Lamar Advertising (NASDAQ: LAMR) Reports EPS of $(0.44) vs. $(0.21) Estimate; Revenues $255.2 vs. $255.15M Estimate

Lamar Advertising Company LAMR announces the Company's operating results for the first quarter ended March 31, 2011. First Quarter Results Lamar reported net revenues of $255.2 million for the first quarter of 2011 versus $244.1 million for the first quarter of 2010, a 4.5% increase. Operating income for the first quarter of 2011 was $25.6 million as compared to $10.8 million for the same period in 2010. There was a net loss of $13.2 million for the first quarter of 2011 compared to a net loss of $24.8 million for the first quarter of 2010. Adjusted EBITDA, (defined as operating income before non-cash compensation, depreciation and amortization and gain on disposition of assets - see reconciliation to net loss at the end of this release) for the first quarter of 2011 was $95.2 million versus $90.8 million for the first quarter of 2010, a 4.8% increase.