Lee narrows loss in fourth quarter

2012-11-12T18:00:00Z 2012-11-13T10:56:16Z Lee narrows loss in fourth quarterBy Tim Logan tlogan@post-dispatch.com 314-340-8291 stltoday.com

St. Louis Post-Dispatch parent company Lee Enterprises Monday reported a narrower loss in its fiscal fourth quarter.

The Davenport, Iowa-based publisher said it lost 15 cents per share in the three months ending Sept. 30, compared to 20 cents per share in the same period last year. But excluding one-time items, the company swung from a 20-cent-per-share gain to a one-cent loss.

Lee said interest and debt financing costs grew this year, and the company paid $2.8 million to settle a lawsuit. Operating revenue grew 2.6 percent, to $180.3 million, thanks in part to an extra week in this year's fourth quarter. Expenses increased 2.9 percent.

For the full year, operating revenue - most of which comes from advertising - fell 2.3 percent to $710.5 million. Expenses declined 3.1 percent.

Tim Logan is a business writer at the Post-Dispatch. Follow him on Twitter @tlwriter.

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