BATON ROUGE, La. (AP) — BATON ROUGE, La. (AP) — Lamar Advertising Co. (LAMR) on Friday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Baton Rouge, Louisiana, said it had funds from operations of $194.5 million, or $1.91 per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $66 million, or 65 cents per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $535.5 million in the period.
For the year, the company reported funds from operations of $749.7 million. Revenue was reported as $2.03 billion.
Lamar expects full-year funds from operations in the range of $7.40 to $7.55 per share.
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