Crown Castle International Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter and Full Year of 2014
For the year, the company has posted total net revenue was $3,022,384,000 against $2,432,680,000 a year ago. Operating income was $921,803,000 against $834,681,000 a year ago. Profit before income tax was $292,529,000 against $100,827,000 a year ago. Net income was $93,901,000 against $200,888,000 a year ago. Net income attributable to common stockholders was $78,748,000 or $0.26 diluted per share against $185,955,000 or $0.64 diluted per share a year ago. Net cash provided by operating activities was $1,237,656,000 against $772,557,000 a year ago. Capital expenditures were $567,810,000 against $441,383,000 a year ago. AFFO increased $386,000,000, or 44%, from $886,000,000 for full year 2012 to $1,270,000,000 for full year 2013. AFFO per share increased 40% to $4.25 in full year 2013 compared to $3.04 for full year 2012. Adjusted EBITDA was $1,794.10 million against $1,552.70 million a year ago.
For the first quarter of 2014, the company expects adjusted EBITDA to be $509 million to $514 million, FFO to be $321 million to $326 million; AFFO to be $370 million or $1.11 per share to $375 million or $1.13 per share; and net income attributable to company to be $78 million or $0.23 diluted per share to $111 million or $0.33 diluted per share.
For the year 2014, the company expects adjusted EBITDA to be $2,040 million to $2,055 million; FFO to be $1,284 million or $4.49 per share to $1,299 million or $4.54 per share; and net income attributable to company of $338 million or $1.02 diluted per share to $422 million or $1.27 diluted per share.