SBA trumpets fourth quarter as ‘solid finish’ to 2006

Tower company SBA Communications Corp. reported improvements in both revenues and net loss for the fourth quarter.
The company reported total revenues for the quarter of $96.8 million, up 33.6 percent from $72.4 million during the same period last year. Analysts had predicted revenues of $98.25 million. Site leasing revenues increased 73.5 percent to $74.4 million for the quarter, from $42.9 million in 2005.
Net loss for the quarter was $24.3 million, an improvement from net loss of $32.3 million for the same period last year.
“The fourth quarter was a solid finish to an exceptional year for SBA,” said Jeffrey Stoops, president and CEO of SBA. “In 2006 we increased the size of our tower portfolio by over 60 percent and re-established ourselves as nationwide tower owners.”
SBA said it purchased 61 towers and built 15 towers during the quarter, bringing its total tower portfolio to 5,551 towers.
The company offered guidance for the first quarter including site leasing revenues of between $74.5 million and $76.5 million and total revenues of between $93.5 million and $97.5 million .
SBA’s stock was down just slightly after the news to around $29.43 per share.