Lee Enterprises (NYSE: LEE) reported Q4 EPS of $0.14, versus $0.06 reported last year. Revenue for the quarter came in at $148.18 million versus the consensus estimate of $156.1 million.

"In 2016, our enterprises ranked among industry leaders in revenue and operating performance," said Kevin Mowbray, president and chief executive officer. "We continued to aggressively transform the business, and as a result, adjusted EBITDA(2) remained strong. We reduced debt by more than $23.1 million in the fourth quarter and $108.7 million in the fiscal year.

"Operating expenses for the 13 weeks ended September 25, 2016 decreased 4.2%. As a result of our ongoing strategic transformation efforts, September quarter cash costs(2), excluding unusual matters, decreased 4.3% compared to the prior year quarter," he added. "For the fiscal year, cash costs, excluding unusual matters, were down 4.8%, topping guidance we announced earlier this year of 3.75% to 4.0%.

"Total digital revenue, including digital advertising and digital services, totaled $25.9 million for the quarter, up 6.7% compared to a year ago, driven by the strong performance of TownNews.com, digital retail and digital national revenue," Mowbray said. "Mobile advertising revenue, which is included in digital advertising, increased 25.1% in the quarter.

"Subscription revenue increased 2.4% in the quarter through strategic marketing and pricing strategies," he said. "Subscription revenue was virtually flat for the fiscal year, and we expect a strong performance in 2017."

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