Tower operator SBA Communications (SAC) is expected to continue a...

Tower operator SBA Communications (SAC) is expected to continue assertively adding towers, to the tune of about 700 this year, said a report from Gaffers & Company. SAC said it has bought 88 towers and built 20 in the first quarter, has acquired 40 since March 31, and has agreed to buy up to 579 more. Gaffers expects all this acquisitions to close this year, increasing SAC’s tower total 12 percent. SAC reported total revenue of $109.9 million in the first quarter, beating Gaffers’ estimate of $109.1 million. Site-leasing revenue of $89.4 million was up 16.8 percent over the year earlier period and site leasing segment operating profit of $67.3 million was up 20.4 percent, the company said. The company expects to exceed the high end of the portfolio growth goals for 2008, said SAC President Jeffrey Stoops. Longer term, SAC is encouraged by the spectrum auctions and the growth in the wireless data service being delivered by its customers, Stoops said. “We believe that both will have a positive impact on future demand for our tower space and services,” he said.