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Lee Enterprises Posts 2Q Profit
NEW YORK (AP) -- Lee Enterprises Inc., publisher of the St. Louis Post-Dispatch, the Quad-City Times, and other newspapers, is reporting its third profitable quarter in a row as the industry's advertising slump eases.

Lee said its ad revenue dropped roughly 8 percent from the same quarter a year ago, compared with a 16.4 percent drop in the last three months of 2009.

That trend, plus falling expenses, led to a profit of $3 million, or 7 cents per share, in Lee's fiscal second quarter, which ended in March. That compares with a loss of $51.8 million, or $1.16 per share, a year earlier, which included write-downs on the value of the company's assets.

Overall revenue fell 7 percent to $185.7 million.

(Copyright 2010 by The Associated Press. All Rights Reserved. WGIL News contributed to this report.)
04 20 10 by Newsroom
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