UPDATE 3-Lamar loss widens, sees Q1 rev below view; shares fall

giovedì 25 febbraio 2010 20:06
 

* Q4 loss $0.22/shr vs est loss $0.17/shr

* Q4 revenue $262.3 mln vs est $261.6 mln

* Sees Q1 rev $245 mln vs est $247.8 mln

* Shares fall as much as 9 percent (Adds comments from conference call, updates share movement)

By Sudipto Ganguly

BANGALORE, Feb 25 (Reuters) - Billboard operator Lamar Advertising Co's (LAMR.O: Quotazione) quarterly loss widened and revenue view fell short of estimates, as firms continue to curb advertising spend amid a weak economy.

Shares of the 108-year old company, which also operates logo signs and transit advertising displays, fell as much as 9 percent in early session on Nasdaq, but regained some of their losses to trade down about 2 percent at $29.07 in afternoon trade.

Analysts have been expecting a faster-than-expected turnaround in outdoor advertising, driven by shorter contracts, local advertising gains and demand for digital boards.

"It looks like 2010 is a recovery year. What we are seeing in the book is good momentum and every month is getting better," Chief Operating Officer Sean Reilly said in a conference call with analysts.   Continua...