Tuesday, January 20, 2009

Lee Enterprises Q1 Profit Plummets 69.3%

Tuesday, news and advertising services provider Lee Enterprises Inc. (LEE: News ), announced a 69.3% plunge in preliminary first-quarter profit, on workforce adjustment charges, losses on property and equipment, and a 13% decline in revenue. The company noted that preliminary amounts do not include the possible impact of additional impairment charges, which could affect reported earnings.

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