SBA Communications Corporation
SUMMARY HISTORICAL FINANCIAL DATA
For the three months For the nine months
ended September 30, ended September 30,
1998 1999 1998 1999
Operating Data:
Revenue:
Site development
revenue $ 9,965,367 $17,500,989 $33,623,782 $39,723,133
Site leasing
revenue 3,327,964 7,110,004 8,132,215 18,009,433
Total revenues 13,293,331 24,610,993 41,755,997 57,732,566
Cost of revenues:
Cost of site
development revenue 8,044,084 13,689,711 26,014,756 30,322,472
Cost of site
leasing revenue 1,919,516 3,238,123 5,039,074 8,392,646
Total cost of
revenues 9,963,600 16,927,834 31,053,830 38,715,118
Gross Profit 3,329,731 7,683,159 10,702,167 19,017,448
Operating expenses 4,325,787 4,781,248 13,127,718 13,714,319
Depreciation and
amortization 1,326,467 4,313,319 2,803,936 10,982,712
Total operating
expenses 5,652,254 9,094,567 15,931,654 24,697,031
Operating loss (2,322,523) (1,411,408) (5,229,487) (5,679,583)
Other income
(expense) (3,409,694) (6,401,375) (7,437,188) (18,650,459)
Loss before income
taxes and
extraordinary item (5,732,217) (7,812,783) (12,666,675) (24,330,042)
(Provision) benefit
for income taxes 612,229 (172,898) --- 403,003
Net loss before
extraordinary item (5,119,988) (7,985,681) (12,666,675) (23,927,039)
Extraordinary item --- --- --- (1,149,954)
Dividends on preferred
stock (712,500) --- (1,862,500) 733,403
Net loss to common
shareholders $(5,832,488) $(7,985,681) $(14,529,175) $(24,343,590)
Basic and diluted
loss per common
share $ (0.66) $ (0.28) $ (1.73) $(1.49)
Weighted average
number of shares 8,877,738 28,450,537 8,407,238 16,348,073
Other Data:
Earnings before interest
taxes, depreciation,
amortization and
non-cash compensation
charges $(947,931) $ 2,951,907 $(2,281,176) $5,489,775
Annualized Tower
Cash Flow $ 5,633,792 $15,487,524
As of As of
December 31, September 30,
1998 1999
(IN THOUSANDS)
Balance Sheet Data:
Cash and cash
equivalents $26,743 $ 2,705
Total assets $214,573 $347,184
Working capital $ 8,803 $(8,321)
Total debt $182,573 $255,912
SOURCE SBA Communications Corporation
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
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CONTACT: Jeffrey A. Stoops, Chief Financial Officer, SBA Communications
Corporation, 561-995-7670
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 120891
WEB PAGE: sbasite.com
GEOGRAPHY: Florida
INDUSTRY CODE: TLS
SUBJECT CODE: ERN
OTC
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