Lee Enterprises Inc. (LEE) Reports Q2 EPS of $0.05

Lee Enterprises Inc. (NYSE: LEE) reported Q2 EPS of $0.05, versus ($0.05) reported last year. Revenue for the quarter came in at $154.1 million, versus $160.6 million reported last year.

Mary Junck, chairman and chief executive officer, said: "We continued 2014 with another good quarter. The market for digital advertising continues to expand, with digital advertising revenue growing at a double digit clip. Our business transformation initiatives continue to create efficiencies, driving cash costs(2) down almost 6% in the quarter and creating an increase in operating cash flow(2) over the prior year. We are now in a position to improve our full year guidance, once again, as we expect our cash costs to be down 3.0-3.5% in 2014."

She added: "With the refinancing announcement a few weeks ago, pushing our maturities out to 2022, we can continue to focus on driving operating results through our many revenue and business transformation initiatives. One of our key initiatives is our full-access subscription model, with our first two markets having launched in April. We are optimistic about the results and will continue the roll out of full-access subscriptions to more than half of our markets by the end of the year."

For earnings history and earnings-related data on Lee Enterprises Inc. (LEE) click here.

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