Stock Repurchase Program – During the fourth quarter of 2012, the Company repurchased a total of approximately 0.6 million shares of its common stock for approximately $46.0 million pursuant to its stock repurchase program. Between January 1, 2013 and January 21, 2013, the Company repurchased an additional 15,790 shares of its common stock for an aggregate of $1.2 million.
During the twelve months ended December 31, 2012, the Company repurchased a total of approximately 0.9 million shares of its common stock for approximately $62.7 million pursuant to its stock repurchase program.
Leverage – For the quarter ended December 31, 2012, the Company’s net leverage ratio was approximately 4.2x net debt (total debt less cash and cash equivalents) to fourth quarter 2012 annualized Adjusted EBITDA.Liquidity – As of December 31, 2012, the Company had approximately $1.1 billion of total liquidity, comprised of approximately $368.6 million in cash and cash equivalents, plus the ability to borrow an aggregate of approximately $734.6 million under its two revolving credit facilities, net of any outstanding letters of credit. Subsequent to the end of the fourth quarter of 2012, the Company increased its liquidity by approximately $1.0 billion through the issuance of 3.50% senior unsecured notes due 2023, the net proceeds of which were used to repay borrowings under the Company’s revolving credit facilities. FULL YEAR 2013 OUTLOOK The following estimates are based on a number of assumptions that management believes to be reasonable and reflect the Company’s expectations as of February 26, 2013. These estimates include the impact of the Company’s acquisition of 883 towers in Mexico, which closed subsequent to the end of the fourth quarter of 2012 and the construction of between 2,250 to 2,750 new sites. Actual results may differ materially from these estimates as a result of various factors, and the Company refers you to the cautionary language regarding “forward-looking” statements included in this press release when considering this information.