Crown Castle International corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported a 9.2% increase in net revenue to $1,032,416,000 compared to $945,836,000 for the same period last year. Operating income was $262,040,000 compared to $229,736,000 a year ago. Income from continuing operations before income taxes was $128,794,000 compared to $100,644,000 a year ago. Income from continuing operations was $124,710,000 or $0.35 per basic and diluted share compared to $142,721,000 or $0.39 per basic and diluted share a year ago. Net income attributable to company's stockholders was $124,710,000 or $0.35 per basic and diluted share compared to $130,065,000 or $0.39 per basic and diluted share a year ago. Capital expenditures during the quarter were approximately $260 million, comprised of approximately $17 million of land purchases, approximately $42 million of sustaining capital expenditures and approximately $201 million of revenue generating capital expenditures. Adjusted EBITDA was $574.6 million compared to $539.8 million a year ago. FFO was $386.9 million compared to $410.3 a year ago. AFFO was $406.4 compared to $372.2 a year ago. Adjusted funds from operations rose by 9.1% over last year to $406 million.

For the year, the company reported net revenues of $3,921,225,000 compared to $3,663,851,000 a year ago. Operating income was $949,216 compared to $946,180,000 a year ago. Income from continuing operations before income taxes was $373,854,000 compared to $473,829,000 a year ago. Income from continuing operations was $356,973,000 or $0.95 per diluted share compared to $525,286,000 or $1.45 per basic and diluted share a year ago. Net income was $356,973,000 compared to $1,524,335,000 a year ago. Net income attributable to common stockholders was $323,982,000 or $0.95 per basic and diluted share compared to $1,477,004,000 or $4.42 per diluted share a year ago. Net cash provided by operating activities was $1,782,264,000 compared to $1,794,025,000 a year ago. Capital expenditures were $873,883,000 compared to $908,892,000 a year ago. Total net debt was $11,694.1 million as of December 31, 2016. Adjusted EBITDA was $2,227.5 million compared to $2,119.2 million a year ago. FFO was $1,429.5 per share compared to $1,533.1 per share a year ago. AFFO was $1,609.9 per share compared to $1,436.6 per share a year ago.

For the first quarter of 2017, the company expects site rental revenues to be in range of $851 million to $856 million, site rental gross margin to be in range of $586 million to $591 million, net income to be in range of $88 million to $108 million and adjusted EBITDA to be to be in range of $575 million to $580 million. FFO is expected to be in range of $395 million to $400 million. Adjusted fund from operations is expected to be in range of $440 million to $445 million.

For the full year of 2017, the company expects site rental revenues to be in range of $3,468 million to $3,498 million against $3,329 as provided earlier. Site rental gross margin is expected to be in range of $2,391 million to $2,421 million compared to $2,291 as provided earlier. Net income is expected to be in range of $360 million to $410 million against $400 as provided earlier. Adjusted EBITDA is expected to be to be in range of $2,358 million to $2,388 million against $2,278 as provided earlier. FFO is expected to be in range of $1,616 million to $1,646 million. Adjusted fund from operations $1,801 million to $1,831 million against $1,754 as provided earlier. AFFO per share from $5.01 to $5.03, representing approximately 6% growth when compared to full year 2016.