Lamar Advertising Q3 Profit Rises - Quick Facts

(RTTNews) - Lamar Advertising Company (LAMR), a owner and operator of outdoor advertising and logo sign displays, reported that its third quarter of 2013 net income applicable to common stock increased to $18.25 million or $0.19 per share, from $11.41 million or $0.12 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share. Analysts' estimates typically exclude special items.

Operating income for the third quarter of 2013 was $69.3 million as compared to $63.5 million for the same period in 2012.

Pro forma net revenue for the third quarter of 2013 increased 2.1% and pro forma Adjusted EBITDA increased 1.6% as compared to the third quarter of 2012. Pro forma net revenue and Adjusted EBITDA include adjustments to the 2012 period for acquisitions and divestitures for the same time frame as actually owned in the 2013 period.

Quarterly net revenues were $323.2 million versus $306.3 million for the third quarter of 2012, a 5.5% increase. Nine analysts estimated revenues of $322.42 million for the quarter.

For the fourth quarter of 2013 the Company expects net revenue to be approximately $314 million to $317 million. On a pro forma basis this represents an increase of approximately 0.5% to 1.5%. Nine analysts estimate revenues of $316.46 million for the fourth-quarter.