CARY, N.C.—SpectraSite Holdings Inc. reported results for the fourth quarter and year ended Dec. 31. The company’s revenues for the quarter totaled $131.3 million, compared with $103.4 million for fourth-quarter 2000.
Revenues for the year totaled $473 million, compared with $346.9 million for 2000.
SpectraSite reported a net loss for the fourth quarter and year of $162.7 million, or $1.06 per share, and $654.8 million, or $4.36 per share, respectively. This compares with fourth quarter and year-end 2000 net loss of $45.8 million, or 33 cents per share, and $157.6 million, or $1.31 per share, respectively.
Steve Clark, president and chief executive officer of SpectraSite, said 2001 was a solid year for the company.
“We successfully integrated more than 1,900 SBC towers into our portfolio, launched our in-building wireless division and completed our new build program for Nextel. Site leasing cash flow has grown from 56 percent of total cash flow to 71 percent, and we expect this trend to continue,” Clark said.
During the fourth quarter SpectraSite said it added 375 towers, bringing its total portfolio to 7,925. Of those towers added, 197 were built and 178 were acquired.
