American Tower Corp, a wireless communications tower operator, said on Tuesday it was delaying the release of its 2004 earnings to complete a year-end audit of its financial statements. The company also said it expected to post a loss from continuing operations in 2005 of between $82 million and $66 million, or between 36 cents and 29 cents per share. American Tower said that its revenues for the year would range between $740 million and 759 million.
Wall Street analysts on average had forecast a loss of 18 cents per share and revenues of about $753 million for the year, according to Reuters Estimates.
The postponement of the company's earnings release relates to its previously announced restatement of its historical financial statements to correct it accounting practices for ground leases and related depreciation, the company said in a statement.
Comments
Comments are closed.