Lamar reported net revenues of $149.5M for the fourth quarter of 1999 versus $87.0M for the fourth quarter of 1998 and operating cash flow (EBITDA) of $69.6M for the fourth quarter of 1999 versus $41.1M for the fourth quarter of 1998.
There was a net loss of $25.4M for the fourth quarter of 1999 compared to a net loss of $7.9M for the fourth quarter of 1998.
For the twelve months ended December 31, 1999, net revenue was $444.1M, operating cash flow was $206.7M and there was a net loss of $44.5M compared to net revenue of $288.6M, operating cash flow of $134.8M and a net loss of $11.9M, for the twelve months ended December 31, 1998.
Depreciation, amortization and interest expense for the fourth quarter of 1999 were significantly higher than the previous three quarters due to the closing of the AMFM, Inc. transaction on September 15, 1999. The purchase price was approximately $1.6B.
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