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Clear Channel Outdoor Holdings, Inc. Reports Results For Second Quarter 2012

Key Highlights

The Company’s key highlights include:

  • Installing 49 new digital billboards for a total of 963 across 37 U.S. markets;
  • Winning one of the largest advertising contracts in Norwegian history to manage all of the advertising across public transportation in the cities of Oslo and Akershus on behalf of Sporveis-Annonsene AS, one of Norway’s public transport companies;
  • Renewing one of the largest out-of-home advertising contracts in Sweden with SL, Stockholm’s public transportation company; and
  • Announcing Clear Channel Airports’ multi-year advertising contract extension with the Denver International Airport, creating one of the largest digital footprints of any North American airport; as well as, launching Clear Channel Airports’ new enhanced version of its flySMART mobile app to better serve airline passengers.

Revenues, Operating Expenses and OIBDAN by Segment

 
(In thousands)   Three Months Ended

June 30,

 

%

2012   2011   Change
Revenues 1:  
Americas $ 320,678 $ 318,217 1 %
International   440,648     470,991 (6 %)
Consolidated revenues $ 761,326   $ 789,208 (4 %)
 
Operating expenses 1, 2:
Americas $ 186,644 $ 188,371 (1 %)
International   350,422     367,663 (5 %)
Consolidated operating expenses $ 537,066   $ 556,034 (3 %)
 
OIBDAN 1:
Americas $ 134,034 $ 129,846 3 %
International 90,226 103,328 (13 %)
Corporate 1, 2   (27,798 ) (23,005 )
Consolidated OIBDAN $ 196,462   $ 210,169   (7 %)
 

Certain prior period amounts have been reclassified to conform to the 2012 presentation of financials throughout the press release.

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