UPDATE 1-Lamar Advertising posts quarterly profit after 2 years

* Q3 EPS $0.01; meets estimates

* Q3 rev up 5 pct

* Sees Q4 rev $275 mln vs est $277.9 mln

Nov 4 (BestGrowthStock) – Billboard operator Lamar Advertising Co
(LAMR.O: ) posted its first profit in eight quarters and matched
analysts’ expectations, helped by higher ad spending, but
forecast fourth-quarter revenue below Street view.

Lamar, which also operates logo signs and transit
advertising displays, sees fourth-quarter revenue of $275
million, a tad below analysts’ expectations of $277.9 million,
according to Thomson Reuters I/B/E/S.

For the July-September quarter, Lamar reported net income
applicable to common stockholders of $690,000, or 1 cent a
share, compared with a loss of $4.9 million, or 5 cents a
share, a year ago.

Net revenue rose 5 pct to $286.1 million.

Analysts were expecting a profit of 1 cent a share, on
revenue of $285.2 million.

Shares of the company, which competes with CBS Outdoor — a
unit of CBS Corp (CBS.N: ) — and Clear Channel Outdoor Holdings
Inc (CCO.N: ), closed at $34.09 Wednesday on Nasdaq. The stock
has gained 22 percent since reporting second-quarter results in
August.
(Reporting by Supantha Mukherjee in Bangalore; Editing by
Roshni Menon)

UPDATE 1-Lamar Advertising posts quarterly profit after 2 years