Results of Operations

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM  8-K/A CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported):  December 14, 2012 _______________________________________________________________________   LEE ENTERPRISES, INCORPORATED    (Exact name of Registrant as specified in its charter) _______________________________________________________________________ Commission File Number 1-6227 Delaware (State of Incorporation) 42-0823980 (I.R.S. Employer Identification No.) 201 N. Harrison Street, Davenport, Iowa  52801 (Address of Principal Executive Offices) (563) 383-2100 Registrant's telephone number, including area code _____________________________________________________________________________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions: [  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) EXPLANATORY NOTE Lee Enterprises, Incorporated (the “Company”) is filing this Current Report on Form 8-K/A (the “Amendment Filing”) to revise certain information in a press release (the “Original Release”) furnished by the Company with its Current Report on Form 8-K filed with the Securities and Exchange Commission as of November 12, 2012 (the “Original Filing”). The revised information will also be included in the Company's Annual Report on Form 10-K, to be filed on December 14, 2012. Section 2 - Financial Information Item 2.02      Results of Operations and Financial Condition On November 12, 2012, the Company issued the Original Release and furnished the Original Filing to announce financial results for its fourth fiscal quarter and year ended September 30, 2012. Subsequent to the Original Filing, the Company determined that the amount of income tax expense recognized in the Company's Consolidated Statement of Operations for its fourth fiscal quarter at the time of the Original Filing was overstated by approximately $4,567,000. This change results in a decrease in loss attributable to Lee Enterprises, Incorporated from $7,721,000 for the quarter ended September 30, 2012 to a loss of $3,154,000 , and from a loss of $0.15 per diluted common share to a loss of $0.06 . For the 2012 fiscal year, loss attributable to Lee Enterprises, Incorporated decreases from $21,265,000 to a loss of $16,698,000 , and from a loss of $0.43 per diluted common share to a loss of $0.34 . This change has no impact on the Company's revenue, operating expenses, operating income or cash flows. The Amended Consolidated Statements of Operations for the Company's quarter and year ended September 30, 2012 follow: CONSOLIDATED STATEMENTS OF OPERATIONS   Quarter Ended     Year Ended   (Thousands of Dollars and Shares, Except Per Share Data) Sept 30 2012 Sept 25 2011 Percent Change   Sept 30 2012 Sept 25 2011 Percent Change                 Advertising revenue:               Retail 75,733 73,804 2.6   306,085 315,072 (2.9 ) Classified:               Employment 9,647 9,831 (1.9 )   37,079 37,286 (0.6 ) Automotive 10,009 9,748 2.7   39,062 40,169 (2.8 ) Real estate 5,622 5,956 (5.6 )   20,942 23,794 (12.0 ) All other 14,368 14,163 1.4   52,301 56,974 (8.2 ) Total classified 39,646 39,698 (0.1 )   149,384 158,223 (5.6 ) National 6,326 7,068 (10.5 )   29,173 31,639 (7.8 ) Niche publications 2,959 3,113 (4.9 )   11,230 12,414 (9.5 ) Total advertising revenue 124,664 123,683 0.8   495,872 517,348 (4.2 ) Circulation 45,240 43,688 3.6   174,747 172,245 1.5 Commercial printing 3,347 2,522 32.7   12,768 11,303 13.0 Other 7,092 5,922 19.8   27,099 26,423 2.6 Total operating revenue 180,343 175,815 2.6   710,486 727,319 (2.3 ) Operating expenses:               Compensation 69,187 66,735 3.7   276,379 283,527 (2.5 ) Newsprint and ink 13,114 13,198 (0.6 )   52,003 56,191 (7.5 ) Other operating expenses 56,644 55,072 2.9   214,570 220,656 (2.8 ) Workforce adjustments 1,470 1,508 (2.5 )   4,640 3,922 18.3   140,415 136,513 2.9   547,592 564,296 (3.0 ) Operating cash flow 39,928 39,302 1.6   162,894 163,023 (0.1 ) Depreciation 5,730 6,280 (8.8 )   23,620 25,833 (8.6 ) Amortization 9,865 10,942 (9.8 )   42,297 44,473 (4.9 ) Impairment of goodwill and other assets 1,388 17,114 (91.9 )   1,388 204,439 (99.3 ) Curtailment gains — — NM   — 16,137 NM Equity in earnings of associated companies 1,229 1,073 14.5   7,231 6,151 17.6 Reduction of investment in TNI Partners — (100 ) NM   — 11,900 NM Operating income (loss) 24,174 6,139 NM   102,820 (101,334 ) NM CONSOLIDATED STATEMENTS OF OPERATIONS, continued   Quarter Ended     Year Ended   (Thousands of Dollars and Shares, Except Per Share Data) Sept 30 2012 Sept 25 2011 Percent Change   Sept 30 2012 Sept 25 2011 Percent Change                 Non-operating income (expense):               Financial income 123 118 4.2   236 296 (20.3 ) Financial expense (25,546 ) (12,896 ) 98.1   (83,078 ) (52,696 ) 57.7 Debt financing costs (42 ) (2,698 ) (98.4 )   (2,823 ) (12,612 ) (77.6 ) Other, net (2,533 ) 611 NM   (2,533 ) 595 NM   (27,998 ) (14,865 ) 88.3   (88,198 ) (64,417 ) 36.9 Income (loss) before reorganization costs and income taxes (3,824 ) (8,726 ) (56.2 )   14,622 (165,751 ) NM Reorganization costs 148 — NM   37,765 — NM Loss before income taxes (3,972 ) (8,726 ) (54.5 )   (23,143 ) (165,751 ) (86.0 ) Income tax expense (benefit) (3,211 ) (717 ) NM   (9,371 ) (20,316 ) (53.9 ) Net loss from continuing operations (761 ) (8,009 ) (90.5 )   (13,772 ) (145,435 ) (90.5 ) Discontinued operations, net of income taxes (2,266 ) (724 ) NM   (2,527 ) (1,246 ) NM Net loss (3,027 ) (8,733 ) (65.3 )   (16,299 ) (146,681 ) (88.9 ) Net income attributable to non-controlling interests (127 ) (51 ) NM   (399 ) (187 ) NM Loss attributable to Lee Enterprises, Incorporated (3,154 ) (8,784 ) (64.1 )   (16,698 ) (146,868 ) (88.6 )                 Loss per common share:               Basic:               Continuing operations (0.02 ) (0.18 ) (88.9 )   (0.29 ) (3.25 ) (91.1 ) Discontinued operations (0.04 ) (0.02 ) NM   (0.05 ) (0.03 ) 66.7 Net loss (0.06 ) (0.20 ) (70.0 )   (0.34 ) (3.27 ) (89.6 )                 Diluted:               Continuing operations (0.02 ) (0.18 ) (88.9 )   (0.29 ) (3.25 ) (91.1 ) Discontinued operations (0.04 ) (0.02 ) NM   (0.05 ) (0.03 ) 66.7 Net loss (0.06 ) (0.20 ) (70.0 )   (0.34 ) (3.27 ) (89.6 )                 Average common shares:               Basic 52,076 44,958     49,261 44,847   Diluted 52,076 44,958     49,261 44,847   This change also results in an increase in adjusted income (loss) per common share (1) from a loss of $0.01 per diluted common share for the quarter ended September 30, 2012 to earnings of $0.08 per diluted common share. For the 2012 fiscal year, the Company's adjusted earnings per common share increases from $0.33 to $0.42 . The following tables summarize the impact from unusual matters on loss attributable to Lee Enterprises, Incorporated and loss per diluted common share for the Company's quarter and year ended September 30, 2012 compared to the prior year periods:           Quarter Ended     September 30 2012     September 25 2011   (Thousands of Dollars, Except Per Share Data) Amount   Per Share   Amount   Per Share                 Loss attributable to Lee Enterprises, Incorporated, as reported (3,154 )   (0.06 )   (8,784 )   (0.20 ) Adjustments:               Impairment of goodwill and other assets, including TNI Partners 1,388       17,714     Debt financing and reorganization costs 1,869       2,698     Litigation settlement 2,802       —     Unusual matters related to discontinued operations 3,614       4     Other, net 1,626       2,771       11,299       23,187     Income tax effect of adjustments, net, and unusual tax matters (3,912 )       (5,448 )       7,387   0.14   17,739   0.39 Income (loss) attributable to Lee Enterprises, Incorporated, as adjusted 4,233   0.08   8,955   0.20   2012     2011   (Thousands of Dollars, Except Per Share Data) Amount   Per Share   Amount   Per Share                 Loss attributable to Lee Enterprises, Incorporated, as reported (16,698 )   (0.34 )   (146,868 )   (3.27 ) Adjustments:               Curtailment gains —       (16,137 )     Impairment of goodwill and other assets, including TNI Partners 1,388       216,339     Debt financing and reorganization costs 45,378       12,612     Litigation settlement 2,802       —     Unusual matters related to discontinued operations 4,145       1,011     Other, net 4,789       5,502       58,502       219,327     Income tax effect of adjustments, net, and other unusual tax matters (20,940 )       (40,779 )       37,562   0.76   178,548   3.98 Income attributable to Lee Enterprises, Incorporated, as adjusted 20,864   0.42   31,680   0.71 This Amendment Filing does not reflect events occurring after the Original Filing, or modify or update the disclosure presented in the Original Filing, except to reflect revisions associated with the change in income tax expense. NOTES (1) Adjusted income (loss) and adjusted earnings (loss) per common share, which are defined as loss attributable to Lee Enterprises, Incorporated and loss per common share adjusted to exclude both unusual matters and those of a substantially non-recurring nature, are non-GAAP (Generally Accepted Accounting Principles) financial measures. Reconciliations of adjusted income (loss) and adjusted earnings (loss) per common share to loss attributable to Lee Enterprises, Incorporated, and loss per common share are included in tables accompanying this release.       No non-GAAP financial measure should be considered as a substitute for any related GAAP financial measure. However, the company believes the use of non-GAAP financial measures provides meaningful supplemental information with which to evaluate its financial performance, or assist in forecasting and analyzing future periods. The company also believes such non-GAAP financial measures are alternative indicators of performance used by investors, lenders, rating agencies and financial analysts to estimate the value of a publishing business and its ability to meet debt service requirements.     (2) Operating cash flow, which is defined as operating income (loss) before depreciation, amortization, impairment charges, curtailment gains and equity in earnings of associated companies, and operating cash flow margin (operating cash flow divided by operating revenue) are non-GAAP financial measures. See (1) above. Reconciliations of operating cash flow to operating income (loss), the most directly comparable GAAP measure, are included in a table accompanying this release.     SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.       LEE ENTERPRISES, INCORPORATED                   Date: December 14, 2012 By:         Carl G. Schmidt         Vice President, Chief Financial Officer,         and Treasurer