Lamar Advertising Co. (LAMR) reported that its first-quarter of 2013 net loss applicable to common stock narrowed to $6.16 million or $0.07 per share from $22.91 million or $0.25 per share in the first quarter of 2012.
Operating income for the first quarter of 2013 remained relatively constant over the same period in 2012 at $25.9 million.
Other expense declined to $36.67 million from $69.83 million last year.
Net revenues for the quarter were $283.5 million versus $266.2 million for the first quarter of 2012, a 6.5% increase.
Pro forma net revenue for the first quarter of 2013 increased 2.4% and pro forma Adjusted EBITDA increased 5.2% as compared to the first quarter of 2012.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share on revenues of $283.80 million for the quarter. Analysts' estimates typically exclude special items.
For the second quarter of 2013 the company expects net revenue to be approximately $322 million to $325 million. On a pro forma basis this represents an increase of approximately 2% to 3%. Ten analysts have consensus revenue estimate of $323.39 million for the second-quarter.
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