Lamar Advertising Company’s quarterly loss widened and revenue fell short of estimates, according to quarterly financials that were just released by the company. Shares of the 108 year old company fell as much as 9% after the announcement, but then regained some of that territory later in the day.
Its fourth quarter loss increased to $19.7 million from $8.6 million for the same period last year. Revenue declined 6% to $262.3 million.
“It looks like 2010 is a recovery year” said Chief Operating Officer Sean Reilly. “What we are seeing in the book is good momentum, and every month is getting better”.
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