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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (7451)	10/2/1998 11:22:00 AM
From: Thomas M.	Read Replies (1) \| Respond to of 86076

From Yahoo: "Outdoor Systems is an out-of-home media company operating 98,300 bulletin, poster, mall and transit advertising displays in 90 metropolitan markets in the U.S. and 13 Canadian markets. For the six months ended 6/98, net revenues rose 78% to $320.6 million. Net income before extraordinary item increased from $7.1 million to $14.8 million. Revenues reflect recent acquisition activity. Earnings benefitted due to efficiencies realized from economies of scale." The last sentence is a lie, of course. Consolidating the billboard industry is a big part of their plan. If somone can explain the economies of scale there, I will cover my imaginary short position. <g> The great thing is, even if the biz is truly good, it's not worth 100 times fake (hide the costs in the acquisition charges) earnings. Tom