Crown Castle International Corp. is an American company that operates and provides wireless infrastructure, including towers and other structures and distributed antenna systems (“DAS”).
Nearly all of the company’s operations are located in the United States and Australia.
It operates via long-term contracts in various forms, such as license, sublease and lease agreements.
The company provides telephone coverage for service providers such as Verizon, AT&T Mobility, Sprint and T-Mobile, Vodafone, Optus and Telstra.
Crown Castle International Corp. is comprised of two major tower operation subsidiaries:
Crown Castle USA – engineers, deploys, markets, owns, operates and leaded shared wireless communication sites, operating a total of more than 22,000 towers in 92 of the top 100 U.S. markets.
Crown Castle Australia – entered the Australian market in March 2000 and now delivers communications and cellular coverage to more than 92% of Australians.
Crown Castle traces its history back to 1994. It began with 133 communication towers in Southwest Texas. Since its inception the company has enhanced its portfolio organically and through acquisitions.
The company is publicly listed on the New York Stock Exchange (NYSE), under the stock ticker symbol ‘CCI’.
Overview
- President, CEO and Director: W. Benjamin Moreland
- CFO: Jay A. Brown
- Chairman: J. Landis Martin
- Type: Public
- Industry: Mobile Infrastructure
- Listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: CCI
- S&P 500 Component
- Revenue: $3.022 billion USD (2013)
- Net income: $93 million USD (2013)
- Diluted earnings per share: 0.26 USD (2013)
- Employees: 1,900 (2013)
- Corporate headquarters: 1220 Augusta Drive, Suite 600, Houston Texas 77057-2261, USA
- Corporate contact number: (713) 570-3000
- Investor relations contact number: 713-570-3078
- Investor relations email address: [email protected]
- Website: http://www.crowncastle.com/
| Operating data (in $ thousands) | 2013 | 2012 |
| Site rental revenue | $2,503,620 | $2,124,190 |
| Network services and other revenue | $518,764 | $308,490 |
| Total revenue | $3,022,384 | $2,432,680 |
| Costs of site rental | $725,109 | $539,239 |
| Cost of network services and other | $321,687 | $189,750 |
| General and administrative expense | $238,702 | $212,572 |
| Asset write-down charges | $14,863 | $15,548 |
| Acquisition and integration costs | $26,005 | $18,298 |
| Depreciation, amortization and accretion | $774,215 | $622,592 |
| Total operating expenses | $2,100,581 | $1,597,999 |
| Operating income | $921,803 | $834,681 |
| Interest expense and amortization of deferred financing costs | $(589,630) | $(601,044) |
| Losses on retirement of long-term obligations | $(37,127) | $(131,974) |
| Operating income | $921,803 | $834,681 |
| Interest income | $1,355 | $4,556 |
| Other income (expense) | $(3,872) | $(5,392) |
| Income before income taxes | $292,529 | $100,827 |
| Benefit (provision) for income taxes | $(198,628) | $100,061 |
| Net income (loss) | $93,901 | $200,888 |
| Net income (loss) attributable to the noncontrolling interest | $3,790 | $12,304 |
| Net income attributable to CCIC stockholders | $90,111 | $188,584 |
| Balance sheet data (in $ thousands) | ||
| Total assets | $20,594,908 | $16,088,709 |
| Total liabilities | $13,653,733 | $13,137,445 |
| Total stockholders’ equity | $6,926,717 | $2,938,746 |
| Cash flow data (in $ thousands) | ||
| Net cash provided by operating activities | $1,237,656 | $772,557 |
| Net cash used in investing activities | $(5,520,969) | $(4,199,596) |
| Net cash provided by financing activities | $4,063,133 | $3,786,803 |
| Cash and cash equivalents at end of year | $223,394 | $441,364 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $0.26 | $0.64 |
| Diluted earnings (loss) per common share | $0.26 | $0.64 |
Source: “Crown Castle International Corp. 2013 FORM 10-K Annual Report”