SBA Communications Corp. (SBAC) reported that its first-quarter funds from Operations increased to $100.3 million from $59.8 million in the year ago quarter.
Adjusted Funds from Operations or AFFO increased 66.2% to $126.3 million in the first quarter of 2013 compared to $75.9 million in the first quarter of 2012. AFFO per share increased 46.3% to $0.98 in the first quarter of 2013 compared to $0.67 in the first quarter of 2012.
Net loss attributable to the company for the first quarter of 2013 was $22.4 million or $0.18 per share compared to $22.6 million or $0.20 per share in the comparable quarter last year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.21 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues were $313.07 million, up 62.6% from $192.49 million in the year earlier period, while sixteen analysts had consensus revenue estimate of $301.77 million for the quarter.
Looking ahead to the second-quarter, the company anticipates Adjusted Funds from Operations to be between $118.5 million and $127.5 million and total revenues of $305.0 million - $320.0 million. Analysts expect the company to report revenues of $301.83 million for the second-quarter.
The company now expects fiscal 2013 Adjusted Funds from Operations in the range of $480.0 million to $515.0 million, and total revenues of $1.23 billion to $1.26 billion. Earlier, the company expected fiscal 2013 Adjusted Funds from Operations in the range of $462.0 million to $496.0 million, and total revenues of $1.19 billion to $1.22 billion.
Analysts expect the company to report revenues of $1.22 billion for fiscal 2013.
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