SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  For example, here is how to disable FireFox ad content blocking while on Silicon Investor.
Technology Stocks : SBA Communications Corporation (SBAC)
SBAC 235.53-0.9%3:59 PM EST

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: caly who wrote (85)11/12/1999 3:40:00 PM
From: richard p. martino  Read Replies (1) of 100
 
SBAC: Reports Strong Third Quarter Results Above Expectations
Salomon Smith Barney
Friday, November 12, 1999

--SUMMARY:--SBA Communications Corp.--Broadcasting
* SBAC reported strong 3Q99 results above our expectations: Revenue of
$24.6MM, TCF of $7.7MM, EBITDA of $2.9MM and ATCF loss/sh. of ($0.13) vs.
our estimates of $21.1MM, $7.0MM, $2.3MM and ($0.14).
* Rental revenue and cash flow were $7.1MM and $3.9MM vs. our estimates of
$7.1MM and $3.8MM; Development revenue and CF were $17.5MM and $3.8MM vs.
our estimates of $14.1MM and $3.1MM.
* SBAC added 186 towers in 3Q (108 new builds and 78 acquired).
* Recent agreement to purchase 34 towers from Nucentrix for $7MM is a
prudent use of capital that boosts SBAC's presence in the MidWest.
* SBAC conference call is at 10:00AM on 11/12/99 - # is 1-800-230-1092
* Maintain estimates pending conference call in the morning.
* Maintain 2H (Outperform, High Risk) and $17 price target.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext