American Tower revenue up 23.8% at $696.5 million in Q1 2012

Telecom Lead America: American Tower Corporation has
posted revenue of $696.5 million for the first quarter of 2012, up 23.8
percent, against $562.6 million for the same quarter of 2011.

The company’s total rental and management revenue
increased 25.1 percent to $684.0 million, against $546.6 million for Q1 2011.

Net income of the company was $221.3 million for Q1 2012,
against $91.8 million for the same quarter of previous year.

The company has posted total operating expenses at $422
million for the first quarter, against $344.3 million for the same quarter of

During the first quarter of 2012, total capital
expenditures of $121.0 million included $63.7 million for capital projects,
including the construction of 29 communications sites domestically and 597
towers internationally and the installation of 109 shared generators

The company spent $14.7 million to purchase land under
the Company’s towers, $22.8 million for the redevelopment of existing
communications sites and $19.8 million for capital improvements and corporate
capital expenditures.

Furthermore, the Company spent $159.4 million, which
consisted of $15.5 million for the purchase of 35 domestic towers and $143.9
million for amounts due from acquisitions, which closed in December of 2011.
Subsequent to the end of the first quarter of 2012, the Company funded its
acquisition of 800 towers in Brazil.

The Company completed the acquisition of 35 towers
domestically and acquired 800 towers in Brazil from a wireless service

Due to our unique global reach, American Tower is
positioned to benefit from strong secular trends in wireless telecommunications
in both the US and around the world. As a result of our robust first quarter
performance and recent acquisition activities, we have increased the midpoint
of our full year 2012 outlook for rental and management revenue, Adjusted
EBITDA and AFFO growth to over 16 percent, 14 percent and 11 percent,
respectively,” said Jim Taiclet, chief executive officer of American Tower.

The company said that it is currently committed to deploy
over $1.5 billion of capital during 2012, which includes spending on its annual
capital expenditure program and acquisitions. The company expects that these disciplined
investments will support our internal goal of generating double digit annual
AFFO growth.

[email protected]