UPDATE 1-Crown Castle posts Q1 profit

Wed Apr 29, 2009 11:33pm BST
 
Email | Print | | Single Page
[-] Text [+]

* Q1 EPS $0.02 vs loss of $0.07 yr-ago

* Q1 rev up 9 pct to $402.9 mln

* Sees Q2 shr loss of $0.42-$0.61

* Sees 2009 shr loss of $0.36-$0.78

* Shares up 7 pct

April 29 (Reuters) - Wireless tower operator Crown Castle International Corp (CCI.N) posted a first-quarter net profit, compared with a year-ago loss, helped by strong demand for wireless data services, but forecast a second-quarter loss.

The company, which also forecast a loss for the full year, however, said it increased the midpoint of its 2009 outlook for site rental revenue by $15 million.

It sees full-year site rental revenue of $1.50 billion to $1.52 billion.

"We enjoyed strong growth in leasing applications during the first four months of 2009, which we expect will translate into additional new tenants during the second half of 2009," CEO Ben Moreland said in a statement.  Continued...

 

Market Update

  • UKUK
  • USUS
  • Europe
  • Asia
  • UK Most Actives

Most Popular Business News on Reuters UK

  • Articles
  • Videos