Crown Castle Posts Favorable Q3 Numbers

Houston-based Crown Castle International Corp. reported significant increases in revenues, tower cash flow, and EBITDA for the three months and nine months ended Sept. 30.

For the three months ended Sept. 30, revenues increased to $98.9 million from $28.9 million during the same period in 1998. Tower cash flow for the third quarter increased to $38.8 million from $10.8 million in last year's third quarter. Third quarter earnings before interest, taxes, depreciation, and amortization (EBITDA) grew to $40.6 million, compared to $8.8 million in last year's third quarter.

For the nine months ended Sept. 30, revenues increased to $231.6 million from $52.3 million during the same period in 1998. Tower cash flow for the first nine months of 1999 increased to $96.4 million from $18.0 million in last year's first nine months. Nine-month EBITDA grew to $92.5 million, compared to $11.8 million in last year's first nine months.