(RTTNews) - Tuesday, Crown Castle International Corp. (CCI), reported a third quarter loss that narrowed from a year ago, on higher revenue from increasing demand for wireless communication services, including fourth generation wireless data services.

Crown Castle's third quarter net loss attributable to CCIC stockholders after deduction of dividends on preferred stock declined to $36.84 million from a net loss of $37.40 million during the year-ago period. Net loss attributable to CCIC common stockholders, after deduction of dividends on preferred stock was $0.13 per share for the third quarter of 2009 as well as the year-ago period.

On average, eleven analysts polled by Thomson Reuters estimated a loss of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.

Total net revenues for the third quarter increased significantly to $429.07 million from $384.34 million in the year-ago period. Twelve Street analysts' estimated revenues of $419.06 million for the quarter.

Ben Moreland, president and chief executive officer, Crown Castle said, "We are experiencing solid growth in our business and remain excited about the strong fundamentals underlying our industry, driven by the increasing demand for wireless communication services, including fourth generation wireless data services."

Segment-wise, site rental revenues increased to $396.46 million from $353.98 million during the quarter, while network services and other revenues increased to $32.61 million from $30.36 million in the year-ago period.

The company's total cost of operations increased slightly during the quarter to $136.51 million from $136.29 million in the year-ago period.

General and administrative expenses during the quarter increased to $39.23 million from $37.43 million, while asset write-down charges increased to $3.07 million from $2.90 million year-ago. Depreciation, amortization and accretion declined slightly to $131.46 million from $131.71 million during the comparable period year-ago.

According to Crown Castle, interest expense and amortization of deferred financing costs incurred during the quarter increased to $111.16 million from $88.13 million year-ago. Also there was a loss of $4.84 million on purchases and redemptions of debt during the quarter. However, there was no impairment of available-for-sale securities during the quarter, while there was a charge of $23.71 million towards the same in the prior year period.

The net loss on interest rate swaps during the quarter was $58.32 million, compared with a gain of $2.40 million year-ago. Interest and other income during the quarter was $2.56 million, compared with a loss of $0.847 million in the year-ago period.

On October 20, Crown Castle issued $500 million of 7.125% senior notes due in 2019. The proceeds of these notes will be used for general corporate purposes, which may include the repayment or repurchase of certain outstanding indebtedness of its subsidiaries.

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