$SBAC
SBA COMMUNICATIONS CORP

2013 Q2 Form 10-Q Financial Statement

#000119312513212440 Filed on May 10, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2013 Q1 2012 Q1
Revenue $324.3M $313.1M $192.5M
YoY Change 41.53% 62.64% 14.75%
Cost Of Revenue $103.7M $100.7M $52.19M
YoY Change 56.67% 92.93% 2.94%
Gross Profit $220.6M $212.4M $140.3M
YoY Change 35.37% 51.38% 19.87%
Gross Profit Margin 68.02% 67.84% 72.89%
Selling, General & Admin $21.51M $20.43M $17.22M
YoY Change 21.21% 18.68% 8.27%
% of Gross Profit 9.75% 9.62% 12.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $69.50M $63.50M $45.60M
YoY Change 31.88% 39.25% -39.12%
% of Gross Profit 31.51% 29.9% 32.5%
Operating Expenses $21.51M $20.43M $17.22M
YoY Change 21.21% 18.68% -81.02%
Operating Profit $49.53M $56.77M $40.29M
YoY Change 42.59% 40.89% 68.58%
Interest Expense -$78.50M $59.47M $42.25M
YoY Change -278.81% 40.75% -205.62%
% of Operating Profit -158.48% 104.76% 104.86%
Other Income/Expense, Net -$83.56M -$79.78M -$61.61M
YoY Change -4.09% 29.49% 287.5%
Pretax Income -$34.02M -$23.02M -$21.32M
YoY Change -35.05% 7.94% -36.72%
Income Tax $1.875M -$641.0K $1.327M
% Of Pretax Income
Net Earnings -$35.90M -$22.38M -$22.63M
YoY Change -32.86% -1.13% -33.93%
Net Earnings / Revenue -11.07% -7.15% -11.76%
Basic Earnings Per Share
Diluted Earnings Per Share -$281.1K -$176.2K -$190.2K
COMMON SHARES
Basic Shares Outstanding 127.6M shares 127.0M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q2 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $194.8M $126.4M $531.3M
YoY Change 112.2% -76.21% 445.48%
Cash & Equivalents $189.4M $122.2M $525.6M
Short-Term Investments $5.400M $4.200M $5.700M
Other Short-Term Assets $73.80M $67.20M $32.40M
YoY Change -55.83% 107.41% -20.39%
Inventory
Prepaid Expenses $37.44M $40.33M
Receivables $47.78M $49.46M $40.90M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $352.1M $269.9M $604.6M
YoY Change 16.14% -55.35% 248.67%
LONG-TERM ASSETS
Property, Plant & Equipment $2.570B $2.655B $1.575B
YoY Change 24.37% 68.57% 2.41%
Goodwill
YoY Change
Intangibles $3.088B $3.085B
YoY Change 45.58%
Long-Term Investments
YoY Change
Other Assets $393.9M $375.5M $262.3M
YoY Change 50.48% 43.16% 17.1%
Total Long-Term Assets $6.132B $6.180B $3.482B
YoY Change -2.54% 77.48% 5.74%
TOTAL ASSETS
Total Short-Term Assets $352.1M $269.9M $604.6M
Total Long-Term Assets $6.132B $6.180B $3.482B
Total Assets $6.485B $6.450B $4.087B
YoY Change -1.68% 57.83% 17.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.10M $22.71M $13.10M
YoY Change 43.18% 73.39% 0.77%
Accrued Expenses $39.98M $39.41M $44.40M
YoY Change 27.03% -11.23% 1.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $10.00M $478.5M $5.000M
YoY Change -98.91% 9469.08%
Total Short-Term Liabilities $212.9M $675.1M $113.9M
YoY Change -79.74% 492.75% -5.24%
LONG-TERM LIABILITIES
Long-Term Debt $5.631B $4.885B $3.565B
YoY Change 82.16% 37.03% 18.64%
Other Long-Term Liabilities $204.7M $192.8M $135.9M
YoY Change 28.57% 41.84% 17.56%
Total Long-Term Liabilities $5.836B $5.078B $3.701B
YoY Change 79.53% 37.21% 18.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $212.9M $675.1M $113.9M
Total Long-Term Liabilities $5.836B $5.078B $3.701B
Total Liabilities $6.049B $5.753B $3.827B
YoY Change 40.62% 50.33% 17.64%
SHAREHOLDERS EQUITY
Retained Earnings -$2.520B -$2.485B
YoY Change 6.92%
Common Stock $1.278M $1.273M
YoY Change 5.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $435.7M $696.6M $259.6M
YoY Change
Total Liabilities & Shareholders Equity $6.485B $6.450B $4.087B
YoY Change 35.27% 57.83% 17.9%

Cashflow Statement

Concept 2013 Q2 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income -$35.90M -$22.38M -$22.63M
YoY Change -32.86% -1.13% -33.93%
Depreciation, Depletion And Amortization $69.50M $63.50M $45.60M
YoY Change 31.88% 39.25% -39.12%
Cash From Operating Activities $134.0M $94.23M $66.04M
YoY Change 59.33% 42.68% 24.14%
INVESTING ACTIVITIES
Capital Expenditures -$33.80M $36.42M $24.85M
YoY Change 44.44% 46.56% -223.03%
Acquisitions $47.18M $209.5M $51.15M
YoY Change -94.76% 309.68%
Other Investing Activities -$47.00M -$1.308M -$110.0K
YoY Change -94.79% 1089.09% -99.88%
Cash From Investing Activities -$80.70M -$244.7M -$75.89M
YoY Change -91.28% 222.38% -30.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $283.9M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.20M 37.80M 488.1M
YoY Change -96.22% -92.26% 464.92%
NET CHANGE
Cash From Operating Activities 134.0M 94.23M 66.04M
Cash From Investing Activities -80.70M -244.7M -75.89M
Cash From Financing Activities 15.20M 37.80M 488.1M
Net Change In Cash 68.50M -112.6M 478.2M
YoY Change -115.61% -123.55% 1447.71%
FREE CASH FLOW
Cash From Operating Activities $134.0M $94.23M $66.04M
Capital Expenditures -$33.80M $36.42M $24.85M
Free Cash Flow $167.8M $57.81M $41.19M
YoY Change 56.09% 40.34% -43.89%

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CY2013Q1 sbac Convertible Notes Conversion Criteria Associated With Common Stock And Convertible Notes Trading Price
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CY2013Q1 sbac Convertible Notes Conversion Criteria Associated With Common Stock Trading Price
ConvertibleNotesConversionCriteriaAssociatedWithCommonStockTradingPrice
The last reported sale price of the Company's Class A common stock for at least 20 trading days in the 30 consecutive trading day period ending on the last trading day of the preceding calendar quarter is more than 130% of the applicable conversion price per share of Class A common stock on the last day of such preceding calendar quarter
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CY2012Q1 us-gaap Provision For Doubtful Accounts
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CY2012Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
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742000
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CY2012Q1 us-gaap Revenues
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CY2012Q1 us-gaap Amortization Of Intangible Assets
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CY2012Q1 us-gaap Depreciation
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CY2012Q1 us-gaap Payments For Proceeds From Other Investing Activities
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CY2012Q1 us-gaap Allocated Share Based Compensation Expense
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CY2012Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2012Q1 us-gaap Interest Expense
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CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2012Q1 us-gaap Business Combination Acquisition Related Costs
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CY2012Q1 sbac Weighted Average Number Basic Diluted Shares Outstanding
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CY2012Q1 sbac Noncash Interest Expense
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CY2012Q1 sbac Earnouts
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CY2012Q1 sbac Ground Lease Extensions
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CY2012Q1 sbac Capital Expenditures
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CY2012Q1 sbac Business Acquisition Contingent Consideration Income Expense Net
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CY2012Q1 sbac Asset Impairment And Decommission Costs
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349000
CY2012Q1 sbac Noncash Asset Impairment And Decommission Costs
NoncashAssetImpairmentAndDecommissionCosts
349000

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