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HOUSTON — Crown Castle International Corp., which owns and operates cell phone towers, posted a fiscal fourth-quarter profit Wednesday as revenue grew, but it forecast a loss for the current period.
The fourth quarter's net income attributable to stockholders, after the deduction of dividends on preferred stock, totaled $12.9 million, or 4 cents per share. That compares with a loss of $69 million, or 24 cents per share, in the same period a year earlier.
Revenue rose 13 percent to $443.5 million from $392 million.
Analysts, on average, forecast a loss of a penny per share on sales of $436.3 million, according to a poll by Thomson Reuters.
For the full year, the net loss attributable to company shareholders, after the deduction of dividends on preferred stock, totaled $135.1 million, or 47 cents per share, compared with a loss of $69.7 million, or 25 cents per share, a year earlier. Revenue climbed to $1.69 billion from $1.53 billion.
For the first quarter, Crown Castle forecast a net loss after deduction of dividends on preferred stock totaling 15 cents to 25 cents per share. Analysts expect the company to break even on a per-share basis.
The company expects full-year per-share results in the range of a loss of 21 cents to a profit of a penny. Analysts project profit of 12 cents per share.
Shares rose 81 cents, or 2.2 percent, to close at $38.25.
