FairPoint Communications 2004 Annual Report Download - page 77

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Revenues $252,645 231,432 230,819
Operating expenses:
Operating expenses, excluding depreciation and amortization and stock-
based compensation 128,755 111,188 110,265
Depreciation and amortization 50,287 48,089 46,310
Stock-based compensation 49 15 924
Total operating expenses 179,091 159,292 157,499
Income from operations 73,554 72,140 73,320
Other income (expense):
Net gain on sale of investments and other assets 104 608 34
Interest and dividend income 2,335 1,792 1,898
Interest expense (104,315)(90,224)(69,520)
Impairment on investments (349)— (12,568)
Equity in net earnings of investees 10,899 10,092 7,798
Realized and unrealized losses on interest rate swaps (112)(1,387)(9,577)
Other nonoperating, net (5,951)(1,505)441
Total other expense (97,389)(80,624)(81,494)
Loss from continuing operations before income taxes (23,835)(8,484)(8,174)
Income tax benefit (expense) (516)236 (518)
Minority interest in income of subsidiaries (2)(2)(2)
Loss from continuing operations (24,353)(8,250)(8,694)
Discontinued operations:
Income from discontinued operations — 1,929 2,433
Income on disposal of assets of discontinued operations 671 7,992 19,500
Income from discontinued operations 671 9,921 21,933
Net income (loss) (23,682)1,671 13,239
Redeemable preferred stock dividends and accretion — (8,892)(11,918)
Gain on repurchase of redeemable preferred stock — 2,905 —
Net income (loss) attributed to common shareholders $(23,682)(4,316)1,321
Weighted average shares outstanding:
Basic 9,468 9,483 9,498
Diluted 9,468 9,483 9,498
Basic and diluted loss from continuing operations per share $(2.57)(1.50)(2.17)
Basic and diluted earnings from discontinued operations per share $0.07 1.04 2.31
Basic and diluted earnings (loss) per share $(2.50)(0.46)0.14