Lamar Advertising Company (LAMR) reported that its second-quarter net income applicable to common stock decreased to $15.33 million or $0.16 per share, from $23.03 million or $0.24 per share, last year. AFFO per share was $1.08 compared to $1.05 prior year.
On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.37 for the quarter. Analysts' estimates typically exclude special items.
Net revenues increased to $330.43 million from $327.74 million, a year ago. Analysts expected revenue of $333.21 million for the quarter. Pro forma adjusted net revenue increased 2.1% to $334.9 million.
For the third quarter of 2014, the company expects adjusted net revenue to be approximately $330.0 million to $334.0 million. Analysts expect the company to report third-quarter revenue of $331.92 million.
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