FairPoint Communications 2003 Annual Report Download - page 30
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43
Revenues $230,176 230,819 231,432
Operating expenses:
Operating expenses, excluding depreciation and amortization and stock-
based compensation 115,763 110,265 111,188
Depreciation and amortization 55,081 46,310 48,089
Stock-based compensation 1,337 924 15
Total operating expenses 172,181 157,499 159,292
Income from operations 57,995 73,320 72,140
Other income (expense):
Net gain (loss) on sale of investments and other assets (648)34 608
Interest and dividend income 1,998 1,898 1,792
Interest expense (76,314)(69,520)(90,224)
Impairment on investments — (12,568)—
Equity in net earnings of investees 4,930 7,798 10,092
Realized and unrealized gains (losses) on interest rate swaps (12,873)(9,577)(1,387)
Other nonoperating, net (77)441 (1,505)
Total other expense (82,984)(81,494)(80,624)
Loss from continuing operations before income taxes (24,989)(8,174)(8,484)
Income tax benefit (expense) (431)(518)236
Minority interest in income of subsidiaries (2)(2)(2)
Loss from continuing operations (25,422)(8,694)(8,250)
Discontinued operations:
Income (loss) from discontinued operations (90,894)2,433 1,929
Income (loss) on disposal of assets of discontinued operations (95,284)19,500 7,992
Income (loss) from discontinued operations (186,178)21,933 9,921
Net income (loss) (211,600)13,239 1,671
Redeemable preferred stock dividends and accretion — (11,918)(8,892)
Gain on repurchase of redeemable preferred stock — — 2,905
Net income (loss) attributed to common shareholders $(211,600)1,321 (4,316)
See accompanying notes to consolidated financial statements.
44