CARY, N.C.-SpectraSite Holdings Inc. reported significantly increased revenues for the second quarter ended June 30 of $77.8 million, compared with $14.4 million reported for the same time the previous year.
SpectraSite had a net loss of $38.4 million, or 31 cents per share, compared with a net loss of $27.5 million, or $9.70 per share, recorded for second-quarter 1999.
“We added 404 new towers in strategic markets and 360 new collocation tenants to our tower portfolio, resulting in a record 47-percent annualized collocation lease-up rate for the second quarter,” said Steve Clark, SpectraSite’s chief executive officer. “With significant operating momentum and a solid financial position, our outlook for the second half of 2000 is strong.”
During the quarter the company also acquired Lodestar Towers Inc. for $178.6 million and entered a partnership with Transco in the United Kingdom to develop a tower business to support Europe’s growing communications industry, SpectraSite said.
