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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (55514)	8/11/1999 3:41:00 PM
From: kendall harmon	Respond to of 120523

those parry fed remarks may impact the market into the close

To: Tradelite who wrote (55514)	8/11/1999 9:27:00 PM
From: Tradelite	Read Replies (2) \| Respond to of 120523

SBAC might do something good tomorrow. It's one of my pet cheapie stocks which, unfortunately, I sold not too long ago. ______________________________ SBA Communications Corporation Reports Record 2nd Quarter Results PR Newswire - August 11, 1999 17:25 BOCA RATON, Fla., Aug. 11 /PRNewswire/ -- SBA Communications Corporation (Nasdaq: SBAC)("SBA") announced its financial condition and results of operations for the second quarter ended June 30, 1999. The company achieved a number of financial and operational milestones in the quarter. SBA completed its initial public offering of Class A Common Stock and the acquisition of Com-Net Construction Services, Inc. The company added 184 towers to its portfolio, including 126 towers built by SBA, each of which is the highest number of any quarter in the company's history. As of the end of the quarter, SBA owned 770 towers, compared to 484 towers owned as of December 31, 1998. In addition, SBA experienced a record number of new tenant additions to its tower portfolio in the quarter. On a pro forma basis, same tower revenue increased 27% from June 30, 1998 to June 30, 1999. Total revenues for the quarter increased 40.9% to $19.4 million from the second quarter of 1998, due to both higher site leasing revenue and site development revenue. Site leasing revenue increased to $5.8 million for the quarter, a record for the company and a 117.6% increase over the second quarter of 1998. Gross profit for the quarter increased 108.2% to $6.6 million from the second quarter of 1998, due to higher site leasing and site development gross profit. Site leasing gross profit, or tower cash flow, increased to $3.0 million for the quarter, again a record for SBA and a 188.6% increase over the second quarter of 1998. Earnings before interest, taxes, depreciation, amortization and non-cash compensation charges (EBITDA) increased to $1.9 million from a loss of ($1.6 million) in the same period last year. "The second quarter was in many respects a breakthrough quarter for us", commented Steven E. Bernstein, Chief Executive Officer. "We completed our initial public offering and the Com-Net acquisition. We added a record number of towers to our portfolio, and enjoyed many synergies between our site development and site leasing businesses which resulted in increased revenue, gross profit and EBITDA. We are well-positioned for continued growth. Perhaps most importantly, we enjoyed great success in adding new tenants to our towers. We have always believed that our asset mix, which favors new builds, and our ability to identify attractive tower locations through our operational capability and experience would produce superior same tower revenue growth. We are extremely pleased with the 27% same tower annual revenue growth we have experienced as of June 30, 1999". SBA is a leading independent owner and operator of wireless communications infrastructure in the United States. SBA generates revenue from two primary businesses -- site leasing and site development services. The primary focus of the company is the leasing of antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts. Since it was founded in 1989, SBA has participated in the development of over 13,000 antenna sites in the United States. SBA currently owns approximately 790 towers and has over 600 tower projects under various stages of development throughout the nation. Information Concerning Forward-Looking Statements Some information in this release is forward-looking. These forward- looking statements may be affected by the risks and uncertainties in the company's business. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of the company's Securities and Exchange Commission filings. The company wishes to caution readers that certain important factors may have affected and could in the future affect the company's actual results and could cause the company's actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the company. The company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof. ____________________