| Income Statement for SBA Communications Corp. (SBAC) | | | | | | | Income | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Operating Revenue | 408,201 | 351,102 | 259,991 | 231,482 | 212,060 | | Adjustments to Revenue | - | - | - | - | - | | Cost of Revenue | (163,918) | (152,111) | (114,064) | (101,878) | (114,611) | | Gross Operating Profit | 244,283 | 198,991 | 145,927 | 129,604 | 97,449 | | | Selling/General/Admin Expense | (45,569) | (42,277) | (28,178) | (35,979) | (31,244) | | Research & Development | - | - | - | - | - | | EBITDA | 198,714 | 156,714 | 117,749 | 93,625 | 66,205 | | Depreciation & Amortization | (177,201) | (149,147) | (115,956) | (120,701) | (94,715) | | EBIT | 21,513 | 7,567 | 1,793 | (27,076) | (28,510) | | Interest Income | 10,182 | 3,814 | 2,096 | 516 | 692 | | Other Income, Net | (15,777) | 692 | (367) | 236 | 169 | | Total Income Avail For Interest Expense | 15,487 | (44,803) | (25,799) | (67,771) | (71,338) | | Interest Expense | (92,498) | (88,128) | (66,745) | (75,542) | (90,778) | | Pre-Tax Income | (77,011) | (132,931) | (92,544) | (143,313) | (162,116) | | Income Taxes | (868) | (517) | (2,104) | (710) | (1,820) | | Minority Interest | - | - | - | - | - | | Net Income from Continuing Operations | (77,879) | (133,448) | (94,648) | (144,023) | (163,936) | | Net Income from Discontinued Operations | - | - | (61) | (3,257) | (7,690) | | Net Income from Total Operations | (77,879) | (133,448) | (94,709) | (147,280) | (171,626) | | | Normalized Income | (77,448) | (76,572) | (65,327) | (102,576) | (120,247) | | Extraordinary Income | - | - | - | - | - | | Special Income/Charges | (431) | (56,876) | (29,321) | (41,447) | (43,689) | | Income from Cum. Effect of Acct Change | - | - | - | - | (545) | | Income from Tax Loss Carryforward | - | - | - | - | - | | Other Gains | - | - | - | - | - | | Total Net Income | (77,879) | (133,448) | (94,709) | (147,280) | (172,171) | | | Results | in Dollars (Preferred Dividends in Thousands) | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Dividends Paid Per Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Preferred Dividends | - | - | - | - | - | | | Basic EPS from Continuing Operations | -0.74 | -1.36 | -1.28 | -2.47 | -3.14 | | Basic EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | -0.05 | -0.15 | | Basic EPS from Total Operations | -0.74 | -1.36 | -1.28 | -2.52 | -3.29 | | | Diluted EPS from Continuing Operations | -0.74 | -1.36 | -1.28 | -2.47 | -3.14 | | Diluted EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | -0.05 | -0.15 | | Diluted EPS from Total Operations | -0.74 | -1.36 | -1.28 | -2.52 | -3.29 | | | |
