11/14/08

And the numbers just keep on dropping. Now it’s Lee Enterprises’ turn.

For the year, the Davenport, Iowa-based community newspaper publisher swung to a loss per share of $15.23, compared with earnings of $1.77 a share in fiscal year 2007. The 2008 loss includes non-cash goodwill and other intangible assets impairment charges that so far have totaled $717.2 million after taxes. Without the impairment charges, earnings for the year were 97 cents per share, compared to $1.66 in 2007, Lee said.

Print and online advertising revenue was down 12.9 percent to $184.5 million.

Retail advertising declined just 5 percent, but Lee again took a big hit on classified, which fell 23.1 percent.

Inside the classified categories, including online, employment advertising revenue dropped 34.5 percent, automotive was off 18.8 percent, and real estate fell 30.6 percent.

Online ad revenue didn’t get hit as badly, but still fell 15.7 percent.