This is kind of old news, but it says a lot about OSI.
First Quarter 1999
Net Revenues Up 17.4 percent
EBITDA Up 26.1 percent
Net Income Up 74.1 percent
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Outdoor Systems Inc. (NYSE:OSI.N) Tuesday reported record net
revenues of $172.2 million for the first quarter of 1999 vs.
$146.7 million for the first quarter of 1998.
EBITDA for the first quarter of 1999 was $79.8 million vs.
$63.3 million for the first quarter of 1998. Net income was
$4.8 million for the first quarter of 1999 vs. $2.7 million for the
first quarter of 1998.
"We are delighted with these outstanding results for the first
quarter," said Arte Moreno, president and chief executive officer of
Outdoor Systems Inc. "We are particularly proud of the strides we have
made in preparing our company for the loss of tobacco, and we are
excited about the bright future of our industry and our company."
Outdoor Systems Inc. is the largest out-of-home media company in
the United States, Canada and Mexico, operating approximately 237,500
bulletins, posters, transit shelters, subway, mall displays and sports
marketing services in North America.
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Outdoor Systems Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(Dollars in thousands)
Three Months
Ended
March 31,
1999 1998
Revenues:
Outdoor advertising $189,889 $163,742
Less agency commissions and discounts 22,440 21,138
Total 167,449 142,604
Lease, printing and other revenues 4,765 4,118
Netrevenues 172,214 146,722
Operating Expenses:
Direct advertising 82,608 74,873
General and administrative 9,809 8,554
Depreciation and amortization 35,426 27,037
________ ________
127,843 110,464
Operating income 44,371 36,258
Other:
Foreign currency transaction (gain) loss (546)
Interest expense 37,256 31,387
Income before income tax expense 7,661 4,871
Income Tax Provision 2,911 2,143
Net Income $4,750 $2,728
Basic and Diluted Income Per Share:
Basic:
Net income $.03 $.02
Weighted average number of shares 184,452,828 181,731,867
Diluted:
Net income $.02 $.01
Weighted average number of shares 205,557,530 202,079,391
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CONTACT: Mullen Public Relations, Phoenix
Thomas Frey, 602/222-4343
KEYWORD: ARIZONA INTERNATIONAL CANADA LATIN AMERICA
INDUSTRY KEYWORD: PUBLISHING EARNINGS |
