Lamar posts $5 mil loss

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Lamar Advertising Co., Baton Rouge, La., reported a net loss of $5 million for the second quarter, compared with a net loss of $1.1 million for the same period a year ago. Net revenue for the outdoor advertising company climbed 40.3% to $97.8 million. In the quarter, Lamar entered into agreements to acquire additional billboard assets for a total purchase price of about $30 million. First-half results: net loss of $15.7 million vs. a year-ago net loss of $5.7 million, net revenue up 43.3% to $183.6 million.

Copyright August 1999, Crain Communications Inc.

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