Global Signal Inc. said it recorded a fourth-quarter income of $4.1 million, amounting to a 34.4-percent leap over the same period in 2003 when it had a net income of $3.1 million.
These figures give its shareholders 8 cents per share for the quarter compared with 7 cents per share in the year-ago period.
For the full year, the tower operator had a net income of $6.9 million, or $1.04 per diluted common share.
The company said its net income before interest, income tax, depreciation, amortization and accretion, non-cash stock-based compensation expense and loss on early extinguishment of debt increased 48.3 percent to $29.5 million, or 55 cents per diluted common share.
The company recently acquired about 6,600 tower sites from Sprint Corp. for $1.2 billion.
“These communications sites generate a substantial amount of their revenue from wireless telephony and investment-grade tenants, and we believe they are located in high-growth areas,” said the company.
Crown Castle International said it has filed a request with the Securities and Exchange Commission to extend its March 16 deadline for its results for 15 days.
“Crown Castle has filed the extension in order to finalize corrections in the accounting treatment relating to certain lease accounting matters and to complete the preparation and review of its filing following its completion of a review of its lease accounting practices,” said the company.
Global Signal had put off its results to correct its leasing-accounting methods.
