BOCA RATON, Fla.-Tower operator SBA Communications Corp. announced a fourth-quarter net loss of $41.8 million, or 66 cents per share, compared with a net loss of $52.8 million or 98 cents per share in the same period last year.
The company, which has adjusted its results to the new leasing rules from the Securities and Exchange Commission, said revenue was $65.5 million as against $51.4 million in the year earlier period.
“We are very pleased to present our fourth-quarter results,” said Jeffrey A. Stoops, SBA’s president and chief executive officer. “We performed extremely well on our three primary goals-adjusted EBITDA and tower cash flow growth, improving cash flow and reduced leverage.”
Most of SBA’s peer companies have delayed their results releases until the end of the month due to the accounting changes.
