BOCA RATON, Fla.-SBA Communications Corp. wrapped up this week’s round of earnings results from wireless tower companies.
The company said it garnered total revenues of $58.7 million, up from $47.6 million a year ago. Of that, site-leasing revenues made up $37 million and site-development revenues accounted for $21.8 million.
Earnings before interest, taxes, depreciation and amortization were $20.8 million, up 31.3 percent from a year ago. Net loss was also up at $24 million, or 42 cents per share, vs. a net loss of $19.7 million, or 38 cents per share, last year.
“The combination of anticipated strong operating results and our debt and interest reduction activities to date lead us to anticipate positive free cash flow in the fourth quarter, which we expect will steadily increase over time,” said Jeffrey Stoops, SBA’s president and chief executive officer.
Shares of SBA were trading up slightly at $8.25 on the results.
SpectraSite Inc. will be the last tower company to issue third-quarter results Nov. 3.
