Exhibit 99.1
Tuesday January 16, 7:59 am Eastern Time
Press Release
SOURCE: SpectraSite Holdings, Inc.
SpectraSite Reports Record Operational Results for Fourth Quarter
CARY, N.C., Jan. 16 /PRNewswire/ -- SpectraSite Holdings, Inc. ("SpectraSite")
(Nasdaq: SITE - news) today reported record operational results and collocation
tenant growth for the fourth quarter ended December 31, 2000. The Company added
1,121 new towers, ending the quarter with 5,030 towers. The Company added 505
new collocation tenants to its portfolio of owned towers, resulting in an actual
annualized collocation rate and an annualized broadband equivalent rate of 0.52
tenants per tower. In addition, the Company's average collocation rent remained
high at $1,502 per month.
"The events of this past year had a profound impact on our business," said Steve
Clark, Chief Executive Officer, SpectraSite. "Significant achievements in the
year included our expansion into Europe and Mexico, the formation of our
Building Division, and the tremendous growth of our US tower portfolio with the
acquisition of the SBC towers.
"From an operations standpoint, we consistently delivered record-setting results
each quarter this year. For the fourth quarter, our performance on an
operational level was excellent, with record new tower and tenant additions. We
made considerable progress on the integration of acquired towers, closing on 739
SBC towers and 126 Verizon (formerly AirTouch Cellular) towers. Additionally,
our collocation lease-up rate remained high during the fourth quarter, which is
traditionally a slower period, a clear indication that demand for our tower
space continues to be strong. The quality of our portfolio and strength of our
operating team combined with the rising demand for tower space creates great
momentum for us as we begin 2001."
SpectraSite will host a conference call to discuss the results today, January
16, 2001 at 11:00 a.m. (EST). Those wishing to listen to the call can dial
888-243-1681 or visit the company's investor relations web site at
www.spectrasite.com . A replay will be available until midnight, January 23,
2001 by dialing 800-633-8284 and entering the reservation code 17658584. The
replay will also be available on the company investor relations site.
About SpectraSite Communications, Inc.
SpectraSite Communications, Inc. ( www.spectrasite.com ), based in Cary, North
Carolina, is one of the leading providers of shared antennae sites and
outsourced network services to the wireless communications and broadcast
industries in the United States and Canada. SpectraSite's business includes
owning and leasing antennae sites on towers, owning and leasing in-building
wireless distribution systems, owning and managing rooftops, network planning
and deployment,
and construction of towers and related wireless facilities. Pro forma for all
pending transactions SpectraSite will own or manage more than 28,000 sites.
SpectraSite's customers are leading wireless communications providers and
broadcasters, including Nextel, SBC, Sprint PCS, AT&T Wireless, Verizon,
BellSouth, Telecorp, Teligent, Winstar, Metricom, Cox Broadcasting, Clear
Channel Communications and Paxson Communications.
This press release contains "forward-looking statements" concerning future
expectations, plans or strategies that involve a number of risks and
uncertainties. These statements are based on a number of assumptions that
management believes are reasonable based on current business trends as of the
date of this release. The Company wishes to caution readers that certain factors
may have affected the Company's actual results and could cause results for
subsequent periods to differ materially from those expressed in any
forward-looking statement made by or on behalf of the Company. Such factors
include, but are not limited to (i) substantial capital requirements and
leverage principally as a consequence of its ongoing acquisitions and
construction activities, (ii) dependence on demand for wireless communications,
(iii) the success of the Company's tower construction program and (iv) the
successful operational integration of the Company's business acquisitions. The
Company undertakes no obligation to update forward-looking statements to reflect
subsequently occurring events or circumstances.
SOURCE: SpectraSite Holdings, Inc.