American Tower Corporation – Company Information
American Tower Corporation is one of the leading operators and developers of wireless and broadcast communication real estate – with over 75,594 owned or managed sites across the world. It is based in Boston, Massachusetts.
The company operates around 28,566 towers in the United States and over 46,598 towers internationally in Panama, Germany, Brazil, Colombia, Mexico, Costa Rica, Peru, Chile, South Africa, Ghana, Uganda, and India.
The company offers a wide range of of wireless infrastructure solutions, including towers, in-building and outdoor Distributed Antenna Systems (DAS), managed networks, Small Cells, and Wi-Fi.
American Tower began as a subsidiary of American Radio and grew over the years through a number of acquisitions. In 1998 it was spun off into a separate company and went public on the New York Stock Exchange (NYSE) – under the stock ticker symbol ‘AMT’.
The company generates over 98% of its revenue through its rental and management operations, which involves leasing antenna space on multi-tenant communications sites to wireless service providers, wireless data and data providers, government agencies and municipalities, radio and television broadcast companies, in addition to a number of other industries.
American Tower’s mission is to “deliver the highest level of customer service while providing safe, compliant and quality tower sites.”
- President, Chairman and CEO: James D. Taiclet, Jr.
- Industry: Communication Systems
- Type: Public company
- Listed on New York Stock Exchange (NYSE)
- NYSE stock symbol: AMT
- S&P 500 Component
- Formed: 1995
- Net revenue: $4.100 billion USD (2014)
- Net income: $803.199 million USD (2014)
- Earnings per share: $2.02 USD (2014)
- Company headquarters: American Tower Corporation, 116 Huntington Ave. 11th Floor, Boston, MA 02116
- Employees: 2,974 full-time (2014)
- Website: http://www.americantower.com/
- Corporate contact number: 614-716-2819
- Investor relations email: [email protected]
American Tower Corporation Financial Results, Years Ended December 31
|Revenues (in $ thousands)||2014||2013|
|Rental and management||$4,006,854||$3,287,090|
|Network development services||$93,194||$74,317|
|– Total operating revenues||$4,100,048||$3,361,407|
|Operating Expenses (in $ thousands)|
|Cost of operations||$1,056,177||$828,742|
|Network and development services||$38,088||$31,131|
|Depreciation, amortization and accretion||$1,003,802||$800,145|
|Selling, general, administrative and development expenses||$446,542||$415,545|
|Other operating expenses||$68,517||$71,539|
|– Total operating expenses||$2,613,126||$2,147,102|
|Income Data (in $ thousands)|
|Income from continuing operations before income taxes and equity earnings||$865,704||$541,749|
|Income tax provision||$(62,505)||$(59,541)|
|Net income attributable to American Tower Corporation||$824,910||$551,333|
|Balance sheet data (in $ thousands)|
|Total American Tower Corporation equity||$3,953,560||$3,534,165|
|Common share data (in $)|
|Basic earnings (loss) per common share||$2.02||$1.40|
|Diluted earnings (loss) per common share||$2.00||$1.38|
|Cash flow data (in $ thousands)|
|Net cash provided by operating activities||$2,134,589||$1,599,047|
|Net cash used in investing activities||$(1,949,548)||$(5,173,337)|
|Net cash provided by financing activities||$(134,591)||$3,525,565|
|Cash and cash equivalents at beginning of year||$293,576||$368,618|
|Cash and cash equivalents at end of year||$313,492||$293,576|