Lamar Advertising (LAMR) 8-K Other Events

Exhibit 99.(a)

ITEM 6.SELECTED FINANCIAL DATA

Lamar Advertising Company

     The selected consolidated statement of operations, statement of cash flows and balance sheet data presented below are derived from the audited consolidated financial statements of the Company, which are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The data presented below should be read in conjunction with the audited consolidated financial statements, related notes and Management’s Discussion and Analysis of Financial Condition and Results of Operations included herein.

	2008			2007			2006			2005			2004
	(Dollars in Thousands)
Statement of Operations Data:
Net revenues	$	1,198,419		$	1,209,555		$	1,120,091		$	1,021,656		$	883,510
Operating expenses:
Direct advertising expenses		436,556			408,397			390,561			353,139			302,157
General and administrative expenses		257,621			270,390			248,937			212,727			188,320
Depreciation and amortization		331,654			306,879			301,685			290,089			294,056
Gain on disposition of assets		(7,363	)		(3,914	)		(10,862	)		(1,119	)		(1,067	)
Total operating expenses		1,018,468			981,752			930,321			854,836			783,466
Operating income		179,951			227,803			189,770			166,820			100,044
Other expense (income):
Loss on extinguishment of debt		—			—			—			3,982			—
Gain on disposition of investment		(1,814	)		(15,448	)		—			—			—
Interest income		(1,202	)		(2,598	)		(1,311	)		(1,511	)		(495	)
Interest expense		170,352			168,601			112,955			90,671			76,079
Total other expense		167,336			150,555			111,644			93,142			75,584
Income before income taxes		12,615			77,248			78,126			73,678			24,460
Income tax expense		9,776			34,816			34,227			31,899			11,305
Net income		2,839			42,432			43,899			41,779			13,155
Preferred stock dividends		365			365			365			365			365
Net income applicable to common stock	$	2,474		$	42,067		$	43,534		$	41,414		$	12,790
Net income per share	$	0.03		$	0.43		$	0.42		$	0.39		$	0.12
Cash dividends declared per common share	$	—		$	3.25			—			—			—
Statement of Cash Flow Data:
Cash flows provided by operating activities(1)	$	346,520		$	354,469		$	364,517		$	347,257		$	323,164
Cash flows used in investing activities(1)	$	437,419		$	341,081		$	438,896		$	267,970		$	263,747
Cash flows provided by (used in) financing activities(1)	$	30,002		$	39,277		$	66,973		$	(104,069	)	$	(23,013	)
Balance Sheet Data(1)(2)
Cash and cash equivalents	$	14,139		$	76,048		$	11,796		$	19,419		$	44,201
Working capital		84,105			155,229			119,791			93,816			34,476
Total assets		4,117,025			4,081,763			3,924,228			3,741,234			3,692,282
Total debt (including current maturities)		2,814,449			2,692,667			1,990,468			1,576,326			1,659,934
Total long-term obligations		3,066,422			2,972,760			2,274,716			1,826,138			1,805,021
Stockholders’ equity		873,725			951,365			1,538,533			1,817,482			1,736,347

(1)	As of the end of the period.
(2)	Certain balance sheet reclassifications were made in order to be comparable to the current year presentation.

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