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Boston Omaha Corporation Announces First Quarter 2019 Financial Results

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OMAHA, Neb.–(BUSINESS WIRE)–Boston Omaha Corporation (NASDAQ: BOMN) (the “Company”) announced its
financial results for the first quarter ended March 31, 2019 in
connection with filing its Quarterly Report on Form 10-Q with the
Securities and Exchange Commission.

We show below summary financial data for the first quarter of 2019 and
2018. Our Quarterly Report on Form 10-Q can be found at www.bostonomaha.com.

   

For the Three Months Ended
March 31,

2019   2018
Billboard Rentals, Net $6,780,390 $1,550,190
Premiums Earned 1,882,342 477,304
Insurance Commissions 355,147 765,184
Investment and Other Income 92,846 30,266
Total Revenues 9,110,725 2,822,944
 
Depreciation and Amortization Expense 3,691,835 1,089,028
 
Net Loss Attributable to Common Stockholders $(4,078,386) $(2,069,382)
Basic and Diluted Net Loss per Share $(0.18) $(0.13)
 
March 31, December 31,
2019 2018
Total Unrestricted Cash & Investments (1) $97,670,791 $103,950,458
Total Assets 380,093,009 332,194,521
Total Liabilities 63,881,387 15,633,559
Total Noncontrolling Interest 1,470,969 1,345,578
Total Stockholders’ Equity $314,740,653 $315,215,384
 

(1) Investments is made up of short-term U.S. treasury securities
classified as securities available for sale.

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Our book value per share was $14.15 at March 31, 2019, compared to
$14.27 at December 31, 2018.

As of March 31, 2019, we had 21,183,327 shares of Class A common stock
and 1,055,560 shares of Class B common stock issued and outstanding.

As of May 6, 2019, we had 21,359,259 shares of Class A common stock and
1,055,560 shares of Class B common stock issued and outstanding.

About Boston Omaha Corporation

Boston Omaha Corporation is a public company engaged in several lines of
business, including outdoor advertising and surety insurance, and also
maintains investments in commercial real estate, residential
homebuilding and banking businesses.

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Forward-Looking Statements

Any statements in this press release about the Company’s future
expectations, plans and prospects, including statements about our
financing strategy, future operations, future financial position and
results, market growth, total revenue, as well as other statements
containing the words “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,”
“predict,” “project,” “should,” “target,” “will,” or “would” and similar
expressions, constitute forward-looking statements within the meaning of
the safe harbor provisions of The Private Securities Litigation Reform
Act of 1995. The Company may not actually achieve the plans, intentions
or expectations disclosed in the Company’s forward-looking statements,
and you should not place undue reliance on the Company’s forward-looking
statements. Actual results or events could differ materially from the
plans, intentions and expectations disclosed in the forward-looking
statements the Company make as a result of a variety of risks and
uncertainties, including risks related to the Company’s estimates
regarding the potential market opportunity for the Company’s current and
future products and services, the Company’s expectations regarding the
Company’s sales, expenses, gross margins and other results of
operations, and the other risks and uncertainties described in the “Risk
Factors” sections of the Company’s public filings with the Securities
and Exchange Commission. In addition, the forward-looking statements
included in this press release represent the Company’s views as of the
date hereof. The Company anticipates that subsequent events and
developments may cause the Company’s views to change. However, while the
Company may elect to update these forward-looking statements at some
point in the future, the Company specifically disclaim any obligation to
do so. These forward-looking statements should not be relied upon as
representing the Company’s views as of any date subsequent to the date
hereof.

Contacts

Boston Omaha Corporation
Catherine Vaughan, 617-875-8911
[email protected]

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