Lee Enterprises, Incorporated is back in Nasdaq’s good graces.
The publisher says it has received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LL, saying it is now in compliance with listing standards.
Lee jzc informed by Nasdaq that it was not in compliance because it had not filed its Form 10-K with the Securities and Exchange Commission.
There was no effect on its listing, but the company faced a February 27 deadline for coming up with a compliance plan.
On that date, the company filed its Form 10-K. It reported total operating revenue of $781 million for the fiscal year ended September 25, 2022, down $13.7 million, or 1.7% YoY. Net income was $970,000, compared to $24.8 million in 2021 the decrease mostly due to “cycling one-time non-cash benefits,” the filing states.
This letter ends the delinquency matter opened by Nasdaq on December 28, 2022. The company filed its first quarter 2023 quarterly report on Form 10-Q on March 1.