Feb. 06--Lee Enterprises reported Thursday preliminary earnings of 22 cents per diluted common share for its first fiscal quarter ending Dec. 29, 2013, compared with 28 cents a year ago. Excluding unusual matters, adjusted earnings per diluted common share totaled 24 cents, compared with earnings of 20 cents a year ago.
Operating revenue for the 13 weeks ending Dec. 29, 2013, totaled $177.4 million, a decrease of 3.9 percent compared with a year ago. Operating expenses, excluding depreciation, amortization and unusual matters, decreased 3.4 percent for the same period.
Non-operating expenses, primarily interest expense and debt financing costs, increased 26.1 percent, as an 11.2 percent reduction in interest expense was partially offset by a $6.9 million gain on sale of an investment in the prior year quarter.
Lee is half-owner of Madison-based Capital Newspapers, which publishes the Wisconsin State Journal and The Capital Times.
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