 25, 2016
|
1,442
|
|
1.85
|
|
4.4
|
1,522
|
|
|
|
|
|
|
|||
Exercisable, December 25, 2016
|
1,442
|
|
1.85
|
|
4.4
|
1,522
|
|
(Thousands of Shares, Except Per Share Data)
|
Shares
|
|
Weighted
Average
Grant Date
Fair Value
|
|
|
|
|
||
Outstanding, September 27, 2016
|
2,462
|
|
2.74
|
|
Vested
|
(707
|
)
|
3.61
|
|
Granted
|
812
|
|
3.35
|
|
Cancelled
|
(2
|
)
|
1.53
|
|
Outstanding, December 25, 2016
|
2,565
|
|
2.70
|
|
9
|
FAIR VALUE MEASUREMENTS
|
10
|
COMMITMENTS AND CONTINGENT LIABILITIES
|
|
13 Weeks Ended
|
|
||
(Thousands of Dollars)
|
December 25
2016 |
|
December 27
2015 |
|
|
|
|
||
Net Income
|
12,440
|
|
11,508
|
|
Adjusted to exclude
|
|
|
||
Income tax expense
|
6,266
|
|
7,147
|
|
Non-operating expenses, net
|
12,733
|
|
17,754
|
|
Equity in earnings of TNI and MNI
|
(2,689
|
)
|
(2,799
|
)
|
Loss (gain) on sale of assets, net
|
68
|
|
(971
|
)
|
Depreciation and amortization
|
10,380
|
|
10,943
|
|
Workforce adjustments
|
65
|
|
604
|
|
Stock compensation
|
524
|
|
570
|
|
Add:
|
|
|
||
Ownership share of TNI and MNI EBITDA (50%)
|
3,476
|
|
3,809
|
|
Adjusted EBITDA
|
43,263
|
|
48,565
|
|
•
|
46 daily and 34 Sunday newspapers with print and digital subscribers totaling
0.9 million
and
1.2 million
, respectively, for the 13 weeks ended December 25, 2016. We estimate that almost three million people read our printed daily newspapers each day; and
|
•
|
Nearly 300 weekly newspapers and classified and niche publications.
|
•
|
$400,000,000
aggregate principal amount of 9.5% Senior Secured Notes (the “Notes”), pursuant to an Indenture dated as of March 31, 2014 (the “Indenture”), of which
$385,000,000
is outstanding at
December 25, 2016
;
|
•
|
$250,000,000
first lien term loan (the "1st Lien Term Loan") and
$40,000,000
revolving facility (the "Revolving Facility") under a First Lien Credit Agreement dated as of March 31, 2014 (together, the “1
st
Lien Credit Facility”), of which
$83,984,000
is outstanding at
December 25, 2016
; and
|
•
|
$150,000,000
second lien term loan under a Second Lien Loan Agreement dated as of March 31, 2014 (the “ 2
nd
Lien Term Loan”), of which
$130,433,000
is outstanding at
December 25, 2016
.
|
|
13 Weeks Ended
|
|
||||||
(Thousands of Dollars, Except Per Share Data)
|
December 25
2016 |
|
December 27
2015 |
|
Percent
Change
|
|
Same Property
|
|
|
|
|
|
|
||||
Advertising and marketing services revenue:
|
|
|
|
|
||||
Retail
|
61,905
|
|
69,787
|
|
(11.3
|
)
|
(9.4
|
)
|
Classified
|
22,204
|
|
26,016
|
|
(14.7
|
)
|
(13.7
|
)
|
National
|
6,300
|
|
6,888
|
|
(8.5
|
)
|
(7.4
|
)
|
Niche publications and other
|
2,626
|
|
2,946
|
|
(10.9
|
)
|
(10.8
|
)
|
Total advertising and marketing services revenue
|
93,035
|
|
105,637
|
|
(11.9
|
)
|
(10.4
|
)
|
Subscription
|
48,888
|
|
50,430
|
|
(3.1
|
)
|
(1.9
|
)
|
Digital services
|
3,474
|
|
3,316
|
|
4.8
|
|
4.8
|
|
Commercial printing
|
2,774
|
|
3,226
|
|
(14.0
|
)
|
(13.1
|
)
|
Other
|
5,818
|
|
5,796
|
|
0.4
|
|
0.5
|
|
Total operating revenue
|
153,989
|
|
168,405
|
|
(8.6
|
)
|
(7.2
|
)
|
Operating expenses:
|
|
|
|
|
||||
Compensation
|
55,056
|
|
58,665
|
|
(6.2
|
)
|
(5.1
|
)
|
Newsprint and ink
|
6,893
|
|
6,685
|
|
3.1
|
|
3.1
|
|
Other operating expenses
|
52,777
|
|
58,869
|
|
(10.3
|
)
|
(8.1
|
)
|
Workforce adjustments
|
65
|
|
604
|
|
(89.2
|
)
|
(89.2
|
)
|
Cash costs
|
114,791
|
|
124,823
|
|
(8.0
|
)
|
(6.4
|
)
|
|
39,198
|
|
43,582
|
|
(10.1
|
)
|
|
|
Depreciation and amortization
|
10,380
|
|
10,943
|
|
(5.1
|
)
|
|
|
Loss (gain) on sales of assets, net
|
68
|
|
(971
|
)
|
NM
|
|
|
|
Equity in earnings of associated companies
|
2,689
|
|
2,799
|
|
(3.9
|
)
|
|
|
Operating income
|
31,439
|
|
36,409
|
|
(13.7
|
)
|
|
|
Non-operating income (expense), net
|
(12,733
|
)
|
(17,754
|
)
|
(28.3
|
)
|
|
|
Income before income taxes
|
18,706
|
|
18,655
|
|
0.3
|
|
|
|
Income tax expense
|
6,266
|
|
7,147
|
|
(12.3
|
)
|
|
|
Net income
|
12,440
|
|
11,508
|
|
8.1
|
|
|
|
Net income attributable to non-controlling interests
|
(267
|
)
|
(271
|
)
|
(1.5
|
)
|
|
|
Income attributable to Lee Enterprises, Incorporated
|
12,173
|
|
11,237
|
|
8.3
|
|
|
|
Other comprehensive income (loss), net of income taxes
|
55
|
|
(43
|
)
|
NM
|
|
|
|
Comprehensive income attributable to Lee Enterprises, Incorporated
|
12,228
|
|
11,194
|
|
9.2
|
|
|
|
Earnings per common share:
|
|
|
|
|
||||
Basic
|
0.23
|
|
0.21
|
|
9.5
|
|
|
|
Diluted
|
0.22
|
|
0.21
|
|
4.8
|
|
|
|
13 Weeks Ended
|
|
||||||
|
December 25
2016 |
|
December 27
2015 |
|
||||
(Thousands of Dollars, Except Per Share Data)
|
Amount
|
|
Per Share
|
|
Amount
|
|
Per Share
|
|
|
|
|
|
|
||||
Income attributable to Lee Enterprises, Incorporated, as reported
|
12,173
|
|
0.22
|
|
11,237
|
|
0.21
|
|
Adjustments:
|
|
|
|
|
||||
Warrants fair value adjustment
|
(3,095
|
)
|
|
(73
|
)
|
|
||
|
(3,095
|
)
|
(0.06
|
)
|
(73
|
)
|
—
|
|
Income attributable to Lee Enterprises, Incorporated, as adjusted
|
9,078
|
|
0.16
|
|
11,164
|
|
0.21
|
|
Number
|
|
Description
|
|
|
|
31.1
|
|
Rule 13a-14(a)/15d-14(a) certification
|
31.2
|
|
Rule 13a-14(a)/15d-14(a) certification
|
32
|
|
Section 1350 certification
|
|
|
|
LEE ENTERPRISES, INCORPORATED
|
|
|
|
|
|
/s/ Ronald A. Mayo
|
|
February 3, 2017
|
Ronald A. Mayo
|
|
|
Vice President, Chief Financial Officer and Treasurer
|
|
|
(Principal Financial and Accounting Officer)
|
|
|
1 Year Lee Enterprises Chart |
1 Month Lee Enterprises Chart |
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