This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Crown Castle International Reports Fourth Quarter And Full Year 2012 Results; Raises 2013 Outlook

2012 Highlights
  • Reinforced US leadership position in shared wireless infrastructure through key acquisitions
  • Grew AFFO per share by 18% to $3.04
  • $7 billion in financing activities significantly lowering average cost of debt
  • Inclusion in S&P 500 Index

HOUSTON, Jan. 23, 2013 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE:CCI) today reported results for the quarter and year ended December 31, 2012.   

"We delivered excellent financial results throughout 2012 and successfully enhanced Crown Castle's position as the leading provider of shared wireless infrastructure in the US by closing on approximately $4 billion in acquisitions," stated Ben Moreland, Crown Castle's President and Chief Executive Officer. "These strategic acquisitions include the acquisition of exclusive rights to approximately 7,100 T-Mobile USA towers; the acquisition of NextG Networks, the industry leader in distributed antenna systems; and the acquisition of 2,300 ground lease related assets from Wireless Capital Partners. We expect these acquisitions to further strengthen our premier portfolio in the US, positioning us for long-term growth in the largest, fastest growing and most profitable wireless market in the world. I believe the growth we are currently experiencing is an early indicator of the important and increasing role Crown Castle's assets and capabilities will play in enabling wireless carriers to meet the mobile broadband demand of consumers." 


Total revenue for the fourth quarter of 2012 increased 30% to $674 million from $519 million for the same period in 2011. Site rental revenue for the fourth quarter of 2012 increased $99 million, or 21%, to $570 million from $471 million for the same period in the prior year. Site rental gross margin, defined as site rental revenue less site rental cost of operations, increased $70 million, or 20%, to $421 million in the fourth quarter of 2012 from $351 million in the same period in 2011. Adjusted EBITDA for the fourth quarter of 2012 increased $79 million , or 23%, to $414 million from $335 million in the same period in 2011. 

Adjusted Funds from Operations ("AFFO") increased 26% to $243 million in fourth quarter 2012 compared to $193 million in the fourth quarter of 2011. AFFO per share increased 22% to $0.83 in the fourth quarter of 2012 compared to $0.68 in the fourth quarter of 2011. Funds from Operations ("FFO") decreased 52% to $88 million, inclusive of a $117 million loss on retirement of debt in the fourth quarter of 2012, compared to $182 million in the fourth quarter of 2011. FFO per share decreased 53% to $0.30 in the fourth quarter of 2012 compared to $0.64 in the fourth quarter of 2011.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.72 -0.56%
FB $119.49 1.43%
GOOG $711.12 1.38%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs