August 8, 2012 / 10:38 AM / 5 years ago

Lamar Advertising revenue beats estimates

Aug 8 (Reuters) - Lamar Advertising Co posted better-than-expected quarterly revenue, but the billboard operator forecast third-quarter revenue below analyst estimates.

The 110-year-old company, which gets about 80 percent of its revenue from the U.S. market, f orecast third-quarter revenue of between $303 million and $306 million.

Analysts on average were expecting revenue of $307.1 million, according to Thomson Reuters I/B/E/S.

Lamar, which competes with Clear Channel Outdoor Holdings Inc and CBS Corp-held CBS Outdoor, operates in 44 U.S. states as well as Canada and Puerto Rico.

Net income rose to $13.9 million, or 15 cents per share in the second quarter, from $11.4 million, or 12 cents per share, a year earlier.

Revenue increased 3.9 percent to $304.9 million.

Analysts on average had expected earnings of 15 cents per share on revenue of $304 million.

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