COMMUNICATIONS SALES & LEASING, INC (CSAL) swung to a net loss for the quarter ended Sep. 30, 2016. The company has made a net loss of $2.34 million, or $ 0.03 a share in the quarter, against a net profit of $9.40 million, or $0.06 a share in the last year period.    

Revenue during the quarter grew 15.32 percent to $200.24 million from $173.63 million in the previous year period.

Operating loss for the quarter was $37.42 million, compared with an operating loss of $0.51 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $175.68 million compared with $165.04 million in the prior year period. At the same time, adjusted EBITDA margin contracted 732 basis points in the quarter to 87.73 percent from 95.05 percent in the last year period.  

"This portfolio is a very attractive investment for our tower business with nearly 90% of the revenues from the major wireless carriers, and approximately 60% from existing CSAL customers" said Kenny Gunderman, president and chief executive officer of CS&L. "This portfolio further positions us to benefit from growth opportunities in Latin America as the wireless carriers continue to deploy mission critical communication infrastructure." CS&L’s tower business will now operate under the name Uniti Towers and will be led by Lawrence Gleason as President.

Net receivables were at $15.85 million as on Sep. 30, 2016, up 859.78 percent or $14.20 million from year-ago. Accounts payable stood at $37.92 million as on Sep. 30, 2016.

Total assets grew 22.68 percent or $594.76 million to $3,217.53 million on Sep. 30, 2016. On the other hand, total liabilities were at $4,504.49 million as on Sep. 30, 2016, up 21.25 percent or $789.52 million from year-ago.

Return on assets was negative at 0.07 percent in the quarter against a positive 2.89 percent in the last year period.