Nation & World



Jan 27, 7:13 PM EST

Crown Castle posts 4th-quarter profit

Buy AP Photo Reprints
Your Questions Answered
Ask AP: Super Bowl ads, reporting on disasters

HOUSTON (AP) -- Crown Castle International Corp., which owns and operates cell phone towers, posted a fiscal fourth-quarter profit Wednesday as revenue grew, but it forecast a loss for the current period.

The fourth quarter's net income attributable to stockholders, after the deduction of dividends on preferred stock, totaled $12.9 million, or 4 cents per share. That compares with a loss of $69 million, or 24 cents per share, in the same period a year earlier.

Revenue rose 13 percent to $443.5 million from $392 million.

Analysts, on average, forecast a loss of a penny per share on sales of $436.3 million, according to a poll by Thomson Reuters.

For the full year, the net loss attributable to company shareholders, after the deduction of dividends on preferred stock, totaled $135.1 million, or 47 cents per share, compared with a loss of $69.7 million, or 25 cents per share, a year earlier. Revenue climbed to $1.69 billion from $1.53 billion.

For the first quarter, Crown Castle forecast a net loss after deduction of dividends on preferred stock totaling 15 cents to 25 cents per share. Analysts expect the company to break even on a per-share basis.

The company expects full-year per-share results in the range of a loss of 21 cents to a profit of a penny. Analysts project profit of 12 cents per share.

Shares rose 81 cents, or 2.2 percent, to close at $38.25.

© 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy.

[Get Copyright Permissions]Click here for copyright permissions!
Copyright 2008 Associated Press

advertisement

NEWSLETTER

Sign up today for the latest headlines from U.S. News and World Report delivered to you free.

RSS FEEDS

Personalize your U.S. News with our feeds of blogs and breaking news headlines.

USNews MOBILE

U.S. News daily briefings are also available on your mobile device.

advertisement