UPDATE 1-SBA Communications Q4 loss widens on one-time charge

(Recasts, adds details)

Feb 21 (Reuters) - Wireless tower operator SBA Communications Corp (SBAC.O: Quote, Profile, Research) reported a wider quarterly loss, which missed analysts' expectations, and slightly raised its 2008 revenue forecast range, citing higher site leasing revenue and additional portfolio growth.

The company reported a fourth-quarter loss of $28.9 million, or 27 cents a share, hurt by a one-time charge of $15.6 million, compared with a loss of $22.3 million, or 23 cents a share in the year-ago period.

Excluding the charge, it posted a loss of 13 cents a share for the quarter. Analysts on average were expecting a loss of 12 cents a share, before special items, according to Reuters Estimates.

Revenue rose 12.6 percent to $108.9 million, compared with analysts' average estimate of $108.0 million. The increase in revenue was mainly helped by a 13.8 percent rise in site leasing revenue, which was $84.7 million.

"Operationally, carrier activity was better than expected and on the leasing side that will translate into higher 2008 site leasing revenues," Chief Executive Officer Jeffrey Stoops said in a statement.

The company expects to report fiscal 2008 revenue of $445 million to $475 million, compared with its previous forecast range of $440 million to $470 million.

Analysts on average were expecting revenue of $458.2 million for the year.

For the first quarter, SBA expects to report revenue of $106.5 million to $111.5 million, compared with analysts' expectations of $109.1 million.

Shares of the company were trading up about 2 percent at $30.04 in trading after the bell. (Reporting by Bijoy Koyitty in Bangalore; Editing by Anupama Dwivedi)