Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
LEE ENTERPRISES, Inc reported the fiscal year ended September 25, 2022 results: revenue $781 million, net income $1 million. Guidance initiated.
- Period
- the fiscal year ended September 25, 2022
- Revenue
- $781 million
- Net income
- $1 million
- Guidance
- initiated
- Result
- preliminary results
Exact text from the filing
• Total operating revenue was $781 million, down 2% versus the prior year. • Total Digital Revenue was $240 million, a 27% increase over the prior year, and represented 31% of our total operating revenue. • Digital-only subscription revenue increased 42% in 2022 compared to 2021. • Digital advertising and marketing services revenue represented 50% of our total advertising revenue and totaled $181 million, a 28% increase over the prior year. Digital marketing services revenue at Amplified Digital ® fueled the growth, with revenue of $76 million, an 83% increase over the prior year. • Digital services revenue, which is predominantly TownNews, totaled $18 million in the year. On a standalone basis, revenue at TownNews totaled $31 million, a 14% increase over the prior year. • Operating expenses totaled $762 million and Cash Costs (1) were up 1%. Rapidly rising prices, incremental investments in digital talent and technology tied to our digital growth strategy, and an increase in cost of g
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Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
LEE ENTERPRISES, Inc reported the fourth quarter ended September 25, 2022 results: revenue $194 million, net income $6 million. Guidance initiated.
- Period
- the fourth quarter ended September 25, 2022
- Revenue
- $194 million
- Net income
- $6 million
- Guidance
- initiated
- Result
- preliminary results
Exact text from the filing
• Total operating revenue was $194 million, flat versus the prior year. • Total Digital Revenue (3) was $65 million, a 31% increase over the prior year, and represented one-third of our total operating revenue. • Digital-only subscription revenue increased 46% in the fourth quarter compared to the same quarter last year and totaled $40 million in the fiscal year. Digital-only subscribers increased 32% and now total 532,000, exceeding our updated guidance of 515,000. • Digital advertising and marketing services revenue represented 55% of our total advertising revenue and totaled $49 million, a 33% increase over the prior year. Digital marketing services revenue at Amplified Digital ® fueled the growth, with quarterly revenue of $22 million, an 82% increase compared to the prior year. • The Company recognized $20 million in non-cash impairments of intangible assets and leases. • Net loss totaled $6 million and Adjusted EBITDA totaled $30 million.
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