This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: CCI

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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs