$LAMR
LAMAR ADVERTISING CO/NEW

2015 Q2 Form 10-Q Financial Statement

#000119312515281221 Filed on August 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $344.2M $330.4M
YoY Change 4.18% 0.82%
Cost Of Revenue $116.0M $114.3M
YoY Change 1.49% 3.25%
Gross Profit $228.3M $216.2M
YoY Change 5.6% -0.37%
Gross Profit Margin 66.32% 65.43%
Selling, General & Admin $80.40M $69.00M
YoY Change 16.52% -0.86%
% of Gross Profit 35.22% 31.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $48.80M $71.10M
YoY Change -31.36% -1.8%
% of Gross Profit 21.38% 32.89%
Operating Expenses $129.1M $144.1M
YoY Change -10.41% -0.21%
Operating Profit $99.35M $73.04M
YoY Change 36.02% -0.38%
Interest Expense $24.71M $26.09M
YoY Change -5.27% -31.15%
% of Operating Profit 24.87% 35.72%
Other Income/Expense, Net -$24.69M -$46.89M
YoY Change -47.35% 23.93%
Pretax Income $74.66M $26.15M
YoY Change 185.52% -26.3%
Income Tax $15.30M $10.73M
% Of Pretax Income 20.49% 41.02%
Net Earnings $59.36M $15.42M
YoY Change 284.9% -33.3%
Net Earnings / Revenue 17.24% 4.67%
Basic Earnings Per Share $0.61 $0.16
Diluted Earnings Per Share $0.61 $0.16
COMMON SHARES
Basic Shares Outstanding 96.41M shares 95.17M shares
Diluted Shares Outstanding 96.48M shares 95.59M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.50M $34.40M
YoY Change -20.06% -71.07%
Cash & Equivalents $27.46M $34.42M
Short-Term Investments
Other Short-Term Assets $39.32M $40.57M
YoY Change -3.08% 20.85%
Inventory
Prepaid Expenses $65.84M $62.80M
Receivables $183.3M $184.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $316.7M $332.2M
YoY Change -4.66% -17.25%
LONG-TERM ASSETS
Property, Plant & Equipment $1.086B $1.096B
YoY Change -0.9% -4.7%
Goodwill $1.526B $1.504B
YoY Change 1.48% 0.84%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $39.02M $37.82M
YoY Change 3.18% -11.59%
Total Long-Term Assets $3.053B $3.044B
YoY Change 0.29% -3.57%
TOTAL ASSETS
Total Short-Term Assets $316.7M $332.2M
Total Long-Term Assets $3.053B $3.044B
Total Assets $3.370B $3.376B
YoY Change -0.2% -5.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.17M $18.12M
YoY Change 5.8% 11.14%
Accrued Expenses $95.12M $97.13M
YoY Change -2.07% -2.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $17.55M $15.64M
YoY Change 12.25% -95.93%
Total Short-Term Liabilities $230.9M $235.2M
YoY Change -1.83% -57.95%
LONG-TERM LIABILITIES
Long-Term Debt $1.923B $1.912B
YoY Change 0.56% 8.36%
Other Long-Term Liabilities $26.29M $23.23M
YoY Change 13.14% 21.16%
Total Long-Term Liabilities $1.949B $1.935B
YoY Change 0.71% 8.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $230.9M $235.2M
Total Long-Term Liabilities $1.949B $1.935B
Total Liabilities $2.386B $2.491B
YoY Change -4.2% -5.98%
SHAREHOLDERS EQUITY
Retained Earnings -$664.8M $716.2M
YoY Change -192.82% -208.65%
Common Stock $1.653B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.099M $896.8M
YoY Change -99.32% 0.33%
Treasury Stock Shares 104.8K shares 17.27M shares
Shareholders Equity $983.4M $885.7M
YoY Change
Total Liabilities & Shareholders Equity $3.370B $3.376B
YoY Change -0.2% -5.12%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $59.36M $15.42M
YoY Change 284.9% -33.3%
Depreciation, Depletion And Amortization $48.80M $71.10M
YoY Change -31.36% -1.8%
Cash From Operating Activities $133.5M $110.8M
YoY Change 20.49% 10.47%
INVESTING ACTIVITIES
Capital Expenditures -$27.40M -$31.90M
YoY Change -14.11% 18.59%
Acquisitions
YoY Change
Other Investing Activities -$38.50M $300.0K
YoY Change -12933.33% -101.16%
Cash From Investing Activities -$65.80M -$31.50M
YoY Change 108.89% -40.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -73.10M -114.1M
YoY Change -35.93% 3357.58%
NET CHANGE
Cash From Operating Activities 133.5M 110.8M
Cash From Investing Activities -65.80M -31.50M
Cash From Financing Activities -73.10M -114.1M
Net Change In Cash -5.400M -34.80M
YoY Change -84.48% -178.91%
FREE CASH FLOW
Cash From Operating Activities $133.5M $110.8M
Capital Expenditures -$27.40M -$31.90M
Free Cash Flow $160.9M $142.7M
YoY Change 12.75% 12.19%

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dei Document Type
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dei Entity Registrant Name
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LAMAR ADVERTISING CO/NEW
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1420000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17306000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
5692000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-4301000
us-gaap Costs And Expenses
CostsAndExpenses
480126000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-110077000
us-gaap Advertising Revenue Cost
AdvertisingRevenueCost
229183000
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
97955000
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
35080000
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
182000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
119935000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
155000000
us-gaap Share Based Compensation
ShareBasedCompensation
11387000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
1856000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
12624000
lamr Preferred Stock Dividend Shares
PreferredStockDividendShares
31.90
lamr Description Of Position On Senior Credit Facility Transfers To Parent Company Not Subject To Additional Restrictions
DescriptionOfPositionOnSeniorCreditFacilityTransfersToParentCompanyNotSubjectToAdditionalRestrictions
The total debt ratio was less than 6.0 to 1 and Lamar Media's senior debt ratio was less than 3.5 to 1; therefore, dividends or distributions to Lamar Advertising were not subject to any additional restrictions under the senior credit facility.
lamr Description Of Provisions On Senior Credit Facility Transfers To Parent Company Subject To Additional Restrictions
DescriptionOfProvisionsOnSeniorCreditFacilityTransfersToParentCompanySubjectToAdditionalRestrictions
(i) the total debt ratio is equal to or greater than 6.0 to 1 or (ii) the senior debt ratio is equal to or greater than 3.5 to 1.
lamr Payments Of Revolving Credit Facility
PaymentsOfRevolvingCreditFacility
107000000
CY2014Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
415530 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95590222 shares
CY2014Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.83
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.16
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
95174692 shares
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-669000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
26148000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
73038000
CY2014Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
16091000
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-46890000
CY2014Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
1020000
CY2014Q2 us-gaap Advertising Revenue
AdvertisingRevenue
330433000
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
15331000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
15422000
CY2014Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
43000
CY2014Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-20847000
CY2014Q2 us-gaap Interest Expense
InterestExpense
26086000
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10726000
CY2014Q2 us-gaap Advertising Revenue Cost
AdvertisingRevenueCost
114277000
CY2014Q2 us-gaap Costs And Expenses
CostsAndExpenses
257395000
CY2014Q2 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
71049000
CY2014Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
17035000
CY2014Q2 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
91000
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
56054000
CY2015Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
77814 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96482919 shares
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.69
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.61
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96405105 shares
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-407000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
74658000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
99346000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
59767000
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-24688000
CY2015Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
191000
CY2015Q2 us-gaap Advertising Revenue
AdvertisingRevenue
344249000
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
59269000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
59360000
CY2015Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
24000
CY2015Q2 us-gaap Interest Expense
InterestExpense
24712000
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15298000
CY2015Q2 us-gaap Advertising Revenue Cost
AdvertisingRevenueCost
115951000
CY2015Q2 us-gaap Costs And Expenses
CostsAndExpenses
244903000
CY2015Q2 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
48725000
CY2015Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
19689000
CY2015Q2 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
91000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
60729000

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