$LAMR
LAMAR ADVERTISING CO/NEW

2013 Q1 Form 10-Q Financial Statement

#000119312513207797 Filed on May 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $276.6M $266.2M
YoY Change 3.89% 4.32%
Cost Of Revenue $106.5M $103.4M
YoY Change 3.0% 3.82%
Gross Profit $170.1M $162.8M
YoY Change 4.48% 4.56%
Gross Profit Margin 61.5% 61.15%
Selling, General & Admin $72.10M $65.60M
YoY Change 9.91% 4.79%
% of Gross Profit 42.39% 40.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $73.90M $72.40M
YoY Change 2.07% -2.03%
% of Gross Profit 43.45% 44.47%
Operating Expenses $151.7M $137.9M
YoY Change 10.01% 1.1%
Operating Profit $19.06M $25.79M
YoY Change -26.12% 33.64%
Interest Expense $36.70M $39.91M
YoY Change -8.05% -191.55%
% of Operating Profit 192.6% 154.75%
Other Income/Expense, Net -$36.67M -$69.83M
YoY Change -47.48%
Pretax Income -$17.62M -$44.04M
YoY Change -59.99% 144.64%
Income Tax -$7.354M -$21.22M
% Of Pretax Income
Net Earnings -$10.26M -$22.82M
YoY Change -55.02% 72.85%
Net Earnings / Revenue -3.71% -8.57%
Basic Earnings Per Share -$0.25
Diluted Earnings Per Share -$109.6K -$0.25
COMMON SHARES
Basic Shares Outstanding 93.97M shares 93.11B shares
Diluted Shares Outstanding 93.97M shares 93.11B shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.50M $35.90M
YoY Change 110.31% 10.8%
Cash & Equivalents $75.47M $35.87M
Short-Term Investments
Other Short-Term Assets $31.91M $100.9M
YoY Change -68.38% 3.38%
Inventory
Prepaid Expenses $61.74M
Receivables $158.2M $144.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $335.7M $281.6M
YoY Change 19.21% 2.74%
LONG-TERM ASSETS
Property, Plant & Equipment $1.164B $1.170B
YoY Change -0.5% -6.27%
Goodwill $1.486B
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $42.84M $82.30M
YoY Change -47.95% 0.61%
Total Long-Term Assets $3.175B $3.135B
YoY Change 1.27% -5.09%
TOTAL ASSETS
Total Short-Term Assets $335.7M $281.6M
Total Long-Term Assets $3.175B $3.135B
Total Assets $3.511B $3.417B
YoY Change 2.75% -4.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.53M $12.70M
YoY Change 22.29% -5.22%
Accrued Expenses $108.9M $90.80M
YoY Change 19.98% 2.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $33.32M $26.20M
YoY Change 27.16% 376.36%
Total Short-Term Liabilities $199.0M $168.7M
YoY Change 17.96% 13.6%
LONG-TERM LIABILITIES
Long-Term Debt $2.122B $2.161B
YoY Change -1.84% -8.07%
Other Long-Term Liabilities $17.15M $196.9M
YoY Change -91.29% 3.69%
Total Long-Term Liabilities $2.139B $2.358B
YoY Change -9.31% -7.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $199.0M $168.7M
Total Long-Term Liabilities $2.139B $2.358B
Total Liabilities $2.630B $2.596B
YoY Change 1.32% -6.34%
SHAREHOLDERS EQUITY
Retained Earnings -$680.3M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $893.8M
YoY Change
Treasury Stock Shares 17.22M shares
Shareholders Equity $880.7M $821.1M
YoY Change
Total Liabilities & Shareholders Equity $3.511B $3.417B
YoY Change 2.75% -4.49%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income -$10.26M -$22.82M
YoY Change -55.02% 72.85%
Depreciation, Depletion And Amortization $73.90M $72.40M
YoY Change 2.07% -2.03%
Cash From Operating Activities $51.72M $36.70M
YoY Change 40.92% 42.26%
INVESTING ACTIVITIES
Capital Expenditures $25.79M $19.75M
YoY Change 30.59% -168.57%
Acquisitions $5.337M $6.083M
YoY Change -12.26%
Other Investing Activities -$3.600M -$4.300M
YoY Change -16.28% -960.0%
Cash From Investing Activities -$29.36M -$24.04M
YoY Change 22.11% -15.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$2.836M -$1.727M
YoY Change 64.22%
Debt Paid & Issued, Net $8.147M $22.00K
YoY Change 36931.82%
Cash From Financing Activities -5.451M -10.60M
YoY Change -48.55% -81.41%
NET CHANGE
Cash From Operating Activities 51.72M 36.70M
Cash From Investing Activities -29.36M -24.04M
Cash From Financing Activities -5.451M -10.60M
Net Change In Cash 16.92M 2.067M
YoY Change 718.34% -103.47%
FREE CASH FLOW
Cash From Operating Activities $51.72M $36.70M
Capital Expenditures $25.79M $19.75M
Free Cash Flow $25.93M $16.96M
YoY Change 52.95% -68.95%

Facts In Submission

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CY2012Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
72373000
CY2012Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2362000
CY2012Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
18886000
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
25793000
CY2012Q1 us-gaap Advertising Revenue Cost
AdvertisingRevenueCost
103423000
CY2012Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
91000
CY2012Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
72373000
CY2012Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-21664000
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
-22816000
CY2012Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-69828000
CY2012Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-1412000
CY2012Q1 us-gaap Costs And Expenses
CostsAndExpenses
240445000
CY2012Q1 us-gaap Advertising Revenue
AdvertisingRevenue
266238000
CY2012Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
869000
CY2012Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
53095000
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93114125000 shares
CY2012Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-22135000
CY2012Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-503000
CY2012Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
shares
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-10595000
CY2012Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
91000
CY2012Q1 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
100000000
CY2012Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-21219000
CY2012Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
295000
CY2012Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19747000
CY2012Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-22907000
CY2012Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
936000
CY2012Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
343478 shares
CY2012Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-5664000
CY2012Q1 us-gaap Interest Expense
InterestExpense
39914000
CY2012Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-29972000
CY2012Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2596000
CY2012Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1750000
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
36702000
CY2012Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
500000000
CY2012Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4497000

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