Lamar Advertising Co. (LAMR) Wednesday reported slightly higher profit for the fourth quarter on the back of increased revenue. Earnings per share however, came in below the Street view.
For the period, the firm posted net income of $7.21 million, up from $6.37 million a year back. On a per share basis, earnings edged up to $0.08 from $0.07 last year.
Thirteen analysts on average polled by Thomson Reuters estimated earnings per share of $0.10 for the quarter. Analysts estimates typically exclude one-time items.
Revenue for the three months stood at $305.5 million, up from $288.23 million a year back and consensus estimate of $304.27 million.
Looking forward, for the first quarter of 2013, the firm expects net revenue to be approximately $282 million to $285 million. Analysts however are expecting revenue to be lower at $280.11 million.
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