67 WALL STREET, New York - July 23, 2013 - The Wall Street Transcript has just published its Wireless Communications & Telecom Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Mobile Trends in Emerging Markets - 4G Infrastructure Capital Expenditures - Tower Cell Splitting - Global Wireless Spectrum Allocation - 4G LTE and 3G Infrastructure Upgrades
Companies include: American Tower Corp. (AMT), Crown Castle International Cor (CCI), SBA Communications Corp. (SBAC), AT&T, Inc. (T), Verizon Communications Inc. (VZ), Sprint Nextel Corp. (S), Dish Network Corp. (DISH) and many more.
In the following excerpt from the Wireless Communications & Telecom Report, an expert analyst discusses the outlook for the sector for investors:
TWST: You talked a little bit about the international profile of these companies. What is their international exposure? Are they at 50:50 domestic to international, or is it less even?
Mr. Lowe: They are not at 50:50. International is less than that. If you look at it by operator, American Tower has been the most aggressive in terms of trying to take this colocation model, which again is the shared infrastructure business model, and extend that into markets that are less mature.
In many cases, these markets mirror where the U.S. was probably 15 years ago, when most of the towers were owned by the operators and were primarily single-tenant towers. For the last several years, they have been very aggressively redeploying cash flow into emerging markets. They are getting just over 30% of their revenue now from international markets.
SBA now is getting more active in emerging markets as well, looking to extend their growth curve as the U.S. market continues to mature. Right now they have about 7% internationally, and they recently completed a transaction acquiring the rights to another 2,000 towers in Brazil, so they are starting to build up their international presence. That 7% is likely to increase over time.
Crown Castle is closer to about 5% or 6% of their business internationally, which they get from their Australian business. Outside of that business, they are 100% domestic.
TWST: Of the three, is there one that you like more than the others right now, and why?
Mr. Lowe: I have had the view for a while that it is primarily a sector call. The businesses are similar, but there are some...
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