Clearwire 2008 Annual Report Download - page 70

CLEARWIRE CORPORATION AND
S
UB
S
IDIARIE
S
Results o
fOp
erat
i
on
s
Within this “Results of O
p
erations” section, we disclose results of o
p
erations on both an “as re
p
orted” and
a
“pro
f
orma”
b
as
i
s. T
h
e reporte
d
resu
l
ts are not necessar
ily
representat
i
ve o
f
our on
g
o
i
n
g
operat
i
ons as O
ld
Clearwire’s results are included onl
y
for the period of time after the November 28, 2008 Closin
g
. Prior to that date
,
t
he reported results reflect onl
y
the Sprint WiMAX Business’ results. Therefore, to facilitate an understandin
g
of
our tren
d
san
d
on-go
i
ng per
f
ormance, we
h
ave presente
d
pro
f
orma resu
l
ts
i
na
ddi
t
i
on to t
h
e reporte
d
resu
l
ts. T
h
e
unaudited
p
ro forma combined statements of o
p
erations were
p
re
p
ared in accordance with Article 11- Pro form
a
F
inancial Information of Securities and Exchan
g
e Commission Re
g
ulation S-X. The pro forma results include both
th
e Spr
i
nt W
i
MAX Bus
i
ness an
d
O
ld
C
l
earw
i
re
f
or 2008 an
d
2007, as a
dj
uste
df
or certa
i
n pro
f
orma purc
h
ase
accountin
g
ad
j
ustments and other non-recurrin
g
char
g
es, and
g
ive effect to the Transactions as thou
g
h the Closin
g
had occurred as of Januar
y
1, 2007. A reconciliation of pro forma amounts to reported amounts has been included
un
d
er t
h
e
h
ea
di
ng “Pro Forma Reconc
ili
at
i
on.”
Th
e
f
o
ll
ow
i
ng ta
bl
e sets
f
ort
h
as reporte
d
operat
i
ng
d
ata
f
or t
h
e per
i
o
d
s presente
d
(
i
nt
h
ousan
d
s, except pe
r
sh
are
d
ata
).
As Reported Results — Year Ended December 31, 2008
C
ompared to Year Ended December 31, 200
7
CO
N
SO
LIDATED
S
TATEMENT
SO
F
O
PERATI
O
N
S
(
In thousands, except per share data
)
2008 2007
Y
ear Ended December 31
,
REVEN
U
E
S
......................................................
$
20,489 $
—
O
PERATIN
G
EXPEN
S
E
S:
Cost of goods and services and network costs (exclusive of items show
n
separate
l
y
b
e
l
ow)..............................................
.
1
31
,
489 48
,
86
5
S
e
lli
n
g
,
g
enera
l
an
d
a
d
m
i
n
i
strat
i
ve expense
.............................
1
50,940 99,490
D
e
p
rec
i
at
i
on an
d
amort
i
zat
i
o
n
.......................................
5
8,146 3,979
Sp
ectrum lease ex
p
ense ...........................................
.
90
,
032 60
,
0
5
1
T
ransact
i
on re
l
ate
d
expense
s
........................................
82
,
9
6
0
—
T
ota
l
operat
i
n
g
expense
s
.........................................
513
,
567 212
,
385
O
PERATIN
G
L
OSS
................................................
(493,078) (212,38
5
)
OTHER INCOME
(
EXPENSE
):
Interest
i
ncome ..................................................
1,
091
—
Interest ex
p
ense
..................................................
(
16,545)
—
F
oreign currency gains, ne
t
......................................... 684 —
O
t
h
er-t
h
an-temporary
i
mpa
i
rment
l
oss an
d
rea
li
ze
dl
oss on
i
nvestments .........
(
17,036
)—
O
t
h
er
i
ncome (ex
p
ense), ne
t
.........................................
(5,856) 4,02
2
Total other income (ex
p
ense), ne
t
.......................................
(
37,662) 4,02
2
L
OSS BEFORE NON-CONTROLLING INTERESTS AND INCOME TAXE
S
.....
(
5
30,740) (208,363)
N
on-contro
lli
ng
i
nterests
i
n net
l
oss o
f
conso
lid
ate
d
su
b
s
idi
ar
i
es.............
.
1
59
,
721
—
LOSS
BEF
O
RE IN
CO
ME TAXE
S
.....................................
(
371,019) (208,3
6
3)
Income tax
p
rovision
..............................................
(6
1,
6
07) (1
6
,3
6
2)
N
ET LOSS .......................................................
$(
432,626
)$(
224,725
)
N
et loss
p
er Clearwire Class A Common Share (1):
Bas
i
c..........................................................
$
(
0.16
)
Diluted ........................................................
$
(
0.28
)
W
e
i
g
h
te
d
average C
l
earw
i
re C
l
ass A Common S
h
ares outstan
di
ng
:
58