The parent company of the Arizona Daily Star, Lee Enterprises, reported its third fiscal quarter ended on June 24, 2012, with a loss of 3 cents per common share. Adjusted earnings per common share totaled 2 cents, compared with 21 cents a year ago.
According to Mary Junck, Lee’s chairman and chief executive officer, the organization introduced digital subscriptions in 11 more markets during the quarter, for a total of 17 so far, and expect nearly all of Lee’s 52 markets to follow by the end of the calendar year.
Junck said that they continue to reduce costs.
Operating revenue for the quarter totaled $179.3 million, a decrease of 4.3% compared with a year ago. Combined print and digital advertising revenue decreased 5.8% to $125.3 million, with retail advertising down 3.8%, classified down 6.9% and national down 17.2%. Combined print and digital classified employment revenue increased 1.4%, while automotive decreased 4.8%, real estate decreased 16.1% and other classified decreased 9.9%. Digital advertising revenue on a stand-alone basis increased 10.0% to $17.3 million.
Print revenue on a stand-alone basis decreased 7.9%. Circulation revenue decreased 1.1%.
Lee’s websites and mobile and tablet products attracted 22.2 million unique visitors in the month of June 2012, an increase of 3.1% from a year ago.
Compensation decreased 3.5%, with the average number of full-time equivalent employees down 7.5%.
One year ago this week, the Arizona Daily Star laid off over 50 employees and is expected to move to an online subscription model soon. It is unknown what the future of the Lee’s online publication, TucsonCitizen.com, will be.
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