Lee Enterprises, the parent company of The Times Media Co., reported a loss of 15 cents per diluted common share the fiscal fourth quarter.
Davenport, Iowa-based Lee reported today a loss of $7.7 million in the quarter that ended Sept. 30, compared with a loss of $8.8 million, or 20 cents a share, a year earlier.
“Lee continues very much on course as we drive strong digital growth, control costs, transform our business and rapidly pay down debt,” said Mary Junck, chairman and CEO. “We enter fiscal 2013 with energy, optimism and confidence in our strategies.”
Operating revenue was $180.3 million, an increase of 2.6 percent compared to the previous year.
Junck also noted Lee has outpaced the industry average in advertising revenue performance since June 2003. New initiatives include a suite of social media products for smal- and mid-size businesses. And Bill Masterson Jr., newly appointed vice president for publishing and publisher of The Times, has been chosen by Editor & Publisher as its Publisher of the Year.
Lee owns 47 daily newspaper and has a joint interest in four others.