DAVENPORT, Iowa — Lee Enterprises, Inc., parent company of The Pantagraph, Pantagraph.com and Woodford County Journal, reported earnings of $35.3 million for its first fiscal quarter ended Dec. 24, or 63 cents per diluted common share.
For the same quarter a year ago, earnings totaled $12.4 million, or 22 cents per diluted common share.
Excluding the impact of the new tax legislation and the adjustment related to the change in fair value of the stock warrants, adjusted earnings per diluted common share totaled 19 cents in the current year quarter compared to 16 cents in the prior year quarter.
Lee CEO Kevin Mowbray said digital retail advertising, which represented 62 percent of total digital advertising in the December quarter, grew 5.7 percent in the quarter, driven by advertising from local retailers and programmatic.
Monthly visits to Lee mobile, tablet, desktop and app sites averaged 72.5 million, an increase of 6.1 percent over the prior year quarter. Total advertising and marketing services revenue decreased 9 percent in the quarter.
Income attributable to Lee Enterprises, Inc., for the quarter totaled $35 million, compared with income of $12.2 million a year ago.