May 9, 2011
Kristen

Lamar Future remains unstable as First quarter reports disappoint

Lamar Advertising Co. has reduced its losses in the first quarter despite weak local ad spending a large revenue source for the firm. WJS.com reported Wednesday the outdoor advertising company indicated a loss of $ 13.3 million or 14 cents per share, a significant increase from the first quarter loss of $ 24.9 million, or 27 cents per share, the company reported last year.

While the Louisiana based advertising firm shares slid nearly 10 percent to $28.82 in afternoon trading they showed a profit gain of 4.5% bringing last years $244.1 million recorded revenue to $255.2 showing some promise.

Lamar said it expects second quarter revenue to total approximately $ 296 million, a 3 percent increase from the previous year yet still falling short of the $302.4 million Wall Street called for.

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