Lamar Advertising Company (LAMR) has reported a 5.22 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $80.52 million, or $0.81 a share in the quarter, compared with $76.53 million, or $0.79 a share for the same period last year.
Revenue during the quarter grew 8.64 percent to $386.72 million from $355.97 million in the previous year period.
Total expenses were $271.35 million for the quarter, up 8.03 percent or $20.16 million from year-ago period. Operating margin for the quarter expanded 40 basis points over the previous year period to 29.83 percent.
Operating income for the quarter was $115.37 million, compared with $104.78 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $173.64 million compared with $158.67 million in the prior year period. At the same time, adjusted EBITDA margin improved 33 basis points in the quarter to 44.90 percent from 44.57 percent in the last year period.
For financial year 2017, Lamar Advertising Co projects net income to be in the range of $308.50 million to $323.30 million. For fiscal year 2017, the company expects diluted earnings per share to be in the range of $3.13 to $3.28.
“We concluded 2016 with a solid fourth quarter,” said Lamar chief executive officer Sean Reilly. “For the full year our revenue growth, combined with continued discipline on expenses, allowed us to increase our AFFO per share by nearly 9%, at the top end of the guidance we provided at the start of 2016.”
Operating cash flow improves
Lamar Advertising Company has generated cash of $521.82 million from operating activities during the year, up 9.25 percent or $44.17 million, when compared with the last year.
The company has spent $680.98 million cash to meet investing activities during the year as against cash outgo of $253.88 million in the last year.
Cash flow from financing activities was $171.91 million for the year as against cash outgo of $224.81 million in the last year period.
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