Net income attributable to CCIC stockholders for the first quarter of 2013 was $15 million, inclusive of $36 million in losses on retirement of debt related to the completion of the redemption of the 9% senior notes and 7.75% senior secured notes, compared to $50 million of net income for the same period in 2012. Net income attributable to CCIC stockholders per common share was $0.05 for the first quarter of 2013, compared to $0.17 per common share in the first quarter of 2012.Adjusted EBITDA in the first quarter of 2013 exceeded the high-end of first quarter Outlook (previously issued on January 23, 2013) by $13 million, primarily due to significantly higher than expected service gross margin contribution and $4 million of non-recurring site rental revenues which were not previously contemplated in the Outlook. In addition, AFFO exceeded the high-end of Outlook, due in part to $8 million of contributions related to the construction of conduit to hold customer-owned fiber to Crown Castle towers, which are accounted for as deferred site rental revenues and recognized over the estimated period the contributions are earned (currently eight years).
Crown Castle International Reports First Quarter 2013 Results; Raises 2013 Outlook
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