On Friday, Shares of Crown Castle International Corp (NYSE:CCI), dropped -0.76% to $85.98.
Crown Castle International, stated results for the quarter ended March 31, 2015.
MERGED FINANCIAL RESULTS
Adjusted Funds from Operations (“AFFO”) raised 10% to $383 million in the first quarter of 2015, contrast to $349 million in the first quarter of 2014. AFFO per share raised 10% to $1.15 in the first quarter of 2015, contrast to $1.05 in the first quarter of 2014. Adjusted EBITDA for the first quarter of 2015 raised $27 million, or 5%,to $554 million from $527 million in the same period in 2014.
Total revenues for the first quarter of 2015 raised 7% to $941 million from $876 million for the same period in 2014. Site rental revenues for the first quarter of 2015 raised $20 million, or 3%, to $768 million from $747 million for the same period in the preceding year. Site rental gross margin, defined as site rental revenues less site rental cost of operations, raised $8 million, or 1%, to $527 million in the first quarter of 2015 from $519 million in the same period in 2014.
Net income attributable to CCIC common stockholders for the first quarter of 2015 was $112 million, contrast to $91 million of net income for the same period in 2014. Net income attributable to CCIC common stockholders per common share was $0.34 for the first quarter of 2015, contrast to $0.27 per common share in the first quarter of 2014. Funds from Operations (“FFO”) raised 11% to $373 million in the first quarter of 2015, contrast to $338 million in the first quarter of 2014. FFO per share raised 11% to $1.12 in the first quarter of 2015, contrast to $1.01 in the first quarter of 2014.
Adjusted EBITDA and AFFO for the first quarter of 2015 benefited from about $9 million in network services activity that was formerly predictable to occur in the second quarter of 2015. AFFO for the first quarter of 2015 also benefited from about $6 million in lower-than-predictable sustaining capital expenditures. Ignoring the benefit from the timing of these two items, Adjusted EBITDA and AFFO for the first quarter would be at or higher than the midpoint of our formerly offered first quarter 2015 Outlook. For full year 2015 Outlook, Crown Castle’s expectations for network services gross margin contribution and sustaining capital expenditures remain substantially unchanged from the formerly offered Outlook, reflecting differences in timing of events contrast to Crown Castle’s formerly offered quarterly Outlook.
Crown Castle provides wireless carriers with the infrastructure they need to keep people connected and businesses running. With about 40,000 towers and 14,000 small cell nodes supported by about 7,000 miles of fiber, Crown Castle is the nation’s largest provider of shared wireless infrastructure with a noteworthy presence in the top 100 US markets.
Shares of Eaton Corporation plc (NYSE:ETN), declined -0.75% to $68.58, during its last trading session.
The Board of Directors of power administration company Eaton Corporation, declared a quarterly dividend of $0.55 per ordinary share payable May 22, 2015 to shareholders of record at the close of business on May 4, 2015.
For U.S. tax purposes, Eaton estimates that all of the 2015 dividend will be treated as a return of capital to shareholders, to the extent of the shareholder’s tax basis in the shares.
Eaton has paid dividends on its common shares every year since 1923.
Eaton is a power administration company with 2014 sales of $22.6 billion. Eaton provides energy-efficient solutions that assist our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton has about 102,000 employees and sells products to customers in more than 175 countries.
Eaton Corporation plc operates as a power administration company worldwide. Its Electrical Products segment offers electrical components, industrial components, residential products, wiring devices, and structural support systems, in addition to single phase power quality, emergency lighting, fire detection, circuit protection, and lighting products.
At the end of Friday’s trade, Shares of St. Jude Medical Inc. (NYSE:STJ), dwindled -0.73% to $73.47.
St. Jude Medical, is upgraded by Credit Suisse on April 23, from “Neutral” to “Outperform”.
On April 20, St. Jude Medical, declared it has exercised the company’s exclusive option to acquire Spinal Modulation, Inc., developer of the Axium™ Neurostimulator System. Following the completion of this acquisition, St. Jude Medical will become the only medical device manufacturer to offer radiofrequency ablation (RFA), spinal cord stimulation (SCS) and dorsal root ganglion (DRG) stimulation therapy solutions for the treatment of chronic pain.
Once complete, the acquisition of Spinal Modulation, Inc. will further support St. Jude Medical’s mission to assist physicians tailor treatment to a patient’s chronic pain condition to achieve superior outcomes. Stimulation of the dorsal root ganglion (DRG) with the Axium system has been shown to provide meaningful relief for patients battling chronic pain, and is especially useful for treating focal pain areas often challenging to treat using traditional spinal cord stimulation (SCS).
The Axium system originally received CE Mark approval in November 2011 for the administration of chronic, intractable pain. In December 2014, Spinal Modulation declared that enrollment in its ACCURATE U.S. IDE trial had been accomplished. Spinal Modulation subsequently presented its PMA application to the FDA in support of marketing approval in the United States. Results from the ACCURATE Study will be presented at the 12th annual International Neuromodulation Society (INS) Congress, to be held in Montreal, Quebec, Canada, June 6-11, 2015.
St. Jude Medical, Inc., together with its auxiliaries, develops, manufactures and distributes cardiovascular medical devices for cardiac rhythm administration, cardiovascular, and atrial fibrillation therapy areas worldwide.
Finally, Dover Corporation (NYSE:DOV), ended its last trade with -0.73% loss, and closed at $73.84.
Dover Corporation, declared that it has accomplished the formerly declared sale of its Sargent Aerospace & Defense unit, headquartered in Tucson, Arizona, to RBC Bearings Incorporated (ROLL) for $500 million.
Dover Corporation manufactures and sells a range of equipment and components, specialty systems, and support services in the United States. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
