"As we have noted previously, we believe the long-term prospects for our company remain strong and will become increasingly apparent to investors as the recession begins to recede. Our newspapers and online sites continue to reach the vast majority of adults in our markets, far more than any competitor, and we continue to stand out as the leading provider of local news, information and advertising in our markets."
Lee stockholders voted on and approved a reverse stock split in March when the stock was hovering around the 30-cent mark. The reverse stock split was never put into effect.
Stock closed Tuesday at $1.83.