Wednesday, April 21, 2010

News of the Weird: Lee Enterprises Posts a Profit

Posted By on Wed, Apr 21, 2010 at 10:08 AM

Who's money? The newspaper.
  • Who's money? The newspaper.
Maybe it's the fact that they're paying employees less. Or maybe it's that they're no longer providing benefits to retirees.

Whatever the case, Lee Enterprises (the parent company of the Post-Dispatch) managed to squeak out a profit for the three months ending March 28.

According to the St. Louis Business Journal, Lee reported an adjusted profit of $1.9 million during its second quarter of fiscal 2010. That's compared to an adjusted loss of $2.9 million for the same period in 2009.

Still the company's stock remains in the toilet. Lee traded at more than $40 per share after its acquisition of the Post-Dispatch back in 2005. Today the stock can be picked up for less than $5.

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