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Lee Enterprises, Incorporated Message Board

joe_omaha_11 13 posts  |  Last Activity: Mar 26, 2014 9:41 PM Member since: Sep 12, 1998
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  • Reply to

    Why the free fall?

    by sierachook Mar 26, 2014 11:47 AM
    joe_omaha_11 joe_omaha_11 Mar 26, 2014 9:41 PM Flag

    Management did the best they could do. I was hoping for 7.5% (a lot of Junk debt is yielding under 6%). Alas, we move on.

  • Reply to

    2013 Earnings

    by neutzling Mar 15, 2014 10:33 AM
    joe_omaha_11 joe_omaha_11 Mar 15, 2014 11:04 AM Flag

    Earned about 29 cents per share....back out the income tax benefit...about 20 cents/share.

    So....PE ratio of about 40. Not sure I would classify this as "impressive annual report!".

    On the sidelines ....seems to be at least fairly priced (if not overly...)

  • joe_omaha_11 joe_omaha_11 Feb 16, 2014 11:42 AM Flag

    because it is all about long as people are wading through the muck...the math works for them. I use this less and less.

  • joe_omaha_11 by joe_omaha_11 Feb 3, 2014 9:22 PM Flag

    dumb question....the 175,000,000 loan is being replaced by a 200,000,000 loan.

    The 25,000,000.....does LEE get this extra 25,000,000 in cash to pay down the first tier.....or is the 25,000,000 just added to the loan?

  • Reply to


    by lewisd2008 Jan 31, 2014 1:07 PM
    joe_omaha_11 joe_omaha_11 Feb 1, 2014 4:11 PM Flag

    Hopefully some word on there refinancing. Other than the S-3s they have filed, I think they have been mum. And I think the paydown penalty went down a little yesterday.

    I don't think the credit markets have been getting any better the last couple of weeks. I think the refi is largely priced into this stock.......walking on thin ice at $4.00/share.

  • Reply to


    by donnie_54_1999 Jan 29, 2014 5:34 PM
    joe_omaha_11 joe_omaha_11 Jan 29, 2014 9:03 PM Flag

    Excluding a non-cash after-tax LIFO charge of $5.0 million, net earnings per diluted share were $1.06 during the quarter ended December 28, 2013 versus $1.39 during the quarter ended December 29, 2012, which included a non-cash LIFO charge of $0.8 million. Excluding a non-cash after-tax LIFO charge of $14.4 million, net earnings per diluted share were $2.61 during the nine months ended December 28, 2013, compared to $3.13 during the nine months ended December 29, 2012 which included a non-cash LIFO credit of $0.8 million

  • Reply to

    Earnings Date Moved to Feb 6

    by pipbustergreen Jan 1, 2014 6:20 PM
    joe_omaha_11 joe_omaha_11 Jan 6, 2014 6:15 AM Flag

    I also thing there is a good chance WEBuffet will be involvd...but I think he would want warrants on LEE's stocks....similar to MEG/GE/Goldman.

  • Reply to

    Earnings Date Moved to Feb 6

    by pipbustergreen Jan 1, 2014 6:20 PM
    joe_omaha_11 joe_omaha_11 Jan 3, 2014 12:05 AM Flag

    any guesses on how much interest expense will be reduced? Would love to see use paying about 10 million less per year. Hopefully the credit markets stay strong for the next month. Pay down about 500,000 over the next 5 years. And then start paying a dividend....Yes, I am an optimist!

  • Reply to

    Buying Allens

    by harus Dec 17, 2013 7:51 PM
    joe_omaha_11 joe_omaha_11 Dec 30, 2013 9:53 PM Flag

    I understand they are paying 148 million.....but you are stating they are paying 148 million AND assuming 100 million in debt? Was that in the press release? That really changes the calculus IMO.

    I own a little, but have not committed fully here. Like the continuity of management. But the mergers/rollups make it unlikely a dividend will be paid anytime soon.

  • Reply to

    Shorts getting squeezed big time.

    by longtimefollower Nov 15, 2013 2:52 AM
    joe_omaha_11 joe_omaha_11 Nov 15, 2013 8:38 PM Flag

    Longtime....great to hear from you. I take it you covered your earlier short?

    You have provided a lot of insight...much appreciated.

  • Reply to

    Shares outstanding

    by boowanna_2000 Aug 15, 2013 11:24 AM
    joe_omaha_11 joe_omaha_11 Nov 5, 2013 9:06 PM Flag

    they have been buying back about 17,000,000 dollars worth of share annually.

  • joe_omaha_11 joe_omaha_11 Jul 30, 2013 7:47 AM Flag

    Of course we are trying to refinance the debt and diffuse this ticking time bomb.

    I still think there is a good chance we do some convertible debt, enticing someone (eg, WEB) to take a lower interest rate in exchange for the appreciation (and maybe control of LEE).

    That the debt is selling close to PAR (99.1 cents) tells you people are not climbing over one another to buy it at its current rate. Partly because it is callable. Partly because there is still a lot of risk here.

  • Lee Enterprises, the owner of local newspapers in the U.S. Midwest and West Coast, is seeking to repay secured obligations to reduce its debt load.

    The owner of the St. Louis Post-Dispatch may target a $621 million term loan that matures in December 2015, paying interest at 6.25 percentage points more than the London interbank offered rate, according to Carl Schmidt, chief financial officer of the Davenport, Iowa-based company.

    Lee, which completed a bankruptcy reorganization in January 2012, is planning to reduce the ratio of its total debt to earnings before interest, taxes, depreciation and amortization to less than 2 times, Schmidt said in a July 25 telephone interview. The company’s leverage was 5.4 times as of March 31, according to data compiled by Bloomberg.

    “We’re continuing to monitor the credit markets and talk with bankers to see what our options are,” Schmidt said. The company will seek to refinance the term loan by 2015 at the latest, he said.

    The first-lien obligation, which was arranged by Deutsche Bank AG and Goldman Sachs Group Inc., was quoted at 99.1 cents on the dollar today, Bloomberg prices show.

    Lee had $876.1 million of total debt as of March 31, down from $1.4 billion in the third quarter of 2008, Bloomberg data show. Net income dropped $16.7 million in 2012, narrower than the $146.9 million loss in the prior year.

    “We’ve been very focused on paying down debt and have been aggressively doing that,” Schmidt said. “We would expect to continue to do that.”

4.18-0.01(-0.24%)Jul 23 4:02 PMEDT

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