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The company noted that once it finalizes its financial statements with respect to the Special Committee's findings, it would release full financial results for the third quarter, together with its full financial results and financial reports for prior periods. In addition, the company provided segmental revenue outlook for fiscal year 2006 and 2007. The Boston, Massachusetts-based company's total revenues in the third quarter increased 26% from last year to $333.

5 million. On average, 10 analysts polled by First Call/Thomson Financial expected third quarter revenues of $329.47 million.

Consolidated rental and management segment revenues jumped 25% to $326.40 million from $260.79 million last year.

Among this, American tower generated revenues of $213.19 million, up from $193.44 million in the previous year, while SpectraSite's revenues increased to $113.

21 million from prior year's $67.36 million. Rental and Management Segment gross margin was $245.

39 million, up 26% from $194.62 million in the year-ago quarter. Network development Services division's revenues in the period increased to $7.

06 million from $3.96 million a year ago, while gross margin was $4.10 million, compared to $1.

59 million last year. Commenting on the results, Jim Taiclet, Chief Executive Officer, said, "We continue to experience the benefits of a healthy and growing wireless environment. On a pro-forma basis, adjusted for the impact of our merger with SpectraSite, our tower revenue growth of 11% and tower gross margin growth of 14% over the prior year demonstrate the continued emphasis on network development across our customer base, American Tower's efforts to improve our relationships with these customers, the high quality of our 22,000 site portfolio, and our advancements in reducing process cycle times to get our customers on-air faster.

" Looking ahead, American Tower expects fiscal year 2006 rental and management segment revenue in the range of $1.291 billion - $1.294 billion.

Services segment revenue is anticipated to be $21 million-$22 million in the full year. Rental and management segment gross margin is expected to be $973 million - $976 million. Further, for fiscal year 2007, the company sees rental and management segment revenue of $1.

392 billion-$1.415 billion, while gross margin is expected to be in the range of $1.059 billion - $1.

087 billion. Jim Taiclet stated, "Looking forward to 2007, we also see a healthy environment for tower leasing. In addition, we are continuing to actively explore opportunities to meaningfully expand our tower portfolio both in the US and in select international markets.

" American Tower's Board of Directors has established a Special Committee of independent directors earlier to review the stock option granting practices and related accounting. The company previously indicated that it would need to restate its historical financial statements to record charges for stock-based compensation expense related to certain option grants and to account for the tax-related consequences. Recently, on November 6, the Special Committee reported its finding to Board of Directors.

Earlier, the company said that it would file an amended Annual Report on Form 10-K/A for fiscal year 2005 and an amended Quarterly Report on Form 10-Q/A for the first quarter 2006 to reflect the restatement of its financial statements, and that it would file these reports with the SEC following the committee's investigation closure. With the investigation findings, the company now expects to complete the filing procedure. American Tower also expects to file Quarterly Reports on Form 10-Q for the second and third quarters of 2006, however, does not currently anticipate to file those before November 9, 2006, the date the Form 10-Q for the third quarter.

However, the company anticipates that it will file all of these reports by the end of November 2006. In connection with stock option review, American Tower has temporarily suspended its stock repurchase program, and now expects to resume repurchases of its Class A common stock, once the review is completed. AMT closed Tuesday's regular trading session at $37.

62, up $0.23, on a volume of 2.01 million shares.