$LAMR
LAMAR ADVERTISING CO/NEW

2014 Q1 Form 10-Q Financial Statement

#000119312514187495 Filed on May 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $284.9M $276.6M
YoY Change 3.01% 3.89%
Cost Of Revenue $111.5M $106.5M
YoY Change 4.69% 3.0%
Gross Profit $173.4M $170.1M
YoY Change 1.94% 4.48%
Gross Profit Margin 60.86% 61.5%
Selling, General & Admin $69.00M $72.10M
YoY Change -4.3% 9.91%
% of Gross Profit 39.79% 42.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $69.50M $73.90M
YoY Change -5.95% 2.07%
% of Gross Profit 40.08% 43.45%
Operating Expenses $142.5M $151.7M
YoY Change -6.06% 10.01%
Operating Profit $31.14M $19.06M
YoY Change 63.44% -26.12%
Interest Expense $30.27M $36.70M
YoY Change -17.53% -8.05%
% of Operating Profit 97.19% 192.6%
Other Income/Expense, Net -$39.47M -$36.67M
YoY Change 7.62% -47.48%
Pretax Income -$8.324M -$17.62M
YoY Change -52.75% -59.99%
Income Tax -$3.487M -$7.354M
% Of Pretax Income
Net Earnings -$4.837M -$10.26M
YoY Change -52.87% -55.02%
Net Earnings / Revenue -1.7% -3.71%
Basic Earnings Per Share -$0.05
Diluted Earnings Per Share -$0.05 -$109.6K
COMMON SHARES
Basic Shares Outstanding 94.91M shares 93.97M shares
Diluted Shares Outstanding 94.91M shares 93.97M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $68.70M $75.50M
YoY Change -9.01% 110.31%
Cash & Equivalents $68.74M $75.47M
Short-Term Investments
Other Short-Term Assets $40.89M $31.91M
YoY Change 28.13% -68.38%
Inventory
Prepaid Expenses $63.25M $61.74M
Receivables $162.3M $158.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $343.1M $335.7M
YoY Change 2.21% 19.21%
LONG-TERM ASSETS
Property, Plant & Equipment $1.106B $1.164B
YoY Change -5.02% -0.5%
Goodwill $1.503B $1.486B
YoY Change 1.19%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $41.94M $42.84M
YoY Change -2.1% -47.95%
Total Long-Term Assets $3.083B $3.175B
YoY Change -2.88% 1.27%
TOTAL ASSETS
Total Short-Term Assets $343.1M $335.7M
Total Long-Term Assets $3.083B $3.175B
Total Assets $3.427B $3.511B
YoY Change -2.39% 2.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.08M $15.53M
YoY Change 16.44% 22.29%
Accrued Expenses $97.03M $108.9M
YoY Change -10.94% 19.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $776.0K $33.32M
YoY Change -97.67% 27.16%
Total Short-Term Liabilities $202.6M $199.0M
YoY Change 1.82% 17.96%
LONG-TERM LIABILITIES
Long-Term Debt $1.946B $2.122B
YoY Change -8.28% -1.84%
Other Long-Term Liabilities $21.78M $17.15M
YoY Change 26.98% -91.29%
Total Long-Term Liabilities $1.968B $2.139B
YoY Change -7.99% -9.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $202.6M $199.0M
Total Long-Term Liabilities $1.968B $2.139B
Total Liabilities $2.485B $2.630B
YoY Change -5.53% 1.32%
SHAREHOLDERS EQUITY
Retained Earnings -$652.5M -$680.3M
YoY Change -4.09%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $896.8M $893.8M
YoY Change 0.33%
Treasury Stock Shares 17.27M shares 17.22M shares
Shareholders Equity $942.1M $880.7M
YoY Change
Total Liabilities & Shareholders Equity $3.427B $3.511B
YoY Change -2.39% 2.75%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$4.837M -$10.26M
YoY Change -52.87% -55.02%
Depreciation, Depletion And Amortization $69.50M $73.90M
YoY Change -5.95% 2.07%
Cash From Operating Activities $62.60M $51.72M
YoY Change 21.03% 40.92%
INVESTING ACTIVITIES
Capital Expenditures $22.40M $25.79M
YoY Change -13.15% 30.59%
Acquisitions $4.281M $5.337M
YoY Change -19.79% -12.26%
Other Investing Activities -$3.400M -$3.600M
YoY Change -5.56% -16.28%
Cash From Investing Activities -$25.80M -$29.36M
YoY Change -12.11% 22.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$4.710M -$2.836M
YoY Change 66.08% 64.22%
Debt Paid & Issued, Net $23.00K $8.147M
YoY Change -99.72% 36931.82%
Cash From Financing Activities -600.0K -5.451M
YoY Change -88.99% -48.55%
NET CHANGE
Cash From Operating Activities 62.60M 51.72M
Cash From Investing Activities -25.80M -29.36M
Cash From Financing Activities -600.0K -5.451M
Net Change In Cash 36.20M 16.92M
YoY Change 114.01% 718.34%
FREE CASH FLOW
Cash From Operating Activities $62.60M $51.72M
Capital Expenditures $22.40M $25.79M
Free Cash Flow $40.20M $25.93M
YoY Change 55.02% 52.95%

Facts In Submission

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OtherGeneralAndAdministrativeExpense
15284000
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3912000
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
57677000
CY2014Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
91000
CY2014Q1 us-gaap Advertising Revenue Cost
AdvertisingRevenueCost
111508000
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-637000
CY2014Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
69526000
CY2014Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-5365000
CY2014Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1600000
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
35529000
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-25772000
CY2014Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
6073000
CY2014Q1 us-gaap Interest Expense
InterestExpense
30268000
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7697000
CY2014Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
897000
CY2014Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
510000000
CY2014Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
8775000
CY2014Q1 us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
10000
CY2014Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1283000
CY2014Q1 us-gaap Impairment Of Investments
ImpairmentOfInvestments
4069000
CY2014Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1425000
CY2014Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
2833000
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3487000
CY2014Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-646000
CY2014Q1 lamr Payments Of Senior Revolving Credit Facility
PaymentsOfSeniorRevolvingCreditFacility
150000000
CY2014Q1 lamr Repayment On Senior Secured Credit Facility
RepaymentOnSeniorSecuredCreditFacility
352106000
CY2014Q1 lamr Line Of Credit Facilities Maturity Date
LineOfCreditFacilitiesMaturityDate
2019-02-02

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