Lamar Advertising Company (LAMR) has reported 18.57 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $41.79 million, or $0.42 a share in the quarter, compared with $51.31 million, or $0.53 a share for the same period last year.    

Revenue during the quarter went up marginally by 2.31 percent to $346.36 million from $338.53 million in the previous year period.

Total expenses were $270.90 million for the quarter, up 7.63 percent or $19.19 million from year-ago period. Operating margin for the quarter contracted 386 basis points over the previous year period to 21.79 percent.

Operating income for the quarter was $75.46 million, compared with $86.83 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $128.33 million compared with $130.19 million in the prior year period. At the same time, adjusted EBITDA margin contracted 141 basis points in the quarter to 37.05 percent from 38.46 percent in the last year period.  

"Our first-quarter revenue performance was in line with our guidance for low single-digit growth on an acquisition-adjusted basis," said chief executive Sean Reilly. "We are pleased that the tone of business is improving. Consequently, we are maintaining our previously provided AFFO guidance."

The company has spent $35.42 million cash to meet investing activities during the quarter as against cash outgo of $517.55 million in the last year period.

The company has spent $3.17 million cash to carry out financing activities during the quarter as against cash inflow of $471 million in the last year period.