CHICAGO, Oct. 18, 2018 /PRNewswire/ -- RSM US LLP ("RSM") - the nation's leading provider of audit, tax and consulting services focused on the middle market - today announced the launch of CLEARthru(TM) as the first enterprise resource planning (ERP)-based blockchain traceability solution that brings best-in-class supply chain integrity, safety and product source tracking information to consumers through the use of blockchain.
VANCOUVER, Oct. 18, 2018 /PRNewswire/ - Canadian blockchain technology company Etherparty Smart Contracts, Inc.("Etherparty") is excited to announce a significant milestone in their upcoming launch of Rocket 2.0.
NEW YORK, Oct. 17, 2018 /PRNewswire/ -- Quantreq Capital Markets, LLC, an international provider of cryptocurrency capital market services and the first crypto fund-only administrator with over $1 billion in assets under administration, announced today its partnership with blockchain technology developer and engineering firm Cryptonomic to further assist in development, deployment and support of its prime services group.
Etherparty - Rocket 2.0 launch to include security tokens, IPFS, and much more
VANCOUVER, Oct. 18, 2018 /CNW/ - Canadian blockchain technology company Etherparty Smart Contracts, Inc.("Etherparty") is excited to announce a significant milestone in their upcoming launch of Rocket 2.0. Rocket, the first official software product of Etherparty, is the most user-friendly token crowdsale creator in the market. It allows users to launch and track their project without the need of a development team. The end-to-end solution, currently designed for utility token-based projects, will soon have the option to deploy security tokens in the in the next phase. This new feature will be called the Real Security Token Standard or "RSTS". On top of this, version 2.0 will also be integrating InterPlanetary File System (IPFS) to support the new Security Token system and ensure all blockchain project documentation is secure, accessible, and transparent. Soon, blockchain projects that want to release a security token-based crowdsale and for those projects levying a system that underpins securitized assets, will be able to be supported. "This is an exciting milestone in the evolution of our product. Rocket 2.0 really represents what security tokens should be - having the ability to link real world assets and securitize them while using AML, KYC, filing in jurisdictions, dividends, voting, whitelisting, and storing actual documents in IPFS." said Lisa Cheng, founder and Head of R&D for Etherparty. "We are calling this the Real Security Token Standard, RSTS." Rocket already has over 600 projects signed up that are interested in using the token crowdsale creator. Visit rocket.etherparty.com for more information about Etherparty's token creation software. See etherparty.com for company information, including other software products developed by Etherparty. ABOUT ETHERPARTYEtherparty is a blockchain platform working to enable a connected and inclusive world by building easy-to-use, versatile and intuitive smart contract solutions. The crowdfunding application, Rocket, is the first product in a line of blockchain solutions to be deployed by the Vancouver, B.C.-based technology company. Visit: etherparty.com and rocket.etherparty.com. View original content to download multimedia:http://www.prnewswire.com/news-releases/etherparty---rocket-2-0-launch-to-include-security-tokens-ipfs-and-much-more-300733270.html SOURCE Etherparty
CHICAGO and DENVER, Oct. 15, 2018 /PRNewswire/ -- CQG, a leading global provider of high-performance trading, market data, and technical analysis tools, announced today a new partnership with Nasdaq Fixed Income (NFI). Under the agreement, NFI will provide the web-based CQG Desktop platform to NFI customers as the official front-end for trading NFI's U.S. Treasury Benchmark products.
SAN FRANCISCO and NEW YORK, Oct. 2, 2018 /PRNewswire/ -- Today, Bessemer Venture Partners and Nasdaq, Inc. announced the launch of the BVP Nasdaq Emerging Cloud Index, an industry index designed to track the performance of public companies providing cloud software and services.
NEW YORK, Sept. 25, 2018 /PRNewswire/ -- IPC, a leading global provider of secure, compliant communications and networking solutions for the financial markets community, announced today that the company has ranked number 38 on the 2018 IDC Financial Insights FinTech Rankings Top 100.
Infosys (NYSE: INFY) Announces Results for the Quarter Ended September 30, 2018
BENGALURU, India, October 16, 2018 /PRNewswire/ -- Broad-based Growth and Digital Resulted in a Strong Q2 19   "We are delighted with our broad-based growth across all business segments and geographies during the quarter. This is a testimony to our strong client relationships, digital led full service capabilities, and intense focus on the needs of our clients," said Salil Parekh, CEO and MD. "Large deal wins at over $2 billion during the quarter demonstrate our increased client relevance and also give us better growth visibility for the near-term."      (Logo: https://mma.prnewswire.com/media/633365/Infosys_Logo.jpg ) $2 Bn+ Large deal signings in Q2 19 4.2% Q2 19 QoQ revenue growth in CC terms 31.0% Digital revenue share in Q2 19 7.1% H1 19 YoY revenue growth in CC terms 23.7% Operating margin in Q2 19 Q2 19 revenues grew year-on-year by 7.1% in USD terms; 8.1% in constant currency terms Q2 19 revenues grew sequentially by 3.2% in USD terms; 4.2% in constant currency terms Digital revenues at $905 million (31.0% of total revenues), year-on-year growth of 33.5% and sequential growth of 13.5% in constant currency terms H1 revenues grew by 6.9% in USD terms; 7.1% in constant currency terms Operating margin 23.7%, at higher end of guidance range Q2 19 Basic EPS grew year-on-year by 5.7% in USD terms Large deal wins crossed $2 billion Declared interim dividend of ₹7 per share (approximately $0.10 per ADS*) FY 19 revenue guidance in constant currency retained at 6%-8%; Operating margin guidance retained at 22%-24% *USD/INR exchange rate as of September 30, 2018  Financial Highlights- Consolidated results under International Financial Reporting Standards (IFRS) - For the Quarter ended September 30, 2018  Revenues were $2,921 million, growth of 7.1% YoY and 3.2% QoQ Net profit was $581 million, growth of 0.5% YoY and 8.8% QoQ Basic EPS was $0.13, growth of 5.7% YoY and 8.8% QoQ - For six months ended September 30, 2018  Revenues were $5,753 million, growth of 6.9% YoY Net profit was $1,116 million, decline of 0.3% YoY Basic EPS was $0.26, growth of 4.8% YoY "We had another quarter of solid operating parameters with utilization being stable and offshore mix improving to all-time high," said U B Pravin Rao, COO. "Our Digital services grew double digits sequentially, while growth in top clients was also robust." "Our unwavering focus on strong financial performance on multiple fronts continued to deliver results during the quarter. Operating margins for the quarter as well as for the half year was at 23.7%, near the top end of our guidance band," said M.D. Ranganath, CFO. "Operating Cash Flow was over $1 billion during the first half of the year and ROE was at 24.7%. We will continue to make strategic investments in digital to leverage opportunities and at the same time keep sharp focus on key operational efficiency parameters." 2. Bonus issue of equity shares  The Company has allotted 2,18,41,91,490 fully paid up equity shares of face value ₹5/- each during the three months ended September 30, 2018 pursuant to a bonus issue approved by the shareholders through postal ballot. The bonus shares have been issued to celebrate 25th year of public listing in India and to further increase the liquidity of its shares. Bonus share of one equity share for every equity share held, and a bonus issue, viz., a stock dividend of one American Depositary Share (ADS) for every ADS held, respectively, has been allotted. Consequently, the ratio of equity shares underlying the ADSs held by an American Depositary Receipt holder remains unchanged. 3. Acquisitions  On September 7, 2018, Infosys Consulting Pte Limited (a wholly owned subsidiary of Infosys Limited) entered into a definitive agreement to acquire 60% stake in Trusted Source Pte Ltd (a wholly owned subsidiary of Temasek Management Services Pte. Ltd.), a Singapore-based IT services company for a total consideration of upto SGD 12 million (approximately $9 million), subject to regulatory approvals and fulfillment of closing conditions. On October 11, 2018, Infosys Consulting Pte Limited (a wholly owned subsidiary of Infosys Limited) acquired 100% of voting interests in Fluido Oy (Fluido), a Nordic-based salesforce advisor and consulting partner in cloud consulting, implementation and training services for a total consideration of upto Euro 65 million (approximately $75 million), comprising of cash consideration of Euro 45 million (approximately $52 million), contingent consideration of upto Euro 12 million (approximately $14 million) and retention payouts of upto Euro 8 million (approximately $9 million), payable to the employees of Fluido over the next three years, subject to their continuous employment with the group. The payment of contingent consideration to sellers of Fluido is dependent upon the achievement of certain financial targets by Fluido. 4. Update on arbitration proceedings  On September 17, 2018 the Arbitral Tribunal of Hon'ble Justice R.V. Raveendran (retired) communicated the decision with regard to the dispute between Infosys Ltd. and its former CFO Mr. Rajiv Bansal. The Company has received legal advice and will comply with the award and make the necessary payments. 5. Shareholder visit to Mysuru campus  Shareholders of the Company are being offered an opportunity to visit the Company's campus in Mysuru on November 24, 2018. Shareholders who would like to avail this opportunity need to register at http://www.infosys.com  between October 25, 2018 and November 15, 2018. As the number of shareholders the company can host on this visit are limited, shareholders will be accommodated on a first come, first serve basis. This visit is for shareholders only, and is not extended to family and friends. This follows several requests made by shareholders to visit the Company campus. The Company will provide transport from its registered office in Electronics City, Bengaluru and incur all associated costs for this visit from Bengaluru to Mysuru. About Infosys  Infosys is a global leader in next-generation digital services and consulting. We enable clients in 45 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem. Visit http://www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next. Safe Harbor  Certain statements mentioned in this release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2018. These filings are available at http://www.sec.gov . Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law. Infosys Limited and subsidiaries   Audited Condensed Consolidated Balance Sheet as at                (Dollars in millions except equity share data) September 30, 2018 March 31, 2018 ASSETS Current assets Cash and cash equivalents 2,462 3,041 Current investments 1,046 982 Trade receivables 2,039 2,016 Unbilled revenue 716 654 Prepayments and other current assets 662 662 Derivative financial instruments 3 2 6,928 7,357 Assets held for sale(3) 270 316 Total current assets 7,198 7,673 Non-current assets Property, plant and equipment 1,707 1,863 Goodwill 344 339 Intangible assets 50 38 Investment in associate - - Non-current investments 713 883 Deferred income tax assets 188 196 Income tax assets 839 931 Other non-current assets 249 332 Total non-current assets 4,090 4,582 Total assets 11,288 12,255 LIABILITIES AND EQUITY Current liabilities Trade payables 164 107 Derivative financial instruments 43 6 Current income tax liabilities 200 314 Client deposits 12 6 Unearned revenue 332 352 Employee benefit obligations 214 218 Provisions 85 75 Other current liabilities 1,080 1,036 2,130 2,114 Liabilities directly associated with assets held for sale(3) 48 50 Total current liabilities 2,178 2,164 Non-current liabilities Deferred income tax liabilities 66 82 Employee benefit obligations 6 7 Other non-current liabilities 50 42 Total liabilities 2,300 2,295 Equity Share capital- ₹5($0.16) par value 4,800,000,000 (2,400,000,000) equity shares authorized, issued and outstanding 4,347,452,598 (2,173,312,301), net of 20,930,382 (10,801,956) treasury shares as at September 30, 2018 (March 31, 2018), respectively 340 190 Share premium 261 247 Retained earnings 11,285 11,587 Cash flow hedge reserve (3) - Other reserves 348 244 Capital redemption reserve 9 9 Other components of equity (3,252) (2,317) Total equity attributable to equity holders of the company 8,988 9,960 Non-controlling interests - - Total equity 8,988 9,960 Total liabilities and equity 11,288 12,255 Infosys Limited and subsidiaries  Audited Condensed Consolidated Statement of Comprehensive Income for the                                                                                                   (Dollars in millions except equity share and per equity share data) Three months Three months Six months Six months ended ended ended ended September September 30, September 30, September 30, 2018 2017 2018 30, 2017 Revenues 2,921 2,728 5,753 5,379 Cost of sales 1,884 1,743 3,703 3,435 Gross profit 1,037 985 2,050 1,944 Operating expenses: Selling and marketing expenses 154 132 303 269 Administrative expenses 191 194 384 377 Total operating expenses 345 326 687 646 Operating profit 692 659 1,363 1,298 Other income, net 105 137 212 263 Reduction in the fair value of Disposal Group held for sale(3) - - (39) - Share in net profit/(loss) of associate, including impairment(4) - - - (11) Profit before income taxes 797 796 1,536 1,550 Income tax expense 216 218 420 431 Net profit 581 578 1,116 1,119 Other comprehensive income Items that will not be reclassified subsequently to profit or loss: Re-measurements of the net defined benefit liability/asset, net 1 1 1 1 Equity instruments through other comprehensive income, net 2 - 2 - Items that will be reclassified subsequently to profit or loss: Fair valuation of investments, net (2) 2 (9) 6 Fair value changes on derivatives designated as cash flow hedge, net (4) 3 (3) (7) Foreign currency translation (461) (107) (929) (47) Total other comprehensive income/(loss), net of tax (464) (101) (938) (47) Total comprehensive income 117 477 178 1,072 Profit attributable to: Owners of the Company 581 578 1,116 1,119 Non-controlling interests - - - - 581 578 1,116 1,119 Total comprehensive income attributable to: Owners of the Company 117 477 178 1,072 Non-controlling interests - - - - 117 477 178 1,072 Earnings per equity share(5) Basic ($) 0.13 0.13 0.26 0.24 Diluted ($) 0.13 0.13 0.26 0.24 Weighted average equity shares used in computing earnings per equity share Basic 4,347,055,177 4,571,730,722 4,346,857,296 4,571,524,372 Diluted 4,352,208,472 4,575,052,366 4,351,915,210 4,575,765,068 NOTES:   The audited condensed consolidated Balance sheet and Statement of Comprehensive Income for the three months and half year ended September 30, 2018 have been taken on record at the Board meeting held on October 16, 2018     2.  A Fact Sheet providing the operating metrics of the Company can be downloaded from www.infosys.com 3. During the three months ended June 30, 2018, on remeasurement, including consideration of progress in negotiations on offers from prospective buyers for Panaya, the Company has recorded a reduction in the fair value of Disposal Group held for sale amounting to $39 million in respect of Panaya. Consequently, profit for the half-year ended September 30, 2018 has decreased by $39 million, resulting in a decrease in Basic earnings per equity share by $0.01 (adjusted for September 2018 bonus issue) for the half-year ended September 30, 2018  4. During the quarter ended June 30, 2017, the Company has written down the entire carrying value of the investment in its associate DWA Nova LLC amounting to $11 million  5. Previous period share numbers and EPS have been adjusted for September 2018 bonus issue in accordance with IAS 33, Earnings per share  IFRS-INR Press Release: https://www.infosys.com/investors/reports-filings/quarterly-results/2018-2019/Q2/Documents/IFRS-INR-press-release.pdf Fact Sheet: https://www.infosys.com/investors/reports-filings/quarterly-results/2018-2019/Q2/Documents/fact-sheet.pdf   

CHICAGO, Oct. 11, 2018 /PRNewswire/ -- InfoReach, Inc., has created a feature-rich LiveTesting framework that became an integral part of the software testing operation.
BELMOPAN, Belize, October 10, 2018 /PRNewswire/ --
LONDON, September 28, 2018 /PRNewswire/ --
HBUS Announces First Ever PAI Coin Listing And Giveaway To U.S. Audience
SAN FRANCISCO, Oct. 12, 2018 /PRNewswire/ -- HBUS, one of the fastest growing U.S. digital currency exchanges, today announced the listing of PAI Coin on HBUS' digital currency marketplace. The listing will coincide with a 125,000 PAI Coin giveaway to new registered HBUS users. PAI Coin is developed by Project PAI, an open-source project developing the world's first blockchain-based platform for intelligent 3D AI avatars. "HBUS is committed to introducing groundbreaking blockchain projects to the American audience with disruptive potential," said Frank Fu, CEO of HBUS. "Project PAI has shown the vision and ability to execute on the evolution of artificial intelligence as it relates to each and every one of us." HBUS is the U.S. partner of Huobi, one of the world's largest digital currency marketplaces, and offers a wide variety of tokens and giveaways to the American audience. The promotion will take place from October 10th to October 24th, with deposits open on HBUS' digital currency marketplace on October 10th and trading beginning October 11th.  Makers will enjoy 0 trading fees and takers will enjoy 0.03% trading fees for PAI trading pairs (PAI/USDT, PAI/ETH, PAI/BTC) for the duration of the promotion. Find out more information about the giveaway and listing at HBUS.com. Find out more about Project PAI at ProjectPai.com. About HBUS HBUS is an advanced digital currency trading platform and the exclusive U.S. partner of Huobi, one of the world's largest digital currency marketplaces. HBUS offers a wider variety of token options and giveaways to American audiences, with 24/7 personal customer support and unparalleled security. Located in San Francisco, HBUS is founded by a team of proven technology executives and disruptive founders. HBUS operates under the highest of ethical standards and is committed to full U.S. legal compliance. For more information, visit the HBUS website (www.hbus.com) or follow on Twitter (https://twitter.com/HBUSofficial).   View original content to download multimedia:http://www.prnewswire.com/news-releases/hbus-announces-first-ever-pai-coin-listing-and-giveaway-to-us-audience-300730111.html SOURCE HBUS
NEW YORK, Oct. 17, 2018 /PRNewswire/ -- Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a boutique securities firm headquartered at the Empire State Building in New York City, is investigating the Board of Directors and Officers of MBT Financial Corp. ("MBT" or the "Company") (NasdaqGS: MBTF) for possible breaches of fiduciary duty relating to the sale of the company to First Merchants Corporation ("First Merchants"). Under the terms of the proposed transaction, MBT stockholders will receive 0.275 shares of First Merchants for each share of MBT common stock owned.
NEW YORK, Oct. 17, 2018 /PRNewswire/ -- Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a boutique securities firm headquartered at the Empire State Building in New York City, is investigating the Board of Directors and Officers of Idaho Independent Bank ("Idaho Independent Bank " or the "Company") (OTC: IIBK) for possible breaches of fiduciary duty relating to the sale of the company to First Interstate BancSystem, Inc. ("First Interstate"). Under the terms of the proposed transaction, Idaho Independent stockholders will receive 0.5 Class A shares of First Interstate for each share of Idaho Independent common stock owned.
NEW YORK, Oct. 17, 2018 /PRNewswire/ -- Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a boutique securities firm headquartered at the Empire State Building in New York City, is investigating the Board of Directors and Officers of Community First Bank ("Community First" or the "Company") (OTC: CMYF) for possible breaches of fiduciary duty relating to the sale of the company to First Interstate BancSystem, Inc. ("First Interstate"). Under the terms of the proposed transaction, shareholders of Community First will only receive $45.45 in cash for each share of Community First that they own.
ERA Real Estate Announces Collaboration With Move For Hunger To Stock Food Pantries Around The Country
MADISON, N.J., Oct. 18, 2018 /PRNewswire/ -- ERA Real Estate, a global franchising leader, today announced that they will be the first real estate brand to work on a national level with Move For Hunger, a non-profit organization that mobilizes the relocation industry to reduce food waste and fight hunger. The collaboration will enable the ERA®  network of participating brokers and their affiliated agents to tap into Move For Hunger's network of more than 1,000 relocation companies to collect food and fill food pantries in advance of the holiday season and support the ERA "Feed the Need" campaign. "Connecting with ERA agents and brokers both complements and advances our mission, so this collaboration was a natural fit," explained Adam Lowy, founder and executive director of Move For Hunger. "By combining the strength of our network of relocation companies with ERA Real Estate's network of brokers and agents, we have the ability to get food to those who need it most." "Millions of Americans face food insecurity every day and together with Move For Hunger, we can help put food on the tables of families across the country," said Simon Chen, president and CEO of ERA Real Estate. "We look forward to working with Move For Hunger to provide our passionate brokers and agents the opportunity to hold local food drives during the upcoming holiday season and beyond." The ERA "Feed the Need" campaign will kick off officially on Tuesday, November 27, also known as #Giving Tuesday, and will run through December 11. #GivingTuesday is a global day of giving fueled by the power of social media and collaboration. "ERA brokers and agents have a commitment to service that goes far beyond their residential real estate expertise," said Stephanie Reyna, national vice president of growth & engagement for ERA Real Estate. "We continue to be inspired by the way they step up and demonstrate leadership in their communities." The Feed the Need campaign officially launches with the following brokers and agents: ERA American Real Estate, ERA Neubauer Real Estate, Inc., ERA Davis & Linn, ERA Justin Realty Co., ERA Central Realty, ERA Home Run Real Estate, and ERA Old South Properties, Inc. with more to be announced. For more information, follow facebook.com/ERArealestate and #GivingTuesdayERA. About ERA Real EstateAt ERA Real Estate, we don't adapt to change, we create it. We believe that our core business values of collaboration, innovation, diversity and growth are needed now more than ever. As a global leader in the residential real estate industry for more than 40 years, ERA was the first real estate franchise to expand internationally, the first to post listings online, and is the only national company that offers the Sellers Security® Plan program.  The ERA Real Estate network includes 40,000 affiliated brokers and independent sales associates and approximately 2,300 offices throughout the United States and 31 other countries and territories. ERA Franchise Systems LLC (www.ERA.com) which operates the ERA Real Estate system, is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global provider of real estate services. ERA Real Estate information is available at www.ExploreERA.com. About Move For HungerMove For Hunger is a non-profit organization that mobilizes the relocation industry to fight hunger and reduce food waste. In addition to collecting food from people who are moving to new homes, Move For Hunger helps companies and individuals across the United States and Canada organize successful food drives. To date, they have collected more than 11.5 million pounds of food. For more information, or to find out how you can host your own food drive, visit www.MoveForHunger.org. Media Contact: Maggie Rohr973-407-4027maggie.rohr@teamera.com View original content to download multimedia:http://www.prnewswire.com/news-releases/era-real-estate-announces-collaboration-with-move-for-hunger-to-stock-food-pantries-around-the-country-300733656.html SOURCE ERA Real Estate
MILWAUKEE--(BUSINESS WIRE)-- REV Group (NYSE: REVG), a manufacturer of industry-leading specialty vehicle brands and a leading provider of parts and services, has announced the int
IRVING, Texas & UTRECHT, Netherlands--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that Stork, part of Fluor’s Diversified Services segment, was awarded a two-ye
LONDON--(BUSINESS WIRE)-- Technavio analysts forecast the global portable gas chromatography market to grow at a CAGR of over 5% during the forecast period, according to their late
Greenbelt Technology Helps Biofuels & Energy Secure Offtake Agreements
To Receive TEXT ALERTS On Greenbelt Resources TEXT "GRCO" To 522-36PASO ROBLES, Calif., Oct. 18, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE – Greenbelt Resources Corporation (OTC: GRCO) (Greenbelt), the developer of a sustainable ECOsystem model that transforms waste into revenue generating bioproducts, today announced that Biofuels and Energy, LLC (B&E), a New Mexico-based project development company planning to utilize Greenbelt’s proprietary technology for its SLV Biopro Project, has secured offtake agreements in excess of 40% of the projected bioethanol production of the Colorado project. â€œThe fact that Greenbelt’s technology is at the heart of this project has helped us to secure the offtake agreements,” said Richard Mason of B&E, adding “The ECOsystem model of utilizing local regional wastes and low value surplus materials as feedstocks ensures that our project will produce a premium sustainable bioethanol that is highly desirable by discerning customers.”          The SLV Biopro Project located in San Luis Valley, Colorado has progressed steadily since being announced earlier this year.  The total SLV Biopro Project budget is estimated at $9.0 million, depending on final location and production capacity, of which about $7.2 million is allocated to Greenbelt’s system.  This project is the first of three similar projects on B&E’s four-year time horizon and therefore potentially represents in excess of $20.0 million in sales for Greenbelt.It was announced last month that Greenbelt will provide fee-based engineering consulting services to B&E during the development phase of this project, which intends to utilize various food wastes and surplus, including potato industry processing waste and off-spec grains.“Greenbelt is committed to assisting B&E throughout its development phase,” says Darren Eng, CEO of Greenbelt. “We look forward to working with our customer to replicate the model and become a leading regional source of bioethanol and biobased protein.”Greenbelt is currently raising funds for two other projects focused on producing bioethanol for use in the cannabis industry as extraction solvent, using winery and brewery wastes as feedstocks: PRECO and the California BioEthanol Project.Greenbelt recently announced a profitable second quarter, primarily the result of a project for the Andrew J. Young Foundation, cultivating duckweed as a feedstock to produce bioethanol and biobased protein concentrate.About Greenbelt ResourcesGreenbelt Resources Corporationâ„¢ is an award-winning provider of automated, modular, small scale sustainable energy production systems, products and processes that enable local cost-effective processing and disposal of food, beverage and cellulosic waste to be converted into commercially viable saleable consumer products such as bio ethanol, protein concentrate and fertilizer.  Operating in several business segments, Greenbelt provides value added solutions to the cannabis, food, beverage and agricultural industries. For more information visit www.greenbeltresources.com.Forward-Looking Statements & Safe HarborThis document includes certain statements, predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the supply and demand for biofuels, our ability to remain technologically competitive and other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices.Contact:Darren Eng, CEOGreenbelt Resources Corporation                            888-995-GRCO (4726 x 101)                                                                          darren@greenbeltresources.comA photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/cc7ca61f-8871-4872-b27b-9a1b672463a3
TORONTO, Oct. 11, 2018 /CNW/ - Starlight Investments Capital LP ("Starlight Capital"), announced today the 2018 monthly distributions for its exchange-traded funds (ETFs). Unitholders of record will receive cash "per-unit" distributions as per the below schedule:
NEW YORK, Oct. 3, 2018 /PRNewswire/ -- Horizons ETF Trust I (the "Trust") announced today the addition of three portfolio managers to three series of the Trust (the "Funds"): Horizons NASDAQ 100 Covered Call ETF (QYLD), Horizons S&P 500 Covered Call ETF (HSPX) and Horizons DAX Germany ETF (DAX). Effective September 4, 2018, Chang Kim, James Ong and Nam To will join Jonathan Molchan as portfolio managers of each Fund.
NEW YORK, Oct. 3, 2018 /PRNewswire/ -- Horizons ETFs Management (US) LLC announce the board of Trustees (the "Board") of Horizons ETF Trust I unanimously approved an Agreement and Plan of Reorganization (the "Agreement") providing for the reorganizations (each, a "Reorganization" and, collectively, the "Reorganizations") of each of its series listed below (each, an "Acquired Fund" and, collectively, the "Acquired Funds") into the series of the Global X Funds listed below (each, an "Acquiring Fund" and, collectively, the "Acquiring Funds"):
Purpose Investments Inc. Wins Twice for Best Returns at the 2018 Canadian Hedge Fund Awards
TORONTO, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”), is very pleased to announce the recognition of two of its alternative funds at the 2018 Canadian Hedge Fund Awards, which was held the evening of October 16 at a gala dinner with 145 guests in attendance in downtown Toronto. The awards are judged strictly on one-year performance, from June 2017 through June 2018.Purpose Credit Opportunities Fund (“the Fund”) won the award for Best 1 Year Return in the Credit Focused category. The Fund is actively managed by our partner Sandy Liang, who leads credit strategies and fixed income at Purpose Investments. Purpose Credit Opportunities Fund posted an annualized return over the judging period of 12.29%, well ahead of the 4.43% annualized return of the HFRI Credit Index. The Fund combines active, bottom-up credit research with risk management through the use of various hedging tools to generate income while reducing volatility without the use of leverage. It is available for accredited investors through an offering memorandum in Series A (LGQ780) and Series F (LGQ781) through FundServ. Since its inception on June 30, 2014, Purpose Credit Opportunities Fund (Series F) has generated an annualized return of 10.67%.Purpose Multi-Strategy Market Neutral Fund (“PMM”) won the award for Best 1 Year Return in the Market Neutral category. PMM is managed in partnership with Neuberger Berman Breton Hill LLC, who have more than 20 years of experience running market neutral strategies for institutional clients. Since the founding of Purpose, the partnership with Neuberger Berman Breton Hill has been crucial to developing and making unique risk-managed and alternative investment prospectus-based products available to all investors. Purpose Multi-Strategy Market Neutral Fund posted an annualized return over the judging period of 10.77%, ahead of the 4.98% annualized return of the HFRI Equity Market Neutral Index. PMM employs classic hedge fund investment strategies such as long/short equity, and momentum and carry themes within currencies and commodities. It is available in ETF shares on the Toronto Stock Exchange under the ticker symbol “PMM.” It is also available in mutual fund Series A (PFC1400) and Series F (PFC1401) through FundServ. Since its inception on October 10, 2014, Purpose Multi-Strategy Market Neutral Fund (ETF Class) has generated an annualized return of 5.06%.“We set out five years ago to help change this industry for alternative investments and these awards validate our goal,” said Som Seif, President & CEO of Purpose Investments Inc. “What we’re doing as a company is extremely important, bringing innovation to the investing world. Winning these awards proves our products can compete with and beat the competition. All of our funds are powerful tools to help all types of investors build resilient portfolios to meet their long-term financial goals.”About Purpose’s family of alternative productsPurpose has been at the forefront of innovation in the alternative investments space, offering them through widely available prospectus-based products since 2013. In addition to the Canadian Hedge Fund Award winners, alternatives with Purpose also include the option-writing strategy, Purpose Premium Yield Fund (ETF ticker PYF), the hedged equity strategies Purpose Tactical Hedged Equity Fund (ETF ticker PHE) and Purpose International Tactical Hedged Equity Fund (ETF ticker PHW), as well Purpose Diversified Real Asset Fun (ETF ticker PRA).About the Annual Canadian Hedge Fund Awards The Annual Canadian Hedge Fund Awards were first held in 2008 and have a two-fold objective. First, the awards celebrate the talent and accomplishments of Canada's hedge fund industry, and second, they draw attention to Canada's hedge funds by raising the awareness of that expertise in the media and among the wider investment community.About Purpose InvestmentsPurpose Investments is an asset management company with approximately $6.3 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.For further information please contact:Matt PadanyiPurpose Investments Inc. Tel: (877) 789-1517 Email: info@purposeinvest.comCommissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This press release is not for dissemination in the United States or for distribution to US news wire services.A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/aa7f1b8c-2faf-4773-b57c-a3314f768f34 
LOS ANGELES, Oct. 15, 2018 /PRNewswire/ -- In a statewide first, Loyola Marymount University has sold approximately $90 million worth of "green bonds" via the California Educational Facilities Authority to construct new, sustainable student housing on the university's Westchester campus.
- New iBoxx(TM) ChinaBond indices expand foreign access to $12 trillion Chinese bond market
WASHINGTON, Oct. 5, 2018 /PRNewswire/ -- IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, rated Aa1/AA/AAA (Moody's/S&P), priced a new $500 million, three-year floating rate note, the first benchmark issuance under its new brand name in the Eurobond market.
Crown Castle Reports Third Quarter 2018 Results, Provides Outlook for Full Year 2019 and Announces 7% Increase to Common Stock Dividend
HOUSTON, Oct. 17, 2018 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE: CCI) ("Crown Castle") today reported results for the quarter ended September 30, 2018."We delivered another terrific quarter of results in the third quarter and increased our annualized common stock dividend by 7% to $4.50 per share based on accelerating leasing activity," stated Jay Brown, Crown Castle's Chief Executive Officer. "Over the past two decades, we have built and acquired an unmatched portfolio of more than 40,000 towers and 65,000 route miles of dense, high capacity fiber in the top U.S. markets, where we see the greatest long-term demand from multiple customers.  We believe our ability to offer towers, small cells and fiber solutions, which are all integral components of communications networks and are shared among multiple tenants, provides us the best opportunity to generate significant growth while delivering high returns for our shareholders.  Further, we believe that the U.S. represents the best market in the world for communications infrastructure ownership and we are pursuing that compelling opportunity with our comprehensive offering.  With the positive momentum we continue to see in our towers and fiber segments, we remain dedicated to investing in our business to generate future growth while delivering dividend per share growth of 7% to 8% per year."RESULTS FOR THE QUARTERThe table below sets forth select financial results for the three month period ended September 30, 2018 and 2017.  For further information, refer to the financial statements and non-GAAP, segment and other calculation reconciliations included in this press release.(in millions)ActualMidpoint  Q3 2018 Outlook(b)Actual Compared to OutlookQ3 2018Q3 2017Change% ChangeSite rental revenues$1,184$893+$291+33%$1,177+$7Net income (loss)$164$115+$49+43%$139+$25Adjusted EBITDA(a)$793$605+$188+31%$790+$3AFFO(a)(c)$579$459+$120+26%$573+$6Weighted-average common shares outstanding - diluted416397+19+5%416—Note: Figures may not tie due to rounding.See reconciliation of this non-GAAP financial measure to net income (loss) and definition included herein.As issued on July 18, 2018.Attributable to CCIC common stockholders.HIGHLIGHTS FROM THE QUARTERSite rental revenues.  Site rental revenues grew approximately 33%, or $291 million, from third quarter 2017 to third quarter 2018, inclusive of approximately $52 million in Organic Contribution to Site Rental Revenues plus $219 million in contributions from acquisitions and other items, plus a $20 million increase in straight-lined revenues.  The $52 million in Organic Contribution to Site Rental Revenues represents approximately 5.8% growth, comprised of approximately 8.4% growth from new leasing activity and contracted tenant escalations, net of approximately 2.6% from tenant non-renewals.  When compared to the prior third quarter 2018 Outlook, site rental revenues benefited by approximately $3 million of additional straight-lined revenues primarily resulting from term extensions associated with leasing activity.Net income.  Net income for third quarter 2018 was $164 million, compared to $115 million during the same period a year ago.Adjusted EBITDA.  When compared to the third quarter 2018 Outlook, Adjusted EBITDA benefited by approximately $3 million of additional straight-lined revenues, offset by approximately $2 million of additional straight-lined expenses.AFFO.  When compared to the third quarter 2018 Outlook, AFFO benefited by approximately $3 million related to certain sustaining capital expenditures that did not occur during the third quarter and are now expected to occur during the fourth quarter.Capital expenditures.  Capital expenditures during the quarter were $478 million, comprised of $14 million of land purchases, $27 million of sustaining capital expenditures, $436 million of revenue generating capital expenditures and $1 million of integration capital expenditures.Common stock dividend.  During the quarter, Crown Castle paid common stock dividends of $1.05 per common share, an increase of approximately 11% compared to the same period a year ago.Financing activities.  In July, Crown Castle issued $1.0 billion of Senior Secured Tower Revenue Notes with net proceeds from the offering and cash on hand used to retire $1.0 billion of existing Senior Secured Tower Revenue Notes."The solid third quarter results reflect the strength of our business model and our ability to leverage our leadership position in the U.S. across towers, small cells and fiber solutions to generate growth," stated Dan Schlanger, Crown Castle's Chief Financial Officer.  "As we focus on closing out 2018 and look towards 2019, we are excited about all of the positive trends creating increasing demand for our tower, small cell and fiber assets.  We believe we are in a great position to continue to deliver on our growth targets and invest for the future while returning capital to our shareholders through a high quality and growing dividend.  Since 2014, and inclusive of the dividend increase we are announcing today, we have increased our dividend by a compounded annual growth rate of approximately 8%, and we believe we are well positioned to deliver on our 7% to 8% long-term annual dividend growth target going forward."DIVIDEND INCREASE ANNOUNCEMENTCrown Castle's Board of Directors has declared a quarterly cash dividend of $1.125 per common share, representing an increase of 7% over the previous quarterly dividend of $1.05 per share. The quarterly dividend will be payable on December 31, 2018 to common stockholders of record at the close of business on December 14, 2018. Future dividends are subject to the approval of Crown Castle's Board of Directors.OUTLOOKThis Outlook section contains forward-looking statements, and actual results may differ materially.  Information regarding potential risks which could cause actual results to differ from the forward-looking statements herein is set forth below and in Crown Castle's filings with the Securities and Exchange Commission ("SEC").  Beginning in 2019, the Outlook section of Crown Castle's quarterly earnings releases will include Outlook for full year periods only.The following table sets forth Crown Castle's current Outlook for fourth quarter 2018, full year 2018 and full year 2019:(in millions)Fourth Quarter 2018Full Year 2018Full Year 2019Site rental revenues$1,189to$1,199$4,696to$4,706$4,898to$4,943Site rental cost of operations(a)$343to$353$1,400to$1,410$1,438to$1,483Net income (loss)$201to$226$659to$684$738to$818Adjusted EBITDA(b)$820to$830$3,144to$3,154$3,303to$3,348Interest expense and amortization of deferred financing costs(c)$160to$170$638to$648$691to$736FFO(b)(d)$567to$577$2,055to$2,065$2,252to$2,297AFFO(b)(d)$591to$601$2,273to$2,283$2,413to$2,458Weighted-average common shares outstanding - diluted(e)416415416Exclusive of depreciation, amortization and accretion.See reconciliation of this non-GAAP financial measure to net income (loss) and definition included herein.See reconciliation of "components of current outlook for interest expense and amortization of deferred financing costs" herein for a discussion of non-cash interest expense.Attributable to CCIC common stockholders.The assumption for fourth quarter 2018, full year 2018 and full year 2019 diluted weighted-average common shares outstanding is based on the diluted common shares outstanding as of September 30, 2018.  For all periods presented, the diluted weighted-average common shares outstanding does not include any assumed conversion of preferred stock in the share count.Compared to third quarter 2018, the midpoints of fourth quarter 2018 Outlook for Adjusted EBITDA and AFFO are expected to benefit from a higher network services contribution and lower repair and maintenance expense, offset by higher sustaining capital expenditures and interest expense.Full Year 2018 OutlookThe table below compares the results for full year 2017, midpoint of the current full year 2018 Outlook and the midpoint of the previously provided full year 2018 Outlook for select metrics. Midpoint of FY 2018 Outlook toFY 2017 Actual Comparison  (in millions)CurrentFull Year2018 OutlookFull Year2017 ActualChange% ChangePrevious Full Year 2018 Outlook(d)Current Compared to Previous OutlookSite rental revenues$4,701$3,669+$1,032+28%$4,688+$13Net income (loss)$672$445+$227+51%$633+$39Adjusted EBITDA(a)$3,149$2,482+$667+27%$3,147+$2AFFO(a)(b)$2,278$1,860+$418+22%$2,278—Weighted-average common shares outstanding - diluted(c)415383+32+8%415—See reconciliation of this non-GAAP financial measure to net income (loss) and definition included herein.Attributable to CCIC common stockholders.The assumption for full year 2018 diluted weighted-average common shares outstanding is based on diluted common shares outstanding as of September 30, 2018.  For all periods presented, the diluted weighted-average common shares outstanding does not include any assumed conversion of preferred stock in the share count.As issued on July 18, 2018.The increases in full year 2018 Outlook reflect higher than expected results from the third quarter and an expectation of continued strong leasing activity during the fourth quarter.Additional information is available in Crown Castle's quarterly Supplemental Information Package posted in the Investors section of its website.Full Year 2019 OutlookThe table below compares the midpoint of the full year 2019 Outlook and the midpoint of the currently provided full year 2018 Outlook for select metrics. Midpoint of FY 2019 Outlook toMidpoint of FY 2018 Outlook(in millions)CurrentFull Year2019 OutlookCurrentFull Year2018 OutlookChange% ChangeSite rental revenues$4,921$4,701+$220+5%Net income (loss)$778$672+$106+16%Adjusted EBITDA(a)$3,326$3,149+$177+6%AFFO(a)(b)$2,436$2,278+$158+7%Weighted-average common shares outstanding - diluted(c)416415+1—See reconciliation of this non-GAAP financial measure to net income (loss) and definition included herein.Attributable to CCIC common stockholders.The assumption for full year 2018 and full year 2019 diluted weighted-average common shares outstanding is based on diluted common shares outstanding as of September 30, 2018.  For all periods presented, the diluted weighted-average common shares outstanding does not include any assumed conversion of preferred stock in the share count.The chart below reconciles the components of expected growth in site rental revenues from 2018 to 2019 of $197 million to $242 million, inclusive of expected Organic Contribution to Site Rental Revenues during 2019 of $260 million to $300 million.A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/61274c07-b8c6-44e9-8829-10cce9da253fNew leasing activity is expected to contribute $350 million to $380 million to 2019 Organic Contribution to Site Rental Revenues, consisting of new leasing activity from towers of $120 million to $130 million, small cells of $70 million to $80 million, and fiber solutions of $160 million to $170 million.The chart below reconciles the components of expected growth in AFFO from 2018 to 2019 of $135 million to $180 million.A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5f742149-932c-45b8-ad87-d4a441239b28The expected increase in expenses from 2018 to 2019 of approximately $80 million at the midpoint reflects a combination of the typical cost escalations and the direct expenses associated with accelerating new leasing activity.The expected change in network services contribution in 2019 of approximately $25 million at the midpoint reflects the higher expected new leasing activity from towers in 2019.In addition, the expected growth in AFFO from 2018 to 2019 is impacted by approximately $70 million of higher financing costs, inclusive of approximately $25 million that is related to higher expected average floating interest rates in 2019 when compared to average rates in 2018, as well as approximately $45 million that is related to funding our discretionary capital expenditures.Additional information is available in Crown Castle's quarterly Supplemental Information Package posted in the Investors section of its website.CONFERENCE CALL DETAILSCrown Castle has scheduled a conference call for Thursday, October 18, 2018, at 10:30 a.m. Eastern time to discuss its third quarter 2018 results.  The conference call may be accessed by dialing 855-719-5012 and asking for the Crown Castle call (access code 8650722) at least 30 minutes prior to the start time.  The conference call may also be accessed live over the Internet at http://investor.crowncastle.com.  Supplemental materials for the call have been posted on the Crown Castle website at http://investor.crowncastle.com. A telephonic replay of the conference call will be available from 1:30 p.m. Eastern time on Thursday, October 18, 2018, through 1:30 p.m. Eastern time on Wednesday, January 16, 2019, and may be accessed by dialing 888-203-1112 and using access code 8650722.  An audio archive will also be available on the company's website at http://investor.crowncastle.com shortly after the call and will be accessible for approximately 90 days.ABOUT CROWN CASTLECrown Castle owns, operates and leases more than 40,000 cell towers and approximately 65,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market.  This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.  For more information on Crown Castle, please visit www.crowncastle.com. Non-GAAP Financial Measures, Segment Measures and Other CalculationsThis press release includes presentations of Adjusted EBITDA, Adjusted Funds from Operations ("AFFO"), Funds from Operations ("FFO") and Organic Contribution to Site Rental Revenues, which are non-GAAP financial measures.  These non-GAAP financial measures are not intended as alternative measures of operating results or cash flow from operations (as determined in accordance with Generally Accepted Accounting Principles ("GAAP")).Our measures of Adjusted EBITDA, AFFO, FFO and Organic Contribution to Site Rental Revenues may not be comparable to similarly titled measures of other companies, including other companies in the communications infrastructure sector or other real estate investment trusts ("REITs").  Our definition of FFO is consistent with guidelines from the National Association of Real Estate Investment Trusts with the exception of the impact of income taxes in periods prior to our REIT conversion in 2014.In addition to the non-GAAP financial measures used herein, we also provide Segment Site Rental Gross Margin, Segment Network Services and Other Gross Margin and Segment Operating Profit, which are key measures used by management to evaluate our operating segments for purposes of making decisions about allocating capital and assessing performance.  These segment measures are provided pursuant to GAAP requirements related to segment reporting.  In addition, we provide the components of certain GAAP measures, such as capital expenditures.Adjusted EBITDA, AFFO, FFO and Organic Contribution to Site Rental Revenues are presented as additional information because management believes these measures are useful indicators of the financial performance of our business.  Among other things, management believes that:Adjusted EBITDA is useful to investors or other interested parties in evaluating our financial performance.  Adjusted EBITDA is the primary measure used by management (1) to evaluate the economic productivity of our operations and (2) for purposes of making decisions about allocating resources to, and assessing the performance of, our operations.  Management believes that Adjusted EBITDA helps investors or other interested parties meaningfully evaluate and compare the results of our operations (1) from period to period and (2) to our competitors, by removing the impact of our capital structure (primarily interest charges from our outstanding debt) and asset base (primarily depreciation, amortization and accretion) from our financial results.  Management also believes Adjusted EBITDA is frequently used by investors or other interested parties in the evaluation of the communications infrastructure sector and other REITs to measure financial performance without regard to items such as depreciation, amortization and accretion which can vary depending upon accounting methods and the book value of assets.  In addition, Adjusted EBITDA is similar to the measure of current financial performance generally used in our debt covenant calculations.  Adjusted EBITDA should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance.AFFO is useful to investors or other interested parties in evaluating our financial performance.  Management believes that AFFO helps investors or other interested parties meaningfully evaluate our financial performance as it includes (1) the impact of our capital structure (primarily interest expense on our outstanding debt and dividends on our preferred stock) and (2) sustaining capital expenditures, and excludes the impact of our (a) asset base (primarily depreciation, amortization and accretion) and (b) certain non-cash items, including straight-lined revenues and expenses related to fixed escalations and rent free periods.  GAAP requires rental revenues and expenses related to leases that contain specified rental increases over the life of the lease to be recognized evenly over the life of the lease.  In accordance with GAAP, if payment terms call for fixed escalations, or rent free periods, the revenue or expense is recognized on a straight-lined basis over the fixed, non-cancelable term of the contract.  Management notes that Crown Castle uses AFFO only as a performance measure.  AFFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance and should not be considered as an alternative to cash flows from operations or as residual cash flow available for discretionary investment.FFO is useful to investors or other interested parties in evaluating our financial performance.  Management believes that FFO may be used by investors or other interested parties as a basis to compare our financial performance with that of other REITs.  FFO helps investors or other interested parties meaningfully evaluate financial performance by excluding the impact of our asset base (primarily depreciation, amortization and accretion). FFO is not a key performance indicator used by Crown Castle.  FFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance and should not be considered as an alternative to cash flow from operations.Organic Contribution to Site Rental Revenues is useful to investors or other interested parties in understanding the components of the year-over-year changes in our site rental revenues computed in accordance with GAAP.  Management uses the Organic Contribution to Site Rental Revenues to assess year-over-year growth rates for our rental activities, to evaluate current performance, to capture trends in rental rates, new leasing activities and customer non-renewals in our core business, as well to forecast future results. Organic Contribution to Site Rental Revenues is not meant as an alternative measure of revenue and should be considered only as a supplement in understanding and assessing the performance of our site rental revenues computed in accordance with GAAP.We define our non-GAAP financial measures, segment measures and other calculations as follows:Non-GAAP Financial MeasuresAdjusted EBITDA. We define Adjusted EBITDA as net income (loss) plus restructuring charges (credits), asset write-down charges, acquisition and integration costs, depreciation, amortization and accretion, amortization of prepaid lease purchase price adjustments, interest expense and amortization of deferred financing costs, (gains) losses on retirement of long-term obligations, net (gain) loss on interest rate swaps, (gains) losses on foreign currency swaps, impairment of available-for-sale securities, interest income, other (income) expense, (benefit) provision for income taxes, cumulative effect of a change in accounting principle, (income) loss from discontinued operations and stock-based compensation expense.Adjusted Funds from Operations.  We define Adjusted Funds from Operations as FFO before straight-lined revenue, straight-lined expense, stock-based compensation expense, non-cash portion of tax provision, non-real estate related depreciation, amortization and accretion, amortization of non-cash interest expense, other (income) expense, (gains) losses on retirement of long-term obligations, net (gain) loss on interest rate swaps, (gains) losses on foreign currency swaps, acquisition and integration costs, and adjustments for noncontrolling interests, and less sustaining capital expenditures (comprised of capital improvement capital expenditures and corporate capital expenditures).Funds from Operations. We define Funds from Operations as net income plus real estate related depreciation, amortization and accretion and asset write-down charges, less noncontrolling interest and cash paid for preferred stock dividends, and is a measure of funds from operations attributable to CCIC common stockholders.Organic Contribution to Site Rental Revenues. We define the Organic Contribution to Site Rental Revenues as the sum of the change in GAAP site rental revenues related to (1) new leasing activity, including revenues from the construction of small cells and the impact of prepaid rent, (2) escalators and less (3) non-renewals of customer contracts.Segment MeasuresSegment Site Rental Gross Margin.  We define Segment Site Rental Gross Margin as segment site rental revenues less segment site rental cost of operations, excluding stock-based compensation expense and prepaid lease purchase price adjustments recorded in consolidated site rental cost of operations.Segment Network Services and Other Gross Margin.  We define Segment Network Services and Other Gross Margin as segment network services and other revenues less segment network services and other cost of operations, excluding stock-based compensation expense recorded in consolidated network services and other cost of operations.Segment Operating Profit.  We define Segment Operating Profit as segment site rental gross margin plus segment network services and other gross margin, less selling, general and administrative expenses attributable to the respective segment.All of these measurements of profit or loss are exclusive of depreciation, amortization and accretion, which are shown separately.Other CalculationsDiscretionary capital expenditures.  We define discretionary capital expenditures as those capital expenditures made with respect to activities which we believe exhibit sufficient potential to enhance long-term stockholder value. They consist of expansion or development of existing communications infrastructure, construction of new communications infrastructure, and, to a lesser extent, purchases of land interests (which primarily relate to land assets under towers as we seek to manage our interests in the land beneath our towers) and other capital projects.Sustaining capital expenditures.  We define sustaining capital expenditures as those capital expenditures made with respect to either (1) corporate capital expenditures or (2) capital improvement capital expenditures on our communications infrastructure assets that enable our customers' ongoing quiet enjoyment of the communications infrastructure.Integration capital expenditures.  We define integration capital expenditures as those capital expenditures made specifically with respect to acquisitions that are essential to integrating acquired companies into our business.The tables set forth below reconcile the non-GAAP financial measures used herein to comparable GAAP financial measures.  The components in these tables may not sum to the total due to rounding.  The Company has changed its presentation to millions and, as a result, any necessary rounding adjustments have been made to prior year disclosed amounts.Reconciliations of Non-GAAP Financial Measures, Segment Measures and Other Calculations to Comparable GAAP Financial Measures:Reconciliation of Historical Adjusted EBITDA: For the Three Months Ended For the Twelve Months Ended September 30, 2018 September 30, 2017 December 31, 2017(in millions)     Net income (loss)$164  $115  $445 Adjustments to increase (decrease) net income (loss):     Asset write-down charges8  5  17 Acquisition and integration costs4  13  61 Depreciation, amortization and accretion385  296  1,242 Amortization of prepaid lease purchase price adjustments5  5  20 Interest expense and amortization of deferred financing costs(a)160  154  591 (Gains) losses on retirement of long-term obligations32  â€”  4 Interest income(1) (11) (19)Other (income) expense(1) â€”  (1)(Benefit) provision for income taxes5  3  26 Stock-based compensation expense32  25  96 Adjusted EBITDA(b)(c)$793  $605  $2,482 See the reconciliation of "components of historical interest expense and amortization of deferred financing costs" herein for a discussion of non-cash interest expense.See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" herein for a discussion of our definition of Adjusted EBITDA.The above reconciliation excludes line items included in our definition which are not applicable for the periods shown.Reconciliation of Current Outlook for Adjusted EBITDA: Q4 2018 Full Year 2018 Full Year 2019(in millions)Outlook Outlook OutlookNet income (loss)$201to$226 $659to$684 $738to$818Adjustments to increase (decrease) net income (loss):           Asset write-down charges$9to$11 $27to$29 $35to$45Acquisition and integration costs$8to$12 $26to$30 $15to$25Depreciation, amortization and accretion$381to$401 $1,519to$1,539 $1,609to$1,644Amortization of prepaid lease purchase price adjustments$4to$6 $19to$21 $19to$21Interest expense and amortization of deferred financing costs(a)$160to$170 $638to$648 $691to$736(Gains) losses on retirement of long-term obligations$0to$0 $106to$106 $0to$0Interest income$(2)to$0 $(6)to$(4) $(7)to$(3)Other (income) expense$(1)to$3 $(1)to$3 $(1)to$1(Benefit) provision for income taxes$3to$8 $16to$21 $16to$24Stock-based compensation expense$23to$27 $107to$111 $111to$115Adjusted EBITDA(b)(c)$820to$830 $3,144to$3,154 $3,303to$3,348See the reconciliation of "components of current outlook for interest expense and amortization of deferred financing costs" herein for a discussion of non-cash interest expense.See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" herein for a discussion of our definition of Adjusted EBITDA.The above reconciliation excludes line items included in our definition which are not applicable for the periods shown.Reconciliation of Historical FFO and AFFO: For the Three Months Ended For the Nine Months Ended For the Twelve Months Ended(in millions)September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 December 31, 2017Net income (loss)$164  $115  $458  $346  $445 Real estate related depreciation, amortization and accretion371  288  1,097  857  1,211 Asset write-down charges8  5  18  10  17 Dividends on preferred stock(28) â€”  (85) â€”  (30)FFO(a)(b)(c)(d)(e)$515  $408  $1,487  $1,214  $1,643           FFO (from above)$515  $408  $1,487  $1,214  $1,643 Adjustments to increase (decrease) FFO:         Straight-lined revenue(17) 3  (53) 3  â€” Straight-lined expense23  24  69  70  93 Stock-based compensation expense32  25  84  67  96 Non-cash portion of tax provision2  (1) (1) (3) 9 Non-real estate related depreciation, amortization and accretion14  8  41  23  31 Amortization of non-cash interest expense2  2  5  8  9 Other (income) expense(1) â€”  â€”  (4) (2)(Gains) losses on retirement of long-term obligations32  â€”  106  4  4 Acquisition and integration costs4  13  18  27  61 Capital improvement capital expenditures(15) (11) (47) (27) (41)Corporate capital expenditures(12) (13) (28) (32) (44)AFFO(a)(b)(c)(d)(e)$579  $459  $1,683  $1,349  $1,860 See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" herein for a discussion of our definitions of FFO and AFFO.FFO and AFFO are reduced by cash paid for preferred stock dividends during the period in which they are paid.Diluted weighted-average common shares outstanding were 416 million, 397 million, 414 million, 375 million and 383 million for the three months ended September 30, 2018 and 2017, the nine months ended September 30, 2018 and 2017 and the twelve months ended December 31, 2017, respectively.  For all periods presented, the diluted weighted-average common shares outstanding does not include any assumed conversion of preferred stock in the share count.The above reconciliation excludes line items included in our definition which are not applicable for the periods shown.Attributable to CCIC common stockholders.Reconciliation of Current Outlook for FFO and AFFO: Q4 2018 Full Year 2018 Full Year 2019(in millions)Outlook Outlook OutlookNet income (loss)$201to$226 $659to$684 $738to$818Real estate related depreciation, amortization and accretion$372to$382 $1,469to$1,479 $1,560to$1,580Asset write-down charges$9to$11 $27to$29 $35to$45Dividends on preferred stock$(28)to$(28) $(113)to$(113) $(113)to$(113)FFO(a)(b)(c)(d)(e)$567to$577 $2,055to$2,065 $2,252to$2,297            FFO (from above)$567to$577 $2,055to$2,065 $2,252to$2,297Adjustments to increase (decrease) FFO:           Straight-lined revenue$(15)to$(5) $(67)to$(57) $(9)to$11Straight-lined expense$16to$26 $85to$95 $68to$88Stock-based compensation expense$23to$27 $107to$111 $111to$115Non-cash portion of tax provision$(2)to$3 $(4)to$1 $(7)to$8Non-real estate related depreciation, amortization and accretion$9to$19 $50to$60 $49to$64Amortization of non-cash interest expense$0to$4 $5to$9 $2to$12Other (income) expense$(1)to$3 $(1)to$3 $(1)to$1(Gains) losses on retirement of long-term obligations$0to$0 $106to$106 $0to$0Acquisition and integration costs$8to$12 $26to$30 $15to$25Capital improvement capital expenditures$(20)to$(10) $(66)to$(56) $(85)to$(75)Corporate capital expenditures$(30)to$(20) $(59)to$(49) $(40)to$(30)AFFO(a)(b)(c)(d)(e)$591to$601 $2,273to$2,283 $2,413to$2,458The assumption for fourth quarter 2018, full year 2018 and full year 2019 diluted weighted-average common shares outstanding is 416 million, 415 million and 416 million, respectively, based on diluted common shares outstanding as of September 30, 2018.  For all periods presented, the diluted weighted-average common shares outstanding does not include any assumed conversion of preferred stock in the share count.See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" herein for a discussion for our definitions of FFO and AFFO.FFO and AFFO are reduced by cash paid for preferred stock dividends during the period in which they are paid. The above reconciliation excludes line items included in our definition which are not applicable for the periods shown.Attributable to CCIC common stockholders.For Comparative Purposes - Reconciliation of Previous Outlook for Adjusted EBITDA: Previously Issued Previously Issued Q3 2018 Full Year 2018(in millions)Outlook OutlookNet income (loss)$126to$151 $603to$663Adjustments to increase (decrease) net income (loss):       Asset write-down charges$9to$11 $25to$35Acquisition and integration costs$16to$20 $45to$55Depreciation, amortization and accretion$378to$398 $1,513to$1,548Amortization of prepaid lease purchase price adjustments$4to$6 $19to$21Interest expense and amortization of deferred financing costs$156to$166 $627to$657(Gains) losses on retirement of long-term obligations$33to$33 $107to$107Interest income$(1)to$1 $(4)to$0Other (income) expense$(1)to$3 $2to$4(Benefit) provision for income taxes$7to$11 $24to$32Stock-based compensation expense$25to$29 $101to$109Adjusted EBITDA(a)(b)$785to$795 $3,132to$3,162See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" herein for a discussion of our definition of Adjusted EBITDA.The above reconciliation excludes line items included in our definition which are not applicable for the periods shown.For Comparative Purposes - Reconciliation of Previous Outlook for FFO and AFFO: Previously Issued Previously Issued Q3 2018 Full Year 2018(in millions)Outlook OutlookNet income (loss)$126to$151 $603to$663Real estate related depreciation, amortization and accretion$370to$380 $1,469to$1,489Asset write-down charges$9to$11 $25to$35Dividends on preferred stock$(28)to$(28) $(113)to$(113)FFO(a)(b)(c)(d)$490to$500 $2,014to$2,044        FFO (from above)$490to$500 $2,014to$2,044Adjustments to increase (decrease) FFO:       Straight-lined revenue$(18)to$(8) $(65)to$(45)Straight-lined expense$16to$26 $79to$99Stock-based compensation expense$25to$29 $101to$109Non-cash portion of tax provision$1to$11 $0to$15Non-real estate related depreciation, amortization and accretion$8to$18 $44to$59Amortization of non-cash interest expense$(1)to$4 $2to$12Other (income) expense$(1)to$3 $2to$4(Gains) losses on retirement of long-term obligations$33to$33 $107to$107Acquisition and integration costs$16to$20 $45to$55Capital improvement capital expenditures$(14)to$(4) $(71)to$(56)Corporate capital expenditures$(26)to$(16) $(59)to$(44)AFFO(a)(b)(c)(d)$568to$578 $2,263to$2,293Previously issued third quarter 2018 and full year 2018 Outlook assumes diluted weighted-average common shares outstanding as of June 30, 2018 of 416 million and 415 million, respectively.  For all periods presented, the diluted weighted-average common shares outstanding does not include any assumed conversion of preferred stock in the share count.See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" herein for a discussion for our definitions of FFO and AFFO.The above reconciliation excludes line items included in our definition which are not applicable for the periods shown.Attributable to CCIC common stockholders.The components of changes in site rental revenues for the quarters ended September 30, 2018 and 2017 are as follows: Three Months Ended September 30,(in millions)2018 2017Components of changes in site rental revenues(a):   Prior year site rental revenues exclusive of straight-lined revenues associated with fixed escalators(b)(c)$896  $803     New leasing activity(b)(c)54  40 Escalators21  21 Non-renewals(23) (20)Organic Contribution to Site Rental Revenues(d)52  41 Straight-lined revenues associated with fixed escalators17  (3)Acquisitions(e)219  52 Other—  â€” Total GAAP site rental revenues$1,184  $893     Year-over-year changes in revenue:   Reported GAAP site rental revenues32.6%  Organic Contribution to Site Rental Revenues(d)(f)5.8%  Additional information regarding Crown Castle's site rental revenues, including projected revenue from customer licenses, tenant non-renewals, straight-lined revenues and prepaid rent is available in Crown Castle's quarterly Supplemental Information Package posted in the Investors section of its website.Includes revenues from amortization of prepaid rent in accordance with GAAP.Includes revenues from the construction of new small cell nodes, exclusive of straight-lined revenues related to fixed escalators.See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" herein.Represents the initial contribution of recent acquisitions.  The financial impact of recent acquisitions is excluded from Organic Contribution to Site Rental Revenues until the one-year anniversary of the acquisition.Calculated as the percentage change from prior year site rental revenues, exclusive of straight-lined revenues associated with fixed escalations, compared to Organic Contribution to Site Rental Revenues for the current period.The components of the changes in site rental revenues for the years ending December 31, 2018 and December 31, 2019 are forecasted as follows:(dollars in millions)Full Year 2018 Outlook Full Year 2019 OutlookComponents of changes in site rental revenues(a):   Prior year site rental revenues exclusive of straight-lined revenues associated with fixed escalators(b)(c)$3,670  $4,639     New leasing activity(b)(c)200-210 350-380Escalators80-90 85-95Non-renewals(90)-(80) (185)-(165)Organic Contribution to Site Rental Revenues(d)200-210 260-300Straight-lined revenues associated with fixed escalators60-70 (9)-11Acquisitions(e)755-765 â€”Other— â€”Total GAAP site rental revenues$4,696-$4,706 $4,898-$4,943    Year-over-year changes in revenue:   Reported GAAP site rental revenues(f)28.1% 4.7%Organic Contribution to Site Rental Revenues(d)(f)(g)5.6% 6.0%Additional information regarding Crown Castle's site rental revenues, including projected revenue from customer licenses, tenant non-renewals, straight-lined revenues and prepaid rent is available in Crown Castle's quarterly Supplemental Information Package posted in the Investors section of its website.Includes revenues from amortization of prepaid rent in accordance with GAAP.Includes revenues from the construction of new small cell nodes, exclusive of straight-lined revenues related to fixed escalators.See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" herein.Represents the contribution from recent acquisitions.  The financial impact of recent acquisitions is excluded from Organic Contribution to Site Rental Revenues until the one-year anniversary of the acquisition, with the exception of the impact of Lightower, which has been reflected as a contribution from acquisitions for the full year 2018 Outlook. Calculated based on midpoint of full year 2018 Outlook and full year 2019 Outlook.Calculated as the percentage change from prior year site rental revenues, exclusive of straight-lined revenues associated with fixed escalations, compared to Organic Contribution to Site Rental Revenues for the current period.Components of Historical Interest Expense and Amortization of Deferred Financing Costs: For the Three Months Ended(in millions)September 30, 2018 September 30, 2017Interest expense on debt obligations$158  $152 Amortization of deferred financing costs and adjustments on long-term debt, net5  5 Other, net(3) (3)Interest expense and amortization of deferred financing costs$160  $154 Components of Current Outlook for Interest Expense and Amortization of Deferred Financing Costs: Q4 2018 Full Year 2018 Full Year 2019(in millions)Outlook Outlook OutlookInterest expense on debt obligations$161to$166 $634to$639 $696to$716Amortization of deferred financing costs and adjustments on long-term debt, net$4to$6 $20to$22 $18to$23Other, net$(4)to$(2) $(15)to$(13) $(16)to$(11)Interest expense and amortization of deferred financing costs$160to$170 $638to$648 $691to$736Debt balances and maturity dates as of September 30, 2018 are as follows:(in millions)Face Value Final MaturityBank debt - variable rate:   2016 Revolver$805  June 20232016 Term Loan A2,371 June 2023Total bank debt3,176  Securitized debt - fixed rate:   Secured Notes, Series 2009-1, Class A-1(a)18 Aug. 2019Secured Notes, Series 2009-1, Class A-2(a)70 Aug. 2029Tower Revenue Notes, Series 2015-1(b)300 May 2042Tower Revenue Notes, Series 2015-2(b)700 May 2045Tower Revenue Notes, Series 2018-1(b)250 July 2043Tower Revenue Notes, Series 2018-2(b)750 July 2048Total securitized debt2,088  Bonds - fixed rate:   5.250% Senior Notes1,650 Jan. 20233.849% Secured Notes1,000 Apr. 20234.875% Senior Notes850 Apr. 20223.400% Senior Notes850 Feb. 20214.450% Senior Notes900 Feb. 20263.700% Senior Notes750 June 20262.250% Senior Notes700 Sept. 20214.000% Senior Notes500 Mar. 20274.750% Senior Notes350 May 20473.200% Senior Notes750 Sept. 20243.650% Senior Notes1,000 Sept. 20273.150% Senior Notes750 July 20233.800% Senior Notes1,000 Feb. 2028Total bonds11,050  Capital leases and other obligations224  VariousTotal Debt$16,538   Less: Cash and Cash Equivalents(c)$323   Net Debt$16,215   The Senior Secured Notes, Series 2009-1, Class A-1 principal amortizes during the period beginning in January 2010 and ending in 2019 and the Senior Secured Notes, 2009-1, Class A-2 principal amortizes during the period beginning in 2019 and ending in 2029.The Senior Secured Tower Revenue Notes, Series 2015-1 and 2015-2 have anticipated repayment dates in 2022 and 2025, respectively.  The Senior Secured Tower Revenue Notes, Series 2018-1 and Series 2018-2 have anticipated repayment dates in 2023 and 2028, respectively.Excludes restricted cash.Net Debt to Last Quarter Annualized Adjusted EBITDA is computed as follows:(dollars in millions)For the Three Months Ended September 30, 2018Total face value of debt$16,538 Ending cash and cash equivalents(a)323 Total Net Debt$16,215   Adjusted EBITDA for the three months ended September 30, 2018$793 Last quarter annualized Adjusted EBITDA3,172 Net Debt to Last Quarter Annualized Adjusted EBITDA5.1xExcludes restricted cash.Components of Capital Expenditures: For the Three Months Ended(in millions)September 30, 2018 September 30, 2017 TowersFiberOtherTotal TowersFiberOtherTotalDiscretionary:         Purchases of land interests$14 $— $— $14  $24 $— $— $24 Communications infrastructure construction and improvements100 336 â€” 436  73 168 â€” 240 Sustaining:         Capital improvement and corporate9 12 5 27  12 4 8 24 Integration— â€” 1 1  â€” â€” â€” â€” Total$123 $348 $7 $478  $109 $172 $8 $288 Note: See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" herein for further discussion of our components of capital expenditures.Cautionary Language Regarding Forward-Looking StatementsThis press release contains forward-looking statements and information that are based on our management's current expectations.  Such statements include our Outlook and plans, projections, and estimates regarding (1) potential benefits, returns, opportunities and customer and shareholder value which may be derived from our business, assets, investments, acquisitions and dividends, including on a long-and short-term basis, (2) our strategy, strategic position, business model and capabilities and the strength of our business, (3) our growth, including growth in our cash flows and dividends per share, long-term prospects and the trends impacting our business, (4) the potential benefits and contributions which may be derived from our recent acquisitions, including the contribution to or impact on our financial or operating results, (5) leasing environment and activity, including the contribution to our financial or operating results therefrom, (6) our investments in our business and communications infrastructure assets and the potential growth, returns and benefits therefrom, (7) our dividends and our dividend growth rate, including its driving factors, and targets, (8) our portfolio of assets, including demand therefor, strategic position thereof and opportunities created thereby, (9) financing costs and the impact of the anticipated increase in average floating interest rates thereon, (10) cash flows, (11) tenant non-renewals, including the impact thereof, (12) capital expenditures, including sustaining and discretionary capital expenditures, (13) straight-line adjustments, (14) site rental revenues and estimated growth thereof, (15) site rental cost of operations, (16) net income (loss), (17) Adjusted EBITDA, including the impact thereon of timing items, (18) expenses, including repair and maintenance expense and interest expense and amortization of deferred financing costs, (19) FFO, (20) AFFO and estimated growth thereof, (21) Organic Contribution to Site Rental Revenues, (22) our weighted-average common shares outstanding, including on a diluted basis, (23) network services contribution and (24) the utility of certain financial measures, including non-GAAP financial measures.  Such forward-looking statements are subject to certain risks, uncertainties and assumptions prevailing market conditions and the following:Our business depends on the demand for our communications infrastructure, driven primarily by demand for data, and we may be adversely affected by any slowdown in such demand.  Additionally, a reduction in the amount or change in the mix of network investment by our customers may materially and adversely affect our business (including reducing demand for tenant additions and network services).A substantial portion of our revenues is derived from a small number of customers, and the loss, consolidation or financial instability of any of such customers may materially decrease revenues or reduce demand for our communications infrastructure and network services.The expansion or development of our business, including through acquisitions, increased product offerings or other strategic growth opportunities may cause disruptions in our business, which may have an adverse effect on our business, operations or financial results.  Additionally, we may fail to realize all of the anticipated benefits of the Lightower acquisition, or those benefits may take longer to realize than expected.Our fiber segment has expanded rapidly, and the fiber business model contains certain differences from our towers business model, resulting in different operational risks.  If we do not successfully operate our Fiber business model or identify or manage the related operational risks, such operations may produce results that are less than anticipated.Failure to timely and efficiently execute on our construction projects could adversely affect our business.Our substantial level of indebtedness could adversely affect our ability to react to changes in our business, and the terms of our debt instruments and our 6.875% Mandatory Convertible Preferred Stock limit our ability to take a number of actions that our management might otherwise believe to be in our best interests.  In addition, if we fail to comply with our covenants, our debt could be accelerated. We have a substantial amount of indebtedness.  In the event we do not repay or refinance such indebtedness, we could face substantial liquidity issues and might be required to issue equity securities or securities convertible into equity securities, or sell some of our assets to meet our debt payment obligations.Sales or issuances of a substantial number of shares of our common stock or securities convertible into shares of our common stock may adversely affect the market price of our common stock.As a result of competition in our industry, we may find it more difficult to negotiate favorable rates on our new or renewing tenant contracts.New technologies may reduce demand for our communications infrastructure or negatively impact our revenues.If we fail to retain rights to our communications infrastructure, including the land interests under our towers and the right-of-way and other agreements related to our small cells and fiber solutions, our business may be adversely affected.Our network services business has historically experienced significant volatility in demand, which reduces the predictability of our results.New wireless technologies may not deploy or be adopted by customers as rapidly or in the manner projected.If we fail to comply with laws or regulations which regulate our business and which may change at any time, we may be fined or even lose our right to conduct some of our business.If radio frequency emissions from wireless handsets or equipment on our communications infrastructure are demonstrated to cause negative health effects, potential future claims could adversely affect our operations, costs or revenues.Certain provisions of our restated certificate of incorporation, amended and restated by-laws and operative agreements, and domestic and international competition laws may make it more difficult for a third party to acquire control of us or for us to acquire control of a third party, even if such a change in control would be beneficial to our stockholders.We may be vulnerable to security breaches that could adversely affect our business, operations, and reputation.Future dividend payments to our stockholders will reduce the availability of our cash on hand available to fund future discretionary investments, and may result in a need to incur indebtedness or issue equity securities to fund growth opportunities.  In such event, the then current economic, credit market or equity market conditions will impact the availability or cost of such financing, which may hinder our ability to grow our per share results of operations.Remaining qualified to be taxed as a REIT involves highly technical and complex provisions of the U.S. Internal Revenue Code.  Failure to remain qualified as a REIT would result in our inability to deduct dividends to stockholders when computing our taxable income, which would reduce our available cash.If we fail to pay scheduled dividends on our 6.875% Mandatory Convertible Preferred Stock, in cash, common stock, or any combination of cash and common stock, we will be prohibited from paying dividends on our common stock, which may jeopardize our status as a REIT.Complying with REIT requirements, including the 90% distribution requirement, may limit our flexibility or cause us to forgo otherwise attractive opportunities, including certain discretionary investments and potential financing alternatives.REIT related ownership limitations and transfer restrictions may prevent or restrict certain transfers of our capital stock.Should one or more of these or other risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors which could affect our results is included in our filings with the SEC.  As used in this release, the term "including," and any variation thereof, means "including without limitation." CROWN CASTLE INTERNATIONAL CORP.CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED)(Amounts in millions, except par values)   September 30,  2018 December 31,  2017    ASSETS   Current assets:   Cash and cash equivalents$323  $314 Restricted cash125  121 Receivables, net471  398 Prepaid expenses182  162 Other current assets148  139 Total current assets1,249  1,134 Deferred site rental receivables1,357  1,300 Property and equipment, net13,433  12,933 Goodwill10,074  10,021 Other intangible assets, net5,620  5,962 Long-term prepaid rent and other assets, net911  879 Total assets$32,644  $32,229     LIABILITIES AND EQUITY   Current liabilities:   Accounts payable$302  $249 Accrued interest101  132 Deferred revenues484  457 Other accrued liabilities306  339 Current maturities of debt and other obligations111  115 Total current liabilities1,304  1,292 Debt and other long-term obligations16,313  16,044 Other long-term liabilities2,732  2,554 Total liabilities20,349  19,890 Commitments and contingencies   CCIC stockholders' equity:   Common stock, $0.01 par value; 600 shares authorized; shares issued and outstanding: September 30, 2018—415 and December 31, 2017—4064  4 6.875% Mandatory Convertible Preferred Stock, Series A, $0.01 par value; 20 shares authorized; shares issued and outstanding: September 30, 2018—2 and December 31, 2017—2; aggregate liquidation value: September 30, 2018—$1,650 and December 31, 2017—$1,650—  â€” Additional paid-in capital17,743  16,844 Accumulated other comprehensive income (loss)(5) (4)Dividends/distributions in excess of earnings(5,447) (4,505)Total equity12,295  12,339 Total liabilities and equity$32,644  $32,229 CROWN CASTLE INTERNATIONAL CORP.CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)(Amounts in millions, except per share amounts)   Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017Net revenues:       Site rental$1,184  $893  $3,507  $2,619 Network services and other191  170  497  499      Net revenues1,375  1,063  4,004  3,118 Operating expenses:       Costs of operations (exclusive of depreciation, amortization and accretion):       Site rental355  281  1,057  815 Network services and other119  107  304  310 Selling, general and administrative145  100  418  300 Asset write-down charges8  5  18  10 Acquisition and integration costs4  13  18  27 Depreciation, amortization and accretion385  296  1,138  880      Total operating expenses1,016  802  2,953  2,342 Operating income (loss)359  261  1,051  776 Interest expense and amortization of deferred financing costs(160) (154) (478) (430)Gains (losses) on retirement of long-term obligations(32) â€”  (106) (4)Interest income1  11  4  13 Other income (expense)1  â€”  â€”  3 Income (loss) from continuing operations before income taxes169  118  471  358 Benefit (provision) for income taxes(5) (3) (13) (12)Net income (loss)164  115  458  346 Dividends on preferred stock(28) (30) (85) (30)Net income (loss) attributable to CCIC common stockholders$136  $85  $373  $316         Net income (loss) attributable to CCIC common stockholders, per common share:       Net income (loss) attributable to CCIC common stockholders, basic$0.33  $0.22  $0.90  $0.85 Net income (loss) attributable to CCIC common stockholders, diluted$0.33  $0.21  $0.90  $0.84         Weighted-average common shares outstanding:       Basic415  395  413  374 Diluted416  397  414  375 CROWN CASTLE INTERNATIONAL CORP.CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)(a)(In millions of dollars)  Nine Months Ended September 30, 2018 2017Cash flows from operating activities:   Net income (loss)$458  $346 Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:   Depreciation, amortization and accretion1,138  880 (Gains) losses on retirement of long-term obligations106  4 Amortization of deferred financing costs and other non-cash interest5  8 Stock-based compensation expense79  67 Asset write-down charges18  10 Deferred income tax (benefit) provision2  â€” Other non-cash adjustments, net2  (3)Changes in assets and liabilities, excluding the effects of acquisitions:   Increase (decrease) in liabilities144  62 Decrease (increase) in assets(177) 39      Net cash provided by (used for) operating activities1,775  1,413 Cash flows from investing activities:   Payments for acquisitions, net of cash acquired(26) (2,113)Capital expenditures(1,241) (852)Other investing activities, net(14) (6)     Net cash provided by (used for) investing activities(1,281) (2,971)Cash flows from financing activities:   Proceeds from issuance of long-term debt2,743  3,092 Principal payments on debt and other long-term obligations(76) (90)Purchases and redemptions of long-term debt(2,346) â€” Borrowings under revolving credit facility1,290  1,755 Payments under revolving credit facility(1,465) (1,755)Payments for financing costs(33) (27)Net proceeds from issuance of common stock841  4,221 Net proceeds from issuance of preferred stock—  1,608 Purchases of common stock(34) (23)Dividends/distributions paid on common stock(1,315) (1,082)Dividends paid on preferred stock(85) â€”      Net cash provided by (used for) financing activities(480) 7,699 Net increase (decrease) in cash, cash equivalents, and restricted cash14  6,141 Effect of exchange rate changes(1) 1 Cash, cash equivalents, and restricted cash at beginning of period(a)440  697 Cash, cash equivalents, and restricted cash at end of period(a)$453  $6,839 Supplemental disclosure of cash flow information:   Interest paid503  420 Income taxes paid15  14 Effective January 1, 2018, the Company is required to explain the change in restricted cash in addition to the change in cash and cash equivalents in its condensed consolidated statement of cash flows.  The Company has applied this approach for all periods presented.CROWN CASTLE INTERNATIONAL CORP.SEGMENT OPERATING RESULTS (UNAUDITED)(In millions of dollars) SEGMENT OPERATING RESULTS Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 Towers Fiber Other Consolidated Total Towers Fiber Other Consolidated TotalSegment site rental revenues$782  $402    $1,184  $725  $168    $893 Segment network services and other revenue189  2    191  153  17    170 Segment revenues971  404    1,375  878  185    1,063 Segment site rental cost of operations215  131    346  212  60    272 Segment network services and other cost of operations115  1    116  91  14    105 Segment cost of operations(a)(b)330  132    462  303  74    377 Segment site rental gross margin(c)567  271    838  513  108    621 Segment network services and other gross margin(c)74  1    75  62  3    65 Segment selling, general and administrative expenses(b)28  45    73  22  18    40 Segment operating profit(c)613  227    840  553  93    646 Other selling, general and administrative expenses(b)    $47  47      $41  41 Stock-based compensation expense    32  32      25  25 Depreciation, amortization and accretion    385  385      296  296 Interest expense and amortization of deferred financing costs    160  160      154  154 Other income (expenses) to reconcile to income (loss) from continuing operations before income taxes(d)    47  47      12  12 Income (loss) from continuing operations before income taxes      $169        $118 Exclusive of depreciation, amortization and accretion shown separately.Segment cost of operations excludes (1) stock-based compensation expense of $7 million and $6 million for the three months ended September 30, 2018 and 2017, respectively, and (2) prepaid lease purchase price adjustments of $5 million for both of the three months ended September 30, 2018 and 2017.  Selling, general and administrative expenses exclude stock-based compensation expense of $25 million and $19 million for the three months ended September 30, 2018 and 2017, respectively. See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" herein for a discussion of our definitions of segment site rental gross margin, segment network services and other gross margin and segment operating profit.See condensed consolidated statement of operations for further information.SEGMENT OPERATING RESULTS Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 Towers Fiber Other Consolidated Total Towers Fiber Other Consolidated TotalSegment site rental revenues$2,318  $1,189    $3,507  $2,159  $460    $2,619 Segment network services and other revenue489  8    497  461  38    499 Segment revenues2,807  1,197    4,004  2,620  498    3,118 Segment site rental cost of operations641  388    1,029  632  158    790 Segment network services and other cost of operations292  6    298  277  31    308 Segment cost of operations(a)(b)933  394    1,327  909  189    1,098 Segment site rental gross margin(c)1,677  801    2,478  1,527  302    1,829 Segment network services and other gross margin(c)197  2    199  184  7    191 Segment selling, general and administrative expenses(b)81  131    212  69  55    124 Segment operating profit(c)1,793  672    2,465  1,642  254    1,896 Other selling, general and administrative expenses(b)    $141  141      $121  121 Stock-based compensation expense    84  84      67  67 Depreciation, amortization and accretion    1,138  1,138      880  880 Interest expense and amortization of deferred financing costs    478  478      430  430 Other income (expenses) to reconcile to income (loss) from continuing operations before income taxes(d)    153  153      40  40 Income (loss) from continuing operations before income taxes      $471        $358 Exclusive of depreciation, amortization and accretion shown separately.Segment cost of operations excludes (1) stock-based compensation expense of $19 million and $12 million for the nine months ended September 30, 2018 and 2017, respectively, and (2) prepaid lease purchase price adjustments of $15 million for both of the nine months ended September 30, 2018 and 2017.  Selling, general and administrative expenses exclude stock-based compensation expense of $65 million and $55 million for the nine months ended September 30, 2018 and 2017, respectively. See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" herein for a discussion of our definitions of segment site rental gross margin, segment network services and other gross margin and segment operating profit.See condensed consolidated statement of operations for further information.Contacts: Dan Schlanger, CFO and TreasurerBen Lowe, VP Corporate FinanceCrown Castle International Corp.713-570-3050