Crown Castle International Reports In-Line EPS
Shares of Crown Castle International (NYSE: CCI) are trading flat in the after-hours following the release of the company's Q4 earnings results. Currently, shares are bid $45.83, at $47.67; they ended the regular session higher by 1.65%, at $46.70.
Crown Castle International reported Q4 EPS of $0.16 on revenues of $519 million; the Street was looking for $0.16 per share. Revenues increased 5% year over year.
"We had an excellent fourth quarter and full year 2011, growing site rental revenue, Adjusted EBITDA, and adjusted funds from operations for the full year 2011, by 9%, 12%, and 17%, respectively," stated Ben Moreland, President and Chief Executive Officer.
"Further, we announced an agreement to acquire NextG Networks, the largest provider of distributed antenna systems in the US. Our acquisition of NextG positions us as the industry leader in DAS and builds on the DAS success we have already enjoyed.”
Crown Castle International Corp. owns, operates and leases towers and other wireless infrastructure, including distributed antenna system networks in the United States and rooftop installations.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.