Cellular tower operator SpectraSite, which emerged from bankruptcy earlier this year, increased revenues for the first quarter 16 percent, to $81.4 million, compared to 2002 figures.

Site leasing revenues hit $76.6 million, an increase of $10.6 million, but broadcast revenues dropped to $4.8 million from $6.4 million.

The company reported operating income of $5.3 million, compared to an $18.6 million loss a year ago.

Overall net income was $343.3 million but the company said that total was “primarily affected by a gain on the early extinguishment of debt” as part of the bankruptcy settlement.

SpectraSite: www.spectrasite.com