Lee Enterprises Posts Rising 3Q Profit, Falling Revenue
Much like USA Today parent company Gannett (GCI), which announced rising profit but falling revenue last Friday, midwestern newspaper publisher Lee Enterprises (LEE) today reported an adjusted fiscal third-quarter profit of $11.6 million, compared with $5.3 million in the year-ago quarter.
Including one-time items — such as a $39.7 million goodwill impairment charge in the third quarter of 2009 and debt-financing and other costs from both 2009 and 2010 — Lee recorded third-quarter 2010 net income of $10 million, up from a loss of $24.5
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