St. Louis Post-Dispatch owner reports smaller loss

Lee Enterprises, which owns the St. Louis Post-Dispatch among other papers, reported results for its second fiscal quarter Thursday.
The company posted a loss, but still fared better than it did in the previous quarter, according to the Associated Press via Yahoo! Finance.

The Davenport-based company lost $51.8 million, or $1.16 per share, in the quarter that ended March 29, compared with a loss of $713 million, or $15.90 per share. Excluding one-time costs, its loss was 7 cents per share.

Advertising sales were down 24 percent, with individual categories falling anywhere from 19 percent (retail ads) to 33 percent (classified).
In line with a common trend this quarter, the company showed losses in online advertising of 27 percent. Several other companies have shown similar losses online, where they had been experiencing solid growth for several years.
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