Crown Castle International Corp. (CCI) announced that its third-quarter net loss attributable to CCIC stockholders after deduction of dividends on preferred stock was $36.8 million , compared to a net loss attributable to CCIC stockholders after deduction of dividends on preferred stock of $37.4 million for the same period in 2008. Net loss attributable to CCIC common stockholders per common share was $0.13 for each of the third quarter of 2009 and the third quarter 2008.
Total revenue for the third quarter increased 12% to $429.1 million from $384.3 million in the same period in 2008.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.04 per share on revenues of $419.06 million for the quarter. Analysts' estimates typically exclude special items.
For the fourth quarter, Site rental revenue is expected to be in the range of $397 million to $402 million, GAAP results is expected to be in the range of loss $15 million to profit of $7 million or $0.05 loss per share - profit $0.02 per share. Analysts expect the company to report a loss of $0.02 per share for the fourth-quarter.
For fiscal 2009, the company now expects Site rental revenue to be in the range of $1.537 billion to $1.542 billion, Net loss after deduction of dividends on preferred stock to be in the range of $165 million - $142 million or $0.58 to $0.49 per share. Earlier, the company expected site rental revenue in a range of $1.52 billion-$1.53 billion, and net loss attributable to CCIC common stockholders in a range of $172 million-$81 million, or loss of $0.60-$0.28 per share. Analysts expect the company to report a loss of $0.45 per share for fiscal 2009.
For fiscal 2010, Site rental revenue is expected to be in the range of $1.645 billion to $1.665 billion, GAAP results to be in the range of loss $16 million - profit of $68 million or $0.06 loss per share - profit of $0.24 per share. Analysts expect the company to report net income of $0.09 per share for fiscal 2010.
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