SBA Communications widens 1st-quarter loss, hurt by higher interest expenses

SBA Communications widens 1Q loss, expenses rise

BOCA RATON, Fla. — SBA Communications Corp., which leases cell phone towers to wireless providers, said Tuesday its first-quarter loss widened as its expenses rose.

For January through March, SBA’s net loss was $37.3 million, or 32 cents per share. A year ago, its net loss totaled $17.9 million, or 15 cents per share.

Analysts surveyed by Thomson Reuters forecast a smaller loss of 24 cents per share.

The company’s operating expenses increased 9 percent to $131.1 million.

Other expenses, including interest expense and non-cash interest expense, rose 69 percent to $54.2 million.

Revenue rose 10 percent to $148 million from $135.1 million in the same period last year, slightly more than the $147 million analysts were expecting.

For the current quarter, which ends June 30, SBA said it expects revenue of $149 million to $153 million. Analysts are looking for $150.6 million in revenue.

The company also forecast full-year revenue of $600.5 million to $625 million, compared with Wall Street’s forecast for $614 million.