SBA Communications Posts Q3 Profit

(RTTNews) - SBA Communications Corp. (SBAC) Monday reported third-quarter net income of $21.5 million or $0.16 per share, compared to a loss of $52.4 million or $0.44 per share last year.

On average, 16 analysts polled by Thomson Reuters expected a loss of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the third quarter rose 39.2 percent to $332.1 million from $238.6 million in the year earlier period. Analysts estimated revenues of $322.37 million for the quarter.

Looking forward to the fourth quarter, the company expects total revenues of $324.0 million to $339.0 million. Analysts currently estimate revenues of $323.6 million for the quarter.

For the full year 2013, the company now expects revenues of $1.29 billion to $1.31 billion, up from prior estimate of $1.27 billion to $1.29 billion. Analysts currently estimate revenues of $1.28 billion for the year.

For the full year 2014, the company expects revenues of $1.35 billion to $1.39 billion. Analysts currently estimate revenues of $1.39 billion for the year.