HOUSTON-Crown Castle International Corp. reported increased site rental revenue and improved its net loss for the fourth quarter.
The company noted that site rental revenue came in at $155.4 million, up 11.2 percent from the $139.8 million posted during the fourth quarter of 2004. Site rental gross margins increased 15.2 percent to $105.5 million from the $91.6 million reported during fourth-quarter 2004.
For the full year, site rental revenue increased 10.9 percent to $597.1 million from $583.3 million during 2004. Site rental gross margins on the year were $399.8 million, up 12.9 percent from $354 million during 2004.
The company’s net loss totaled $23.3 million during the quarter, which included a $9 million charge from the cumulative effect of a change in accounting principle, CCI said. In the fourth quarter of 2004, CCI reported a net loss of $87.7 million, which included $39.4 million of losses associated with retirement of debt. Net loss per share was 21 cents, compared with a net loss per share of 44 cents during the fourth quarter of 2004.
For the full year, CCI reported a net loss of $401.5 million, including the accounting charge and $295.8 million in losses from retiring debt. That compares with a net gain of $233.1 million for all of 2004, which included more than $530,000 of income from discontinued operations and $63.8 million in losses from the retirement of debt. Net loss per share for 2005 was $2.07, compared with net income of 88 cents per share for 2004.
The company offered guidance for the first-quarter and full-year 2006, including site rental revenue expectations of between $159 million and $161 million for the quarter and between $660 million and $670 million for the year. The company further expects to report a net loss of between $14 million and $22 million, or a loss of 6 cents to 10 cents per share, for the quarter, and a loss of between $46 million and $85 million, or 22 cents to 40 cents per share, for the full year.
