Lee Enterprises, Incorporated Promotes Astrid Garcia to Vice President of Human Resources, Effective December 2, 2013
Nov 26 13
Astrid J. Garcia, vice president of human resources, labor and operations at the St. Louis Post-Dispatch, has been promoted to vice president of human resources for Lee Enterprises, Incorporated. Garcia will be based at the corporate headquarters in Davenport beginning December 2, 2013. Garcia joined Lee at the Post-Dispatch in 2006.
Lee Enterprises, Incorporated Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Fiscal Year Ended September 29, 2013; Reports Impairment Charges for the Fourth Quarter Ended September 29, 2013
Nov 11 13
Lee Enterprises, Incorporated reported unaudited consolidated earnings results for the fourth quarter and fiscal year ended September 29, 2013. For the quarter, the company's losses widened, as the company absorbed an accounting charge to reflect the diminished value of its publications. The company recorded a non-cash charge of $171 million before taxes. The accounting charge left Lee with a loss of $88.7 million, or $1.71 per share. That compared with a loss of $3.2 million, or 6 cents per share, during the same period a year ago. After taxes, the accounting charge came to $101 million, or $1.94 per share. If not for the charge and other one-time items, the company would have earned $13.1 million, or 25 cents per share, in the quarter. Revenue declined 9% from a year earlier to $162 million. If last year's fiscal fourth quarter had been thirteen weeks, revenue for this year's quarter would have been down 3%. Net loss was $88.5 million compared with a net loss of just over $3 million in the fourteen week period in fiscal 2012. Operating revenue in the fourth quarter of fiscal 2013 was $162.5 million, down 9.5% from the fourth quarter of fiscal 2012. Adjusted income attributable to the company was at $13.12 million or $0.25 per share against $3.85 million or $0.07 per share reported last year. Loss before income taxes was at $163.08 million against $3.82 million reported last year. Loss from continuing operations was at $88.54 million against $0.662 million reported last year. Adjusted EBITDA was at $40.95 million against $42.11 million reported last year. Capital expenditures were at $2.91 million against $3.23 million reported last year.
For the fiscal year 2013, the company reported a net loss of $77.7 million for fiscal 2013 ended September 29, 2013 compared with a net loss of $16.3 million in fiscal 2012, which included an additional week of business. Operating revenue was $674.7 million, down 4.6% from fiscal 2012, which included 53 weeks. During fiscal 2013, combined print and digital advertising and marketing services revenue totaled $459.8 million, down 7.1% from fiscal 2012, with retail advertising down 5%, classified down 9.8% and national advertising down 8.8%. Adjusted EBITDA increased to $173.7 million in 2013, the fifth consecutive year of strong, stable performance. Operating loss was at $57.32 million against $99.371 million reported last year. Loss attributable to the company totaled $78.3 million, compared to a loss of $16.7 million a year ago. Adjusted income attributable to the company was at $24.36 million or $0.47 per share against $20.87 million or $0.42 per share reported last year. Loss before income taxes was at $139.22 million against $22.54 million reported last year. Loss from continuing operations was at $76.48 million against $13.38 million reported last year. Adjusted EBITDA was at $173.68 million against $173.11 million reported last year. Capital expenditures were at $9.74 million against $7.84 million reported last year.
For the fourth quarter, the company took a pre-tax, non-cash impairment charge of $171.1 million to reduce the carrying value of its publications.
Paul M. Farrell Rejoins to Lee Enterprises, Incorporated as Vice President - Digital Sales
Sep 30 13
Advertising executive Paul M. Farrell is returning to Lee Enterprises, Incorporated as vice president - digital sales. He rejoins Lee from Hearst Media Services, where he has been publisher of the Connecticut Media Group since 2012. Farrell, led Lee sales and marketing for five years, beginning in 2007. He previously was senior vice president of advertising at The Providence Journal Co. His 32-year career also includes serving as advertising director for retail and national advertising at the Boston Globe, senior vice president of advertising for Community Newspapers in Boston and senior vice president of sales and marketing at the St. Paul Pioneer Press. He also previously was director of sales and marketing at Miami Herald Publishing Company and was director of product marketing and advertising technologies at Atex Inc.