CEDAR CREST, N.M.-Speciality Teleconstructors Inc. acquired substantially all of the assets of Ellis Tower Co. Inc., a Fort Lauderdale, Fla.-based wireless transmitting and receiving facilities builder.
Ellis Tower reported revenues of $3.8 million and net income of $415,000 for the 12-month period ended June 30, 1997.
Specialty also announced financial results for the quarter ended Sept. 30. Net earnings increased 20 percent to $788,097, or 10 cents per share, from $657,436, or 10 cents per share, for the same quarter last year. Revenues for the quarter were down 9 percent to $12.8 million from $14 million during the same quarter a year ago.
The company attributed its decreased revenues to lower levels of wireless infrastructure buildout and implementation activity in the United States during the quarter compared with last year’s third-quarter activity.
