UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF
1934.
Date of Report March 7, 2002
SBA COMMUNICATIONS CORPORATION
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(Exact name of registrant as specified in its charter)
Florida 000-30110 65-0716501
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(State or other jurisdiction of Commission File Number (I.R.S. Employer
incorporation or organization) Identification No.)
5900 Broken Sound Boulevard NW 33487
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(Address of principal executive (Zip code)
offices)
(561) 995-7670
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(Registrant's telephone number, including area code)
Item 5 Other Information
SBA Communications Corporation ("SBA" or the "Company")
announced significant increases in revenues and EBITDA for the
three months ended December 31, 2001, over the same period in
2000. Total revenues, site development revenue, site leasing
revenue and EBITDA for the three months ended December 31,
2001 were all quarterly record amounts.
For the three months ended December 31, 2001, total revenues
increased 29.1% to $69.2 million from the fourth quarter of
2000, due to both higher site leasing revenue and site
development revenue. Site leasing revenue increased to $30.3
million for the quarter, an 84.0% increase over the fourth
quarter of 2000. Site development revenue for the quarter
increased 4.7% to $38.9 million from the fourth quarter of
2000. Earnings before interest, taxes, depreciation,
amortization and non-cash compensation charges ("EBITDA") for
the quarter were $18.9 million, an 82.8% increase over the
fourth quarter of 2000. Loss per share was $(.62) for the
three months ended December 31, 2001 compared to $(.12) in the
2000 period. In the fourth quarter the Company built 143
towers and acquired 127 towers, ending the year with 3,734
towers in our portfolio. Based on tenant leases executed as of
December 31, 2001, same tower revenue and cash flow growth for
the trailing twelve months on the 2,390 towers owned as of
December 31, 2000 was 24% and 29%, respectively.
Item 7 Financial Statements and Exhibits
99.1 Press release dated February 27, 2002
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
March 7, 2002 /s/ John F. Fiedor
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John F. Fiedor
Chief Accounting Officer