Clear Channel Outdoor Holdings Inc. Reports Operating Results (10-Q)

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Nov 02, 2012
Clear Channel Outdoor Holdings Inc. (CCO, Financial) filed Quarterly Report for the period ended 2012-09-30.

Cameco Corp has a market cap of $2.36 billion; its shares were traded at around $0 with and P/S ratio of 0.8. Cameco Corp had an annual average earning growth of 19.2% over the past 10 years.

Highlight of Business Operations:

· Consolidated revenue decreased $17.3 million including negative foreign exchange movements of $24.9 million during the three months ended September 30, 2012 and decreased $44.1 million including negative foreign exchange movements of $73.7 million during the nine months ended September 30, 2012 compared to the same periods of 2011. Excluding foreign exchange impacts, consolidated revenue increased $7.6 million and $29.6 million, respectively, over the comparable three-month and nine-month periods in the prior year.

Our consolidated revenue during the third quarter of 2012 decreased $17.3 million including negative movements in foreign exchange of $24.9 million compared to the same period of 2011. Excluding the impact of foreign exchange movements, consolidated revenue increased $7.6 million. Americas revenue increased $8.1 million driven primarily by our bulletin revenue growth as a result of our continued digital display deployments during 2012 and 2011 and revenue growth from our airports business. International revenue decreased $25.4 million including negative movements in foreign exchange of $24.7 million compared to the same period of 2011. Excluding the impact of foreign exchange movements, International revenue decreased $0.7 million. Revenue from our street furniture business was a primary driver of growth in certain countries, partially offset by declines in other countries as a result of weakened macroeconomic conditions and the impact of businesses divested during the quarter.

movements, revenue increased $29.6 million. Americas revenue increased $21.1 million, driven primarily by our bulletin revenue growth as a result of our continued deployment of new digital displays during 2012 and 2011 and revenue growth from our airports business. International revenue decreased $65.2 million including negative movements in foreign exchange of $72.8 million compared to the same period of 2011. Excluding the impact of foreign exchange movements, revenue increased $7.6 million. Street furniture and billboard revenue in certain countries drove our revenue growth, which was partially offset by declines in other countries as a result of weakened macroeconomic conditions.

SG&A expenses increased $5.6 million including a decline of $6.0 million due to the effects of movements in foreign exchange during the third quarter of 2012 compared to the same period of 2011. SG&A expenses increased $4.1 million in our Americas segment primarily due to higher personnel costs and costs associated with strategic revenue and cost initiatives. Our International SG&A expenses increased $1.5 million including a $5.6 million decrease due to the effects of movements in foreign exchange, offset by higher expenses related to revenue and cost initiatives in certain markets.

SG&A expenses increased $24.9 million including a decrease of $20.1 million due to the effects of movements in foreign exchange during the nine months ended September 30, 2012 compared to the same period of 2011. SG&A expenses in our Americas segment increased $2.8 million due to increased personnel costs and costs associated with strategic revenue and cost initiatives partially offset by a favorable court ruling resulting in a $7.8 million decrease in expenses. Our International SG&A expenses increased $22.1 million including a $20.0 million decline due to the effects of movements in foreign exchange. The increase was primarily due to $22.7 million of expense related to the negative impact of litigation in Latin America, including expenses related to the Brazil litigation discussed further in Item 1 of Part II of this Quarterly Report on Form 10-Q. Also contributing to the increase were additional costs related to revenue and cost initiatives.

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