SBA COMMUNICATIONS CORPORATION SBAC Income Statement

Sba communications corporation (SBAC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues:
Site leasing
492,356	481,100	468,572	459,003	452,183	444,748	435,260	429,884	430,542	414,084	408,538	403,001	397,550	393,609	388,168	381,843	374,450	368,452	371,993	370,462	369,727	361,420	349,010	340,452	309,320	292,525	287,483	279,501	273,504	260,762	208,828	203,581	172,923	165,123	154,514	150,173	146,484	140,054	135,684	131,739	127,967	120,551	117,342
Site development
24,711	32,558	38,975	41,144	41,110	39,101	31,961	26,439	27,760	28,988	25,407	24,293	25,813	22,896	23,151	23,689	25,319	38,489	38,742	40,242	40,367	43,313	44,283	42,968	36,230	42,871	44,611	44,804	39,567	33,079	29,778	25,566	19,567	18,696	21,035	20,880	21,265	-	-	-	19,998	18,738	18,853
Site development consulting
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,661	4,680	-	-	-
Site development construction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,297	18,096	-	-	-
Total revenues
517,067	513,658	507,547	500,147	493,293	483,849	467,221	456,323	458,302	443,072	433,945	427,294	423,363	416,505	411,319	405,532	399,769	406,941	410,735	410,704	410,094	404,733	393,293	383,420	345,550	335,396	332,094	324,305	313,071	293,841	238,606	229,147	192,490	183,819	175,549	171,053	167,749	165,497	158,642	154,515	147,965	139,289	136,195
Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):
Cost of site leasing
95,799	94,784	92,993	93,460	92,714	93,497	92,294	93,688	92,817	90,457	90,351	89,337	89,382	86,606	86,354	86,493	82,762	81,361	81,346	81,731	80,217	78,265	77,926	75,382	69,740	66,845	68,042	67,784	68,101	62,164	46,621	44,759	35,407	33,885	33,932	32,123	31,976	29,628	30,326	30,004	29,183	28,645	27,516
Cost of site development
19,715	26,475	30,516	30,988	31,101	28,806	24,447	20,726	22,520	24,073	21,117	20,007	21,588	19,661	19,114	20,074	19,833	28,083	30,387	30,381	30,893	33,739	33,950	32,056	27,427	33,693	35,253	35,941	32,594	27,262	25,062	21,446	16,786	16,378	17,915	17,984	18,728	-	-	-	17,889	16,643	16,356
Cost of site development - consulting
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,662	3,649	-	-	-
Cost of site development - construction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,613	16,305	-	-	-
Selling, general, and administrative expenses
49,617	43,962	42,272	55,524	50,959	35,626	34,908	35,943	36,049	30,521	32,559	33,394	34,223	33,024	32,255	47,664	30,406	28,933	27,872	28,262	29,884	26,611	26,589	25,441	24,676	21,711	21,827	21,507	20,431	19,624	17,565	17,744	17,215	15,797	15,415	15,721	15,895	14,989	14,417	14,297	14,506	13,204	13,164
Acquisition and new business initiatives related adjustments and expenses
3,799	5,560	4,692	2,539	2,437	1,789	2,995	3,133	3,044	5,509	1,583	2,306	2,969	4,167	2,970	2,821	3,182	4,381	364	5,780	1,339	-2,930	-58	2,225	8,561	7,820	3,599	1,957	5,822	18,558	5,715	15,816	344	2,268	1,474	1,029	2,373	3,417	3,229	1,405	2,055	899	1,310
Asset impairment and decommission costs
14,355	9,472	8,240	9,620	5,771	4,356	6,868	7,404	8,506	10,789	9,417	8,140	8,351	7,063	2,305	14,691	6,183	20,598	63,353	4,010	6,822	10,247	5,992	3,994	3,568	12,555	6,190	6,493	3,722	3,828	1,560	646	349	-	1,106	296	-	-	-	-	-	-	-
Depreciation, accretion, and amortization
182,579	179,489	174,987	171,564	171,038	169,454	167,703	169,558	165,398	162,642	161,907	159,520	159,031	158,554	160,111	159,723	159,801	161,461	164,330	162,377	171,853	162,215	159,410	161,005	144,442	133,328	133,281	141,089	125,636	131,357	101,012	93,998	82,100	79,441	78,136	76,691	74,878	72,723	69,727	68,831	67,446	64,946	64,251
Total operating expenses
365,864	359,742	353,700	363,695	354,020	333,528	329,215	330,452	328,334	323,991	316,934	312,704	315,544	309,075	303,109	331,466	302,167	324,817	367,652	312,541	321,008	308,147	303,809	300,103	278,414	275,952	268,192	274,771	256,306	262,793	197,535	194,409	152,201	151,839	147,978	143,844	143,850	148,802	137,974	134,491	131,079	124,337	122,597
Operating income
151,203	153,916	153,847	136,452	139,273	150,321	138,006	125,871	129,968	119,081	117,011	114,590	107,819	107,430	108,210	74,066	97,602	82,124	43,083	98,163	89,086	96,586	89,484	83,317	67,136	59,444	63,902	49,534	56,765	31,048	41,071	34,738	40,289	31,980	27,571	27,209	23,899	16,695	20,668	20,024	16,886	14,952	13,598
Other income (expense):
Interest income
885	808	1,311	1,581	1,800	1,759	2,006	1,671	1,295	2,689	2,505	2,909	3,234	3,224	3,101	2,737	1,866	1,610	1,276	715	293	250	161	180	86	182	274	697	641	709	335	37	47	39	38	29	30	63	112	175	82	334	294
Interest expense
95,851	97,355	96,567	97,447	98,667	97,938	95,717	93,639	88,923	86,334	81,357	78,456	77,602	78,259	83,426	83,682	83,804	83,927	81,877	78,908	77,654	76,905	78,170	71,498	66,027	63,482	62,987	63,117	59,465	59,513	50,578	43,902	42,248	42,280	42,307	38,528	37,781	37,524	37,568	37,711	37,118	36,421	30,075
Non-cash interest expense
2,406	1,239	662	651	641	637	632	638	733	732	725	717	705	703	585	460	455	454	449	322	280	279	8,236	8,293	10,304	9,935	9,642	12,144	17,364	17,829	17,874	17,416	16,991	16,534	16,089	15,613	15,393	15,334	15,089	14,780	14,867	14,035	12,541
Amortization of deferred financing fees
5,139	7,132	5,157	5,116	5,061	5,024	4,980	4,897	5,388	5,336	4,957	4,949	6,698	5,101	5,445	5,325	5,265	5,181	4,803	4,626	4,544	4,458	4,599	4,278	4,237	4,052	3,981	3,923	3,604	3,577	3,199	3,661	2,433	2,407	2,381	2,201	2,199	2,207	2,186	2,214	2,492	2,603	2,812
Loss from extinguishment of debt, net
-16,864	-	-457	-	-	0	0	-13,798	-645	-	-	-1,961	-	-	-34,512	-	-	-	-	-	-	-1,124	-14,893	-8,236	-1,951	-336	-3	-5,618	-142	-	-22,643	-27,149	-	0	0	0	-1,696	-6	-10	-48,932	-112	-12,518	2,381
Other income (expense), net
-226,299	35,350	-33,551	12,762	-508	24,551	-24,518	-90,210	4,553	-18,635	20,062	-18,793	14,948	2,141	-1,139	47,376	45,900	39,574	-111,250	15,507	-82,968	-9,757	611	1,384	18,390	-3,736	34,175	547	152	421	249	4,972	12	362	122	-104	-545	-73	217	-434	319	120	-44
Total other expense, net
-345,674	-69,568	-135,083	-88,871	-103,077	-77,289	-123,841	-201,511	-89,841	-108,348	-64,472	-101,967	-66,823	-96,887	-122,006	-39,354	-41,758	-49,161	-197,103	-67,634	-165,153	-92,273	-105,126	-90,741	-64,043	-81,359	-42,164	-83,558	-79,782	-81,796	-93,710	-87,119	-61,613	-60,820	-60,617	-56,417	-57,584	-55,081	-54,524	-103,896	-54,188	-65,123	-42,797
(Loss) income before income taxes
-194,471	84,348	18,764	47,581	36,196	73,032	14,165	-75,640	40,127	10,733	52,539	12,623	40,996	10,543	-13,796	34,712	55,844	32,963	-154,020	30,529	-76,067	4,313	-15,642	-7,424	3,093	-21,915	21,738	-34,024	-23,017	-50,748	-52,639	-52,381	-21,324	-28,840	-33,046	-29,208	-33,685	-38,386	-33,856	-83,872	-37,302	-50,171	-29,199
Benefit (provision) for income taxes
-66,538	16,792	-3,002	15,608	10,207	15,879	-1,979	-18,249	8,582	3,071	3,378	3,390	3,398	5,285	1,574	2,001	2,205	1,948	1,926	2,224	2,963	8,010	982	-2,043	1,686	-2,750	207	1,875	-641	1,785	1,029	2,453	1,327	329	391	702	691	195	719	-18	109	18	229
Net loss from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-53,668	-54,834	-	-	-33,437	-29,910	-	-	-	-	-	-	-
Income from discontinued operations, net of income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	969	1,380	-	-	-	-	-	-	-	-	-	-	-
Net (loss) income
-127,933	-	21,766	-	25,989	-	16,144	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-52,586	-52,699	-53,454	-22,651	-29,169	-33,437	-29,910	-34,376	-38,581	-34,575	-83,854	-37,411	-50,189	-29,428
Net loss attributable to noncontrolling interests
-875	-	87	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-97	-254	18	-20	-88	-132	-91	-125	580	-87	-155	-85	-80	-68
Net (loss) income attributable to SBA Communications Corporation
-127,058	67,350	21,679	31,973	25,989	57,153	16,144	-57,391	31,545	7,662	49,161	9,233	37,598	5,258	-15,370	32,711	53,639	31,015	-155,946	28,305	-79,030	389	-16,624	-9,467	1,407	-19,165	21,531	-35,899	-22,376	-52,489	-52,445	-53,472	-22,631	-29,081	-33,305	-29,819	-34,251	-39,161	-34,488	-83,699	-37,326	-50,109	-29,360
Net (loss) income per common share attributable to SBA Communications Corporation:
Basic
-1.14	0.60	0.19	0.28	0.23	0.50	0.14	-0.50	0.27	0.06	0.41	0.08	0.31	0.04	-0.12	0.26	0.43	0.25	-1.23	0.22	-0.61	-	-	-0.07	-	-	0.17	-	-0.18	-	-0.44	-	-	-	-	-	-	-	-	-	-	-	-
Diluted
-1.14	0.58	0.19	0.28	0.23	0.50	0.14	-0.50	0.27	0.06	0.41	0.08	0.31	0.04	-0.12	0.26	0.43	0.25	-1.23	0.22	-0.61	-	-	-0.07	-	-	0.16	-	-0.18	-	-0.44	-	-	-	-	-	-	-	-	-	-	-	-
Basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.01	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average number of common shares
Basic
111,908	112,286	113,037	113,205	112,708	113,481	114,597	115,064	116,494	117,190	119,746	121,455	121,049	122,665	124,604	125,125	125,398	125,962	127,170	128,809	129,235	-	-	128,950	128,560	-	127,885	-	127,057	-	121,689	-	-	-	-	-	-	-	-	-	-	-	-
Diluted
111,908	114,304	115,184	114,940	114,344	116,589	116,114	115,064	118,293	118,891	121,026	122,437	121,734	124,065	124,604	125,783	126,124	124,823	127,170	129,948	129,235	-	-	128,950	138,356	-	136,912	-	127,057	-	121,689	-	-	-	-	-	-	-	-	-	-	-	-
Loss from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.45	-	-	-0.30	-0.27	-	-	-	-	-	-	-
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.01	-	-	-	-	-	-	-	-	-	-	-
Net loss per common share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.13	-	0.01	-	-	-0.28	-	-	-	-0.44	-0.20	-0.27	-0.30	-0.27	-0.30	-0.34	-0.30	-0.72	-0.32	-0.43	-0.25
Basic and diluted weighted average number of common shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	129,046	-	-	-	-	127,713	-	-	-	121,318	111,431	109,408	110,232	112,324	114,416	114,832	114,748	115,666	117,118	116,686	117,079