This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Lamar Advertising's CEO Discusses Q4 2011 Results - Earnings Call Transcript

With that I would like to turn the call over to Keith Istre to give you some color regarding Q4.

Keith Istre

All right, good morning, everybody. For the fourth quarter of ’11 we saw that the revenue came in slightly higher than our guidance at 4%. No one category contributed to that. Sean will get into more detail later, but it was a good quarter across the board. On our consolidated expenses on the last call, we talked about expenses running like they have all year in approximately the 2% range, but the consolidated expenses as you saw came in at 0.7 tenths of a percent. The main contributor to that downward or that decreased amount, was primary the bonuses that were paid to the officers throughout the corporation. In 2011, the officer core took less in bonus payments then they did in 2010 based on performance grids, and so in the fourth quarter we accrued approximately $2 million less for officer bonuses then we did last year. So that’s primarily what contributed to that.

EBITDA. You saw our margins were 43.7% for the quarter versus 41.8% last year. So we picked up a couple of points. To recap, the full year revenue growth on a pro forma basis was 3.3%, our consolidated expense growth was 2.4%, which is about what we guided to last year at this time. EBITDA was up 4.6% for the year and EBITDA margins were 43% for 2011 versus 42.4% last year.

On the guidance for 2012 Q1, we gave you a number for revenue up approximately 3% on a pro forma basis. For the expenses for 2012 we will tell you that as of right now our projections for the year are up approximately 3%, slightly higher than they were in 2011. But the expenses for the first quarter will be higher than what they will average for the year, in fact we are expecting pro forma expense growth in Q1 of ’12 of approximately 5%. And a part of that is real and part of it is timing.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs