Cincinnati Bell 2005 Annual Report Download - page 9

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Financial Highlights
Year Ended December 31
(dollars in millions) 2005 2004 2003
Operating Data
Revenue $1,209.6 $1,207.1 $1,557.8
Cost of services and products, selling, general, and administrative,
depreciation and amortization 908.0 896.7 1,204.3
Restructuring, asset impairments and other charges 42.8 14.8 6.2
Gain on sale of broadband assets –(3.7) (336.7)
Operating income 258.8 299.3 684.0
Minority interest expense (income) (11.0) (0.5) 42.2
Interest expense 184.4 203.3 217.8
Loss on extinguishment of debt 99.8 – 17.6
Income (loss) from continuing operations before cumulative
effect of change in accounting principle (64.5) 64.2 1,246.0
Net income (loss) $ (64.5) $ 64.2 $1,331.9
Financial Position
Property, plant and equipment, net $ 800.4 $ 857.7 $ 898.8
Total assets 1,863.3 1,958.7 2,073.5
Long-term debt 2,073.4 2,111.1 2,274.5
Total debt 2,084.7 2,141.2 2,287.8
Total long-term obligations 2,287.0 2,237.7 2,406.0
Minority interest 28.2 39.2 39.7
Shareowners’ deficit (737.7) (624.5) (679.4)
These financial highlights should be read in conjunction with the Consolidated Financial Statements and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” included in the company’s Report on Form 10-K included in this document.
Safe Harbor Statement
Certain of the statements and predictions contained in this
report constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act. In
particular, any statements, projections or estimates that include
or reference the words “believes,” “anticipates,” “plans,”
“intends,” “expects,” “will,” or any similar expression fall within
the safe harbor for forward-looking statements contained in the
Reform Act. Actual results or outcomes may differ materially
from those indicated or suggested by any such forward-looking
statement for a variety of reasons, including but not limited to,
Cincinnati Bell’s ability to maintain its market position in
communications services, including wireless, wireline and
internet services; general economic trends affecting the purchase
or supply of communication services; world and national events
that may affect the ability to provide services; changes in the
regulatory environment; any rulings, orders or decrees that may
be issued by any court or arbitrator; restrictions imposed under
various credit facilities and debt instruments; work stoppages
caused by labor disputes; adjustments resulting from year-end
audit procedures; and Cincinnati Bell’s ability to develop and
launch new products and services. More information on
potential risks and uncertainties is available in recent filings
with the Securities and Exchange Commission, including
Cincinnati Bell’s Form 10-K report, Form 10-Q reports and
Forms 8-K. The forward-looking statements included in this
report represent estimates as of March 15, 2006. It is
anticipated that subsequent events and developments will cause
estimates to change.
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