American Tower predicts strong earnings in 2007

American Tower Corp. today forecast that its full-year 2007 income from continuing operations would more than double.

The company, which operates broadcast and communications towers, says the growth will be propelled by higher rental and management segment revenue.

American Tower projected 2007 earnings from continuing operations of $77 million to $93 million, well above the $28.3 million booked in 2006.

American Tower also forecast rental and management segment revenue of $1.4 billion to $1.42 billion, up at least 8.5 percent from the $1.29 billion posted in 2006.

The company also said it moved to a profit in the fourth quarter on sharply higher revenue, and the absence of a hefty accounting charge. (AP)