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SARASOTA, Fla.-Global Signal Inc. blames its fourth-quarter net losses of $18.8 million on costs from integrating and financing the sites it acquired from Sprint Corp. in May 2005. In 2004, the company posted fourth-quarter net losses of $4.1 million.
“2005 was a transformational year for Global Signal,” stated Wesley Edens, chairman, president and chief executive of Global Signal. We have grown from a small regional tower company to the third largest tower company with a national footprint.” For the year, Global Signal reported net losses of $39.7 million, compared to 2004’s net income of $6.9 million. The company owns about 11,000 towers in the United States.
