Crown Castle International Reiterates Second Quarter and Full Year 2007 Outlook
Crown Castle International Corp. engineers, deploys, owns and operates technologically advanced shared wireless infrastructure, including extensive networks of towers. Crown Castle offers significant wireless communications coverage to 91 of the top 100 U.S. markets and to substantially all of the Australian population. Crown Castle owns, operates and manages over 22,000 and over 1,400 wireless communication sites in the U.S. and Australia, respectively. For more information on Crown Castle, please visit http://www.crowncastle.com.
Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements and information that are based on our management's current expectations. Such statements include, but are not limited to, plans, projections, and estimates regarding our Outlook, including as such Outlook relates to (i) site rental revenue, (ii) site rental cost of operations, (iii) site rental gross margin, (iv) Adjusted EBITDA, (v) interest expense and amortization of deferred financing costs, (vi) sustaining capital expenditures, (vii) recurring cash flow (including recurring cash flow per share) and (viii) net loss (including net loss per share). Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including but not limited to prevailing market conditions and the following:
* The merger of Global Signal Inc. ("Global Signal") into a
subsidiary of Crown Castle ("Merger") may cause disruptions in our
business, which may have an adverse effect on our business and
financial results.
* The assets of Global Signal acquired in the Merger may not perform
as expected, which may have an adverse effect on our business,
financial condition or results of operations.
* The integration of Global Signal is expected to result in
substantial expenses and may present significant challenges.
* Our business depends on the demand for wireless communications and
towers, and we may be adversely affected by any slowdown in such
demand, including a slow down attributable to wireless carrier
consolidation or by the sharing of networks by wireless carriers.
* The loss or consolidation of, network sharing among, or financial
instability of any of our limited number of customers may
materially decrease revenues.
* Our substantial level of indebtedness may adversely affect our
ability to react to changes in our business and limit our ability
to use debt to fund future capital needs.
* An economic or wireless telecommunications industry slowdown may
materially and adversely affect our business (including reducing
demand for our towers and network services) and the business of our
customers.
* We operate in a competitive industry, and some of our competitors
have significantly more resources or less debt than we do.
* Technology changes may significantly reduce the demand for tower
leases and negatively impact the growth in our revenues.
* New wireless technologies may not deploy or be adopted by
customers as rapidly or in the manner projected.
* We generally lease or sublease the land under our towers and may
not be able to extend these leases.
* We may need additional financing, which may not be available, for
strategic growth opportunities.
* Modeo's business has certain risk factors different from our core
tower business, including an unproven business model, and may fail
to operate successfully and produce results that are less than
anticipated. In addition, Modeo's business may require additional
financing which may not be available.
* FiberTower's business has certain risk factors different from our
core tower business (including an unproven business model and the
Risk Factors set forth in its SEC filings) and may produce results
that are less than anticipated, resulting in a write off of all or
part of our investment in FiberTower. In addition, FiberTower's
business may require additional financing which may not be
available.
* Laws and regulations, which may change at any time and with which
we may fail to comply, regulate our business.
* Sales or issuances of a substantial number of shares of our common
stock may adversely affect the market price of our common stock.
* We are heavily dependent on our senior management.
* Our network services business has historically experienced
significant volatility in demand, which reduces the predictability
of our results.
* We may suffer from future claims if radio frequency emissions from
wireless handsets or equipment on our towers are demonstrated to
cause negative health effects.
* Certain provisions of our certificate of incorporation, bylaws and
operative agreements and domestic and international competition
laws may make it more difficult for a third party to acquire
control of us or for us to acquire control of a third party, even
if such a change in control would be beneficial to our
stockholders.
* Disputes with customers and suppliers may adversely affect
results.
* We may suffer losses due to exposure to changes in foreign
currency exchange rates relating to our operations outside the U.S.
Should one or more of these or other risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors which could affect our results is included in our filings with the Securities and Exchange Commission.
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: Crown Castle International Corp.
Crown Castle International Corp.
Ben Moreland, CFO
Jay Brown, Treasurer
713-570-3000