Turning to Slide 4. During the second quarter, we generated site rental revenue of $518 million, up 13% from the second quarter of 2011. New tenant additions increased site rental revenue by 6%, reflecting the increased leasing activity driven by the 4 major carriers upgrading their networks. And the remaining 7% growth came from our 2 recent acquisitions. The contribution to site rental revenues from these acquisitions was approximately $6 million higher in the quarter than we had previously expected. Further, we were able to achieve certain cost synergies related to these acquisitions quicker than we had previously anticipated.Site rental gross margin, defined as site rental revenues less cost of operations, was $386 million, up 15% from the second quarter of 2011. Further, our network services continue to exceed our expectations, reflecting the level of network upgrade activity in the market.
Crown Castle International Management Discusses Q2 2012 Results - Earnings Call Transcript
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