Houston-based cell tower company Crown Castle has received a subpoena from the U.S. Securities and Exchange Commission requesting certain documents from 2015 through the present, primarily related to accounting policies for its services business that includes permitting and construction management provided to cellular network operators leasing Crown Castle towers.
The company announced this alongside its third quarter earnings, reporting net income of $272 million, up 66 percent from $164 million reported for the same three-month period last year.
More on Crown Castle: 5G is how CEO of wireless infrastructure company spells opportunity
According to a transcript of the company’s conference call held with investors, Crown Castle Chief Financial Officer Daniel K. Schlanger said the company is cooperating with the SEC.
“The subpoena requires us to produce certain documents,” he said, “but is not a finding that any violation of law has occurred.”
Crown Castle owns, operates and leases more than 40,000 cell towers and more than 75,000 route miles of fiber-optic cable supporting small cells and fiber solutions across every major U.S. market.
For more business news in Texas, please visit HoustonChronicle.com/business.