BOCA RATON, Fla.-SBA Communications Corp. reported revenues for the third quarter grew to $24.6 million, an increase of 85.1 percent from revenues of $13.3 million during the same quarter last year.
SBA attributed the increase in revenues to higher site-leasing and site-development revenues. The quarterly revenues were the highest in the company’s history.
Earnings before interest, taxes, depreciation, amortization and non-cash compensations charges increased to $3 million during the quarter, compared with a loss of $900,000 during the same quarter last year.
Pro forma same tower revenue increased 31 percent from last year’s third quarter.
“We are well-positioned for continued growth,” said Steven E. Bernstein, chief executive officer of SBA. “There remain an abundance of opportunities to add quality tower assets and the demand for our services is very strong.
“Most importantly, we are enjoying great success in adding new tenants to our towers,” continued Bernstein. “Demand from wireless voice carriers is very high, and we are starting to see increased activity from the newer wireless technologies.”
The company’s tower count totaled 956 towers at the end of the quarter, nearly double the 494 towers it owned at the end of last year.
