01.08.2013 02:12:00

/C O R R E C T I O N -- General Communication, Inc./

In the news release, GCI Reports Second Quarter 2013 Financial Results, issued 31-Jul-2013 by General Communication, Inc. over PR Newswire, we are advised by the company that an additional table titled "Non-GAAP Financial Reconciliation Schedule" has been added to the end of the release. The complete, corrected release follows:

GCI Reports Second Quarter 2013 Financial Results-- Consolidated revenue of $189.7 million-- Adjusted EBITDA of $62.1 million-- Net income of $4.2 million or $0.10 per diluted share

ANCHORAGE, Alaska, July 31, 2013 /PRNewswire/ -- General Communication, Inc. ("GCI") (NASDAQ: GNCMA) today reported its second quarter 2013 results with consolidated revenues of $189.7 million, adjusted EBITDA of $62.1 million, and net income of $4.2 million or $0.10 per diluted share.

For the second quarter of 2013, revenue increased $13.6 million or 8 percent over the second quarter of 2012 revenue of $176.1 million. Adjusted EBITDA increased $2.7 million or 5 percent over the second quarter of 2012 EBITDA of $59.4 million. Net income increased 5 percent compared to second quarter of 2012 net income of $4.0 million.

For the first six months of 2013, revenue increased $27.9 million or 8 percent over the first six months of 2012 revenue of $348.0 million. Adjusted EBITDA increased $6.5 million or 6 percent over the first six months of 2012 EBITDA of $114.3 million. Net income increased $2.0 million or 37 percent over the first six months of 2012 net income of $5.4 million.

"GCI has continued to provide growth and improvement in the second quarter," said Ron Duncan, GCI president and chief executive officer. "We continue to perform well with respect to both the operational metrics and financial performance."   

On July 22, 2013, the Company closed The Alaska Wireless Network (AWN) transaction, which had been previously announced.

"Having now resolved the many steps in the regulatory process, we are now fully engaged in the implementation process for AWN," continued Mr. Duncan. "We expect that our AWN network will provide the fastest, most geographically extensive, and the most reasonably priced wireless services for Alaska subscribers."

Operating Highlights

Wireless:

Wireless revenues of $35.6 million for the second quarter of 2013 increased $5.2 million or 17% when compared to the second quarter of 2012. Wireless Adjusted EBITDA of $14.3 million increased $1.7 million or 13 percent compared to the second quarter of 2012. This segment represents the wholesale provision of wireless service, as well as roaming revenues. 

GCI served 142,900 wireless subscribers at the end of the second quarter 2013, representing a total subscriber growth of 1 percent over the second quarter of 2012.  The results for the quarter, compared to last year, reflect a 7,300 reduction in Lifeline customers, due to FCC changes in the program. This reduction, however, was offset by a 9,200 or 9 percent increase in non-Lifeline customers, and an overall 6 percent increase to average monthly revenue per wireless subscriber.

Wireline – Consumer:

Consumer revenues of $68.5 million for the second quarter of 2013 increased 1 percent over the same period of 2012. Adjusted EBITDA of $18.9 million for the second quarter of 2013 increased $0.7 million or 4 percent compared to the second quarter of 2012. Increases in data and wireless revenues offset the decreases in voice and video revenues.

During the quarter, the Company announced several improvements, enhancements and new programs:

  • GCI TV Powered by TIVO: GCI provides the only TV service in Alaska that offers a digital video recorder (DVR) through which consumers can record up to six channels simultaneously, in areas where GCI offers TIVO service.
  • GCI GO: GCI was the first Alaska based TV service provider to offer HBO GO and MAX GO, an offering that may expand by year end to as many as 25 networks.
  • Tier 1 Internet expansion: GCI upgraded two additional communities to Tier 1 service, enabling up to 22 mbps internet service.
  • HD Expansion: GCI added two more networks to the HD platform, Lifetime HD and Lifetime Movie Network HD.

Wireline - Business Services:                                                                                

Business Services revenues of $56.9 million for the second quarter of 2013 increased 12 percent over the same period in 2012. Adjusted EBITDA of $18.2 million represented a 9 percent improvement over the same period in 2012. The revenue improvements were driven by growth in wireline, while wireless showed a slight decline.

During the quarter, revenues benefited from the strength of oil and gas sector exploration, development efforts in Cook Inlet and the Chukchi Sea, as well as continuing contracts with wholesale customers.

Wireline - Managed Broadband:           

Managed Broadband revenues for the second quarter of 2013 totaled $28.8 million, an increase of 6 percent over the second quarter of 2012. Adjusted EBITDA of $10.8 million represented a 9 percent decline over the same period in 2012. The year-over-year growth of revenue is due to continuing investment in terrestrial broadband facilities in rural Alaska and success in acquiring additional telemedicine and distance learning customers. These revenue gains have not yet translated into EBITDA gains, due to the continued high cost of developing new services and providing existing services in this area.

During the quarter, the Company announced that GCI will complete the extension of its terrestrial broadband network, TERRA, to Nome by the end of this year and to Kotzebue by the end of 2014.

Corporate Highlights

  • On April 30, 2013, GCI Holdings, Inc., a wholly owned subsidiary of GCI, closed on a $390 million senior secured credit facility, which was an amendment to its previous facility. The facility provides up to $240.0 million of delayed draw term loans and a $150.0 million revolving credit facility. To complete the AWN transaction mentioned above, subsequent to the quarter close, the Company drew $100 million from the term loan capacity. The facility will mature on April 30, 2018.
  • GCI repurchased nearly 740,000 shares of its Class A common stock in the second quarter of 2013 at an average price per share of $8.59. GCI is authorized to repurchase $98.4 million of its shares depending on company performance, market conditions, liquidity, leverage and subject to board oversight. At the end of the second quarter of 2013 GCI had approximately 40.8 million Class A and B shares outstanding.
  • SG&A expenses for the second quarter of 2013 totaled $63.9 million, an increase of $3.8 million or 6 percent as compared to $60.0 million for the second quarter of 2012. As a percentage of revenues, SG&A expenses remained at 34 percent in the second quarter of 2013, compared with the same period in 2012.
  • GCI's second quarter 2013 capital expenditures totaled $50.4 million.
  • In anticipation of implementing the AWN transaction, we have changed our segment reporting methodology. Effective the first of this year, we are now organized in two segments, Wireless and Wireline.
    • The Wireless segment's revenue is derived from wholesale wireless services and roaming revenue, which includes revenue that was previously reported in the historical Consumer, Network Access, and Commercial segments. 
    • The Wireline segment's revenue represents all of our other services and products, including retail wireless, and includes three major customer groups: Consumer, Business Services and Managed Broadband.  The comparative figures for 2012 have been recast to be consistent with the new segment presentation.

GCI will hold a conference call to discuss the quarter's results on Thursday, August 1, 2013 beginning at 2 p.m. (Eastern). To access the briefing, call the conference operator between 1:50-2:00 p.m. (Eastern Time) at 888-989-7597 (International callers should dial 1-517-308-9016) and identify your call as "GCI."  In addition to the dial-up access, GCI will make available net conferencing. To access the call via net conference, log on to www.gci.com and follow the instructions. A replay of the call will be available for 72-hours by dialing 888-566-0408, access code 7461 (International callers should dial 1-402-998-0597.)

About GCI

GCI is the largest telecommunications company in Alaska.  GCI's cable plant, which provides broadband data services, video, and voice, passes 78 percent of Alaska households.  GCI operates Alaska's most extensive terrestrial/subsea fiber optic network which connects not only Anchorage but also Fairbanks and Juneau/Southeast Alaska to the lower 48 states with a diversely routed, protected fiber network. GCI's TERRA-Southwest fiber/microwave system links 65 communities in the Bristol Bay and Yukon-Kuskokwim Delta to Anchorage bringing terrestrial broadband Internet access to the region for the first time.  GCI's satellite network provides communications services to small towns and communities throughout rural Alaska.  GCI's statewide mobile wireless network seamlessly links urban and rural Alaska.

A pioneer in bundled services, GCI is the top provider of data, video and voice services to Alaska consumers with a 70 percent share of the consumer broadband market.  GCI is also the leading provider of communications services to enterprise customers, particularly large enterprise customers with complex data networking needs.  More information about GCI can be found at www.gci.com.

Forward Looking Statement Disclosure

The foregoing contains forward looking statements regarding GCI's expected results that are based on management's expectations as well as on a number of assumptions concerning future events.  Actual results might differ materially from those projected in the forward looking statements due to uncertainties and other factors, many of which are outside GCI's control.  Additional information concerning factors that could cause actual results to differ materially from those in the forward looking statements is contained in GCI's cautionary statement sections of Forms 10-K and 10-Q filed with the Securities and Exchange Commission.

GENERAL COMMUNICATION, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Unaudited)











(Amounts in thousands)







June 30,


December 31,

Assets


2013


2012






Current assets:





  Cash and cash equivalents


$        26,212


24,491






  Receivables


167,465


150,436

  Less allowance for doubtful receivables


2,810


3,215

     Net receivables


164,655


147,221






  Deferred income taxes


33,862


12,897

  Prepaid expenses


10,929


8,441

  Inventories


8,765


12,098

  Other current assets


493


1,678

       Total current assets


244,916


206,826






Property and equipment in service, net of depreciation


841,932


838,247

Construction in progress


104,897


94,418

       Net property and equipment


946,829


932,665






Cable certificates


191,635


191,635

Goodwill


77,294


77,294

Wireless licenses


25,967


25,967

Restricted cash


20,151


30,933

Other intangible assets, net of amortization


15,721


16,560

Deferred loan and senior notes costs, net of amortization


13,181


11,189

Other assets


14,293


13,453

    Total other assets


358,242


367,031

       Total assets


$   1,549,987


1,506,522










 (Continued) 











GENERAL COMMUNICATION, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Continued)











(Amounts in thousands)







June 30,


December 31,

Liabilities and Stockholders' Equity


2013


2012






Current liabilities:





  Current maturities of obligations under long-term debt and capital leases 


$         8,120


7,923

  Accounts payable


44,663


52,384

  Deferred revenue


25,425


25,218

  Accrued payroll and payroll related obligations


23,270


19,440

  Accrued interest


6,761


6,786

  Accrued liabilities


17,502


15,242

  Subscriber deposits


1,499


1,366

     Total current liabilities


127,240


128,359






Long-term debt, net


896,123


875,123

Obligations under capital leases, excluding current maturities


69,545


72,725

Obligation under capital lease due to related party, excluding

 current maturity


1,887


1,892

Deferred income taxes


151,814


123,661

Long-term deferred revenue


89,886


89,815

Other liabilities


25,899


25,511

       Total liabilities


1,362,394


1,317,086











Commitments and contingencies





Stockholders' equity:





  Common stock (no par):





   Class A. Authorized 100,000 shares; issued 37,694 and 38,534 shares at June 30, 2013 and December 31, 2012, respectively; outstanding 37,604 and 38,357 shares at June 30, 2013 and December 31, 2012,  respectively


10,832


22,703






    Class B. Authorized 10,000 shares; issued and outstanding 3,167 and 3,169 shares at June 30, 2013 and December 31, 2012, respectively; convertible on a share-per-share basis into Class A common stock


2,674


2,676






    Less cost of 90 and 177 Class A common shares held in treasury at June 30, 2013 and December 31, 2012, respectively


(866)


(1,617)






  Paid-in capital


27,921


25,832

  Retained earnings 


115,008


107,584

       Total General Communication, Inc. stockholders' equity


155,569


157,178

  Non-controlling interests


32,024


32,258

       Total stockholders' equity


187,593


189,436






       Total liabilities and stockholders' equity


$   1,549,987


1,506,522






GENERAL COMMUNICATION, INC. AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENTS

(Unaudited)















Three Months Ended


Six Months Ended


June 30,


June 30,

(Amounts in thousands, except per share amounts)

2013


2012


2013


2012









Revenues 

$189,661


176,104


$375,877


348,011









Cost of goods sold (exclusive of depreciation and amortization shown separately below)

65,699


58,073


130,309


114,933

Selling, general and administrative expenses

63,871


60,048


128,418


123,030

Depreciation and amortization expense 

34,396


33,350


68,395


65,730

   Operating income

25,695


24,633


48,755


44,318









Other expense:








  Interest expense (including amortization of deferred loan fees)

(17,424)


(16,948)


(34,328)


(34,103)

  Loss on extinguishment of debt

(103)


-


(103)


-

  Other

53


88


53


(41)

   Other expense

(17,474)


(16,860)


(34,378)


(34,144)









   Income before income tax expense 

8,221


7,773


14,377


10,174









Income tax expense

4,158


3,968


7,187


5,117









   Net income

4,063


3,805


7,190


5,057









Net loss attributable to non-controlling interests

117


177


234


354









   Net income attributable to General Communication, Inc.

$    4,180


3,982


$    7,424


5,411









Basic net income attributable to General Communication, Inc. common stockholders per Class A common share

$     0.10


0.10


$     0.18


0.13

Basic net income attributable to General Communication, Inc. common stockholders per Class B common share

$     0.10


0.10


$     0.18


0.13

Diluted net income attributable to General Communication, Inc. common stockholders per Class A common share

$     0.10


0.09


$     0.18


0.13

Diluted net income attributable to General Communication, Inc. common stockholders per Class B common share

$     0.10


0.09


$     0.18


0.13

Common shares used to calculate Class A basic EPS

37,979


38,516


38,126


38,629









Common shares used to calculate Class A diluted EPS

41,365


42,149


41,553


42,230

GENERAL COMMUNICATION, INC. AND SUBSIDIARIES

SUPPLEMENTAL SCHEDULES

(Unaudited)

(Amounts in thousands)














Second Quarter 2013


Second Quarter 2012



Wireline Segment




Wireline Segment



Wireless


Business

Managed




Wireless


Business

Managed




Segment

Consumer

Services

Broadband

Sub-total

Total


Segment

Consumer

Services

Broadband

Sub-total

Total

Revenues














  Wireless

$35,559

7,180

764

-

7,944

43,503


$30,360

6,847

791

-

7,638

37,998

  Data

-

24,413

39,394

23,370

87,177

87,177


-

21,523

34,308

21,717

77,548

77,548

  Video

-

27,740

3,467

-

31,207

31,207


-

29,235

3,236

-

32,471

32,471

  Voice

-

9,141

13,253

5,380

27,774

27,774


-

10,399

12,279

5,409

28,087

28,087

    Total 

35,559

68,474

56,878

28,750

154,102

189,661


30,360

68,004

50,614

27,126

145,744

176,104















Cost of goods sold

16,573

19,437

23,541

6,148

49,126

65,699


13,970

19,309

18,996

5,798

44,103

58,073















    Contribution

18,986

49,037

33,337

22,602

104,976

123,962


16,390

48,695

31,618

21,328

101,641

118,031















Less SG&A

4,652

30,997

15,799

12,423

59,219

63,871


3,864

31,075

15,263

9,846

56,184

60,048

Less other expense

-

-

-

(49)

(49)

(49)


-

-

-

(84)

(84)

(84)

    EBITDA

14,334

18,040

17,538

10,228

45,806

60,140


12,526

17,620

16,355

11,566

45,541

58,067















Add share-based compensation

(104)

779

596

376

1,751

1,647


-

413

310

142

865

865

Add accretion

43

53

36

23

112

155


64

44

29

15

88

152

Add loss from noncontrolling interests

-

-

-

197

197

197


-

-

-

177

177

177

Add non-cash contribution

-

-

-

-

-

-


-

82

51

27

160

160

    Adjusted EBITDA

$14,273

18,872

18,170

10,824

47,866

62,139


$12,590

18,159

16,745

11,927

46,831

59,421







































































GENERAL COMMUNICATION, INC. AND SUBSIDIARIES

SUPPLEMENTAL SCHEDULES

(Unaudited)

(Amounts in thousands)














Second Quarter 2013


First Quarter 2013



Wireline Segment




Wireline Segment



Wireless


Business

Managed




Wireless


Business

Managed




Segment

Consumer

Services

Broadband

Sub-total

Total


Segment

Consumer

Services

Broadband

Sub-total

Total

Revenues














  Wireless

$35,559

7,180

764

-

7,944

43,503


$33,837

6,546

679

-

7,225

41,062

  Data

-

24,413

39,394

23,370

87,177

87,177


-

24,056

40,136

22,680

86,872

86,872

  Video

-

27,740

3,467

-

31,207

31,207


-

27,961

3,125

-

31,086

31,086

  Voice

-

9,141

13,253

5,380

27,774

27,774


-

9,530

12,327

5,339

27,196

27,196

    Total 

35,559

68,474

56,878

28,750

154,102

189,661


33,837

68,093

56,267

28,019

152,379

186,216















Cost of goods sold

16,573

19,437

23,541

6,148

49,126

65,699


14,412

20,190

24,536

5,472

50,198

64,610















    Contribution

18,986

49,037

33,337

22,602

104,976

123,962


19,425

47,903

31,731

22,547

102,181

121,606















Less SG&A

4,652

30,997

15,799

12,423

59,219

63,871


4,417

31,306

16,083

12,741

60,130

64,547

Less other expense

-

-

-

(49)

(49)

(49)


-

-

-

(4)

(4)

(4)

    EBITDA

14,334

18,040

17,538

10,228

45,806

60,140


15,008

16,597

15,648

9,810

42,055

57,063















Add share-based

  compensation

(104)

779

596

376

1,751

1,647


104

514

407

234

1,155

1,259

Add accretion

43

53

36

23

112

155


77

24

16

10

50

127

Add loss from noncontrolling interests

-

-

-

197

197

197


-

-

-

200

200

200

    Adjusted EBITDA

$14,273

18,872

18,170

10,824

47,866

62,139


$15,189

17,135

16,071

10,254

43,460

58,649











































GENERAL COMMUNICATION, INC. AND SUBSIDIARIES

SUPPLEMENTAL SCHEDULES

(Unaudited)

(Amounts in thousands)














Six Months Ended June 30, 2013


Six Months Ended June 30, 2012



Wireline Segment




Wireline Segment



Wireless


Business

Managed




Wireless


Business

Managed




Segment

Consumer

Services

Broadband

Sub-total

Totals


Segment

Consumer

Services

Broadband

Sub-total

Totals

Revenues














  Wireless

$69,396

13,726

1,443

-

15,169

84,565


$59,804

12,893

1,454

-

14,347

74,151

  Data

-

48,469

79,530

46,050

174,049

174,049


-

41,972

69,441

40,746

152,159

152,159

  Video

-

55,701

6,592

-

62,293

62,293


-

58,257

6,356

-

64,613

64,613

  Voice

-

18,671

25,580

10,719

54,970

54,970


-

21,659

24,483

10,946

57,088

57,088

    Total 

69,396

136,567

113,145

56,769

306,481

375,877


59,804

134,781

101,734

51,692

288,207

348,011















Cost of goods sold

30,985

39,627

48,077

11,620

99,324

130,309


26,541

37,799

38,276

12,317

88,392

114,933















    Contribution

38,411

96,940

65,068

45,149

207,157

245,568


33,263

96,982

63,458

39,375

199,815

233,078















Less SG&A

9,069

62,303

31,882

25,164

119,349

128,418


7,728

64,762

31,856

18,684

115,302

123,030

Less other expense

-

-

-

(53)

(53)

(53)


-

-

-

47

47

47

    EBITDA

29,342

34,637

33,186

20,038

87,861

117,203


25,535

32,220

31,602

20,644

84,466

110,001















Add share-based

  compensation

-

1,293

1,003

610

2,906

2,906


-

1,236

895

464

2,595

2,595

Add accretion

120

77

52

33

162

282


128

107

69

36

212

340

Add loss from noncontrolling  interests

-

-

-

397

397

397


-

-

-

354

354

354

Add non-cash contribution

-

-

-

-

-

-


-

491

306

163

960

960

    Adjusted EBITDA

$29,462

36,007

34,241

21,078

91,326

120,788


$25,663

34,054

32,872

21,661

88,587

114,250















GENERAL COMMUNICATION, INC. AND SUBSIDIARIES

KEY PERFORMANCE INDICATORS

(Unaudited)















June 30, 2013

June 30, 2013






as compared to

as compared to



June 30,

June 30,

March 31,

June 30,

March 31,

June 30,

March 31,



2013

2012

2013

2012

2013

2012

2013

Wireline segment








Consumer








Data









Cable modem subscribers

115,600

111,700

117,000

3,900

(1,400)

3.5%

-1.2%










Video









Basic subscribers

119,600

122,500

122,000

(2,900)

(2,400)

-2.4%

-2.0%


Digital programming tier subscribers

69,500

72,200

72,200

(2,700)

(2,700)

-3.7%

-3.7%


HD/DVR converter boxes

89,900

88,400

90,300

1,500

(400)

1.7%

-0.4%


Homes passed

245,100

242,400

244,800

2,700

300

1.1%

0.1%










Voice









Local access lines in service

65,200

74,400

68,000

(9,200)

(2,800)

-12.4%

-4.1%


Local access lines in service on GCI facilities

60,800

69,300

63,300

(8,500)

(2,500)

-12.3%

-3.9%










Business Services








Data









Cable modem subscribers

14,100

11,800

13,400

2,300

700

19.5%

5.2%










Video









Hotels and mini-headend

subscribers

20,800

19,300

16,700

1,500

4,100

7.8%

24.6%


Basic subscribers

2,000

1,900

1,900

100

100

5.3%

5.3%


Total basic subscribers

22,800

21,200

18,600

1,600

4,200

7.5%

22.6%










Voice









Local access lines in service

50,500

51,800

50,400

(1,300)

100

-2.5%

0.2%


Local access lines in service on GCI facilities

35,600

30,200

30,400

5,400

5,200

17.9%

17.1%










Managed Broadband








Voice:









Local access lines in service

8,100

8,700

8,100

(600)

-

-6.9%

0.0%










Consumer and Business Services Combined







Wireless









Consumer Lifeline lines in service

32,600

39,900

32,700

(7,300)

(100)

-18.3%

-0.3%


Consumer Non-Lifeline lines in service

92,800

84,900

91,800

7,900

1,000

9.3%

1.1%


Business Services Non-Lifeline lines in service

17,500

16,200

17,100

1,300

400

8.0%

2.3%


Total wireless lines in service

142,900

141,000

141,600

1,900

1,300

1.3%

0.9%














June 30, 2013

June 30, 2013



Three Months Ended

as Compared to

as Compared to



June 30,

June 30,

March 31,

June 30,

March 31,

June 30,

March 31,



2013

2012

2013

2012

2013

2012

2013










Wireline segment








Consumer








Data









Average monthly revenue per

cable modem subscriber

$ 68.25

$ 63.64

$66.53

$ 4.61

$ 1.72

7.2%

2.6%










Video









Average monthly revenue per

subscriber

$ 76.47

$ 78.89

$76.45

$ (2.42)

$ 0.02

-3.1%

0.0%










Combined Consumer and Business Services







Wireless









Average monthly revenue per

subscriber

$ 49.99

$ 47.29

$49.27

$ 2.70

$ 0.72

5.7%

1.5%










Total








Voice









Long-distance minutes carried

(in millions)

238.0

241.3

228.5

(3.3)

9.5

-1.4%

4.2%

 




General Communication, Inc.

Non-GAAP Financial Reconciliation Schedule

(Unaudited, Amounts in Millions)




























Three Months Ended


Six Months Ended




June 30,


June 30,


March 31,


June 30,


June 30,




2013


2012


2013


2013


2012

Net income


$

4.1


3.8


3.1


7.2


5.1

Income tax expense



4.1


4.0


3.1


7.2


5.1

Income before income tax
   expense



8.2


7.8


6.2


14.4


10.2













Other expense:












Interest expense (including
   amortization of deferred
   loan fees)



17.4


16.9


16.9


34.3


34.1

Loss on extinguisment of debt



0.2


-


-


0.2


-

Other



(0.1)


(0.1)


-


(0.1)


-

Other expense



17.5


16.8


16.9


34.4


34.1













Operating income 



25.7


24.6


23.1


48.8


44.3

Depreciation and amortization expense



34.4


33.5


34.0


68.4


65.7

Equity investment



-


-


-


-


-













EBITDA (Note 2)



60.1


58.1


57.1


117.2


110.0

Share-based compensation



1.6


0.9


1.2


2.9


2.6

Accretion



0.2


0.1


0.1


0.3


0.3

Non-controlling interests



0.2


0.2


0.2


0.4


0.4

Non-cash contribution adjustment



-


0.1


-


-


1.0

Adjusted EBITDA (Note 1)


$

62.1


59.4


58.6


120.8


114.3





































Notes:












(1)

EBITDA (as defined in Note 2 below) before deducting share-based compensation, accretion expense, and net income or loss attributable to non-controlling interests and non-cash contribution adjustment.



(2)

Earnings Before Interest, Taxes, Depreciation and Amortization is the sum of Net Income, Interest Expense (including Amortization of Deferred Loan Fees), Interest Income, Income Tax Expense, and Depreciation and Amortization Expense. EBITDA is not presented as an alternative measure of net income, operating income or cash flow from operations, as determined in accordance with accounting principles generally accepted in the United States of America. GCI's management uses EBITDA to evaluate the operating performance of its business, and as a measure of performance for incentive compensation purposes. GCI believes EBITDA is a measure used as an analytical indicator of income generated to service debt and fund capital expenditures. In addition, multiples of current or projected EBITDA are used to estimate current or prospective enterprise value. EBITDA does not give effect to cash used for debt service requirements, and thus does not reflect funds available for investment or other discretionary uses. EBITDA as presented herein may not be comparable to similarly titled measures reported by other companies.














 

SOURCE General Communication, Inc.

Nachrichten zu General Communication Inc. (GCI)mehr Nachrichten

Keine Nachrichten verfügbar.

Analysen zu General Communication Inc. (GCI)mehr Analysen

Eintrag hinzufügen
Hinweis: Sie möchten dieses Wertpapier günstig handeln? Sparen Sie sich unnötige Gebühren! Bei finanzen.net Brokerage handeln Sie Ihre Wertpapiere für nur 5 Euro Orderprovision* pro Trade? Hier informieren!
Es ist ein Fehler aufgetreten!