SBA Communications Corp. (SBAC: Quote) reported that its second-quarter funds from operations declined to $39.67 million from $46.17 million in the year ago quarter.
Adjusted Funds from Operations increased 46.0% to $95.3 million in the second quarter of 2012 from $65.2 million in the second quarter of 2011. Adjusted Funds from Operations per share increased 34.5% to $0.78 compared to $0.58 in the second quarter of 2011.
Net loss attributable to the company for the second quarter of 2012 was $53.5 million or $0.44 per share compared to a loss of $29.8 million or $0.27 per share in the year earlier period. Net loss for the second quarter of 2012 included a one-time loss of $27.1 million associated with the redemption of certain of the Company's 8.0% Senior Notes and 8.25% Senior Notes. Analysts polled by Thomson Reuters expected the company to report a loss of $ 0.16 per share on revenues of $223.91 million for the quarter. Analysts' estimates typically exclude special items.
Total revenues in the second quarter of 2012 were $229.1 million compared to $171.1 million in the year earlier period, an increase of 34.0%.
For the third-quarter, the company anticipates Adjusted Funds from Operations in the range of $89.0 million to $93.0 million, and total revenues of $231.0 million to $235.0 million. Analysts expect the company to report revenues of $231.31 million for the third-quarter.
For fiscal 2012, the company now expects Adjusted Funds from Operations in the range of $338.0 million to $371.0 million, and total revenues of $881.0 million to $911.0 million. Earlier, the company had expected Adjusted Funds from Operations to be in the range of $340.0 million to $373.0 million, and total revenues of $867.0 million to $897.0 million for fiscal 2012. Analysts expect the company to report revenues of $882.98 million for fiscal 2012.
 | | To receive FREE breaking news email alerts for SBA Communications Corp and others in your portfolio |
|
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Business News