Lee Enterprises, Inc. - LEE STOCK NEWS

Lee Enterprises, trading under NASDAQ: LEE, announced it has received a notification from Nasdaq regarding non-compliance with timely filing requirements due to a delay in filing its Annual Report on Form 10-K for the fiscal year ending September 25, 2022. Lee has 60 days to submit a compliance plan to Nasdaq, with potential extensions available. The company's stock will continue trading without immediate effects. Despite the delay, Lee does not anticipate material impacts on its preliminary financial results previously announced.

Lee Enterprises reported strong preliminary fourth quarter results for fiscal 2022, with Adjusted EBITDA growth of 17% year-over-year. Total operating revenue was $194 million, matching the prior year, while digital-only subscriptions rose 32% to 532,000. Digital revenue reached $240 million for the fiscal year, up 27%, comprising 31% of total revenue. Notably, Amplified Digital® revenue grew 83% to $76 million. However, the company recorded a net loss of $6 million and faced $20 million in non-cash impairments. Looking ahead, total digital revenue is expected between $280 million and $285 million in FY2023.

Lee Enterprises, a significant provider of local news and advertising, has announced a conference call on December 8, 2022, at 9 a.m. Central Time. This call will present preliminary results for the fiscal year ending September 25, 2022. Investors can access the live webcast via Lee's Investor Relations website. Lee operates in 77 markets with an average daily circulation of 1.0 million and attracts over 38 million digital unique visitors. The company's stock is traded under the symbol LEE on NASDAQ.

Lee Enterprises (NASDAQ: LEE) has announced the formation of a 12-member team dedicated to investigative and data journalism, aimed at enhancing local reporting across its 77 markets. This initiative aligns with Lee's Three-Pillar Growth Strategy, emphasizing accountability and impactful journalism. The team includes award-winning reporters with expertise in various sectors, enhancing local newsrooms' capabilities. Additionally, Lee has expanded its internship program, adding over 60 summer interns in 2022, promoting the development of future journalism talent.

Lee Enterprises reported strong financial results for Q3 fiscal 2022, highlighting a 49% year-over-year increase in digital-only subscribers, totaling 501,000. The company achieved a digital revenue milestone, with 51% of advertising revenue coming from digital sources. Amplified Digital® revenue surged by 74% to $66 million over the past year. Total operating revenue stood at $195 million, and the company reaffirmed its full-year Adjusted EBITDA guidance of $95 - $98 million.

Lee Enterprises, a leading provider of local news and information operating in 77 markets, has scheduled an audio webcast and conference call for August 4, 2022, at 9 a.m. Central Time. The company will release preliminary results for its third fiscal quarter ended June 26, 2022, before the market opens that day. Participants can join the webcast at lee.net, and a replay will be available 24 hours later. Lee's newspapers reach over 38 million digital unique visitors and have an average daily circulation of 1.0 million.

Lee Enterprises (NASDAQ: LEE) announced the election of Dr. Shaun McAlmont to its Board, effective immediately. McAlmont brings extensive experience in digital transformation and change management, previously serving as President and CEO of NINJIO and President of Career Learning at Stride, Inc., where he led significant growth initiatives. His appointment was part of a strategic effort to enhance the Board's expertise in overseeing digital growth. With this addition, the Board now consists of nine directors, including seven independent members, reflecting a commitment to refreshed leadership.

Lee Enterprises reported its second quarter fiscal 2022 results, showcasing strong digital growth despite declines in print revenue. Total digital revenue reached $58 million, a 33% year-over-year increase, comprising 31% of total operating revenue. Digital-only subscribers grew by 59% to 492,000, while digital advertising revenue soared 36% to $43 million. Operating expenses rose by 5% due to investments in digital talent. The net loss totaled $6.7 million, with adjusted EBITDA at $16.9 million. Lee is well-positioned to meet its fiscal year digital revenue targets.

Lee Enterprises has announced an audio webcast and conference call for May 5, 2022, at 9 a.m. Central Time to discuss preliminary results for its second fiscal quarter ending March 27, 2022. A news release with the financial details will be issued before the market opens that day. The live webcast will be accessible through the company's website and available for replay afterward. Lee operates a significant subscription and advertising platform, serving 77 markets with a daily circulation of approximately 1 million.