FairPoint Communications 2006 Annual Report Download - page 44
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The information in our year to year comparisons below represents only our results from continuing operations.
The following table sets forth the percentages of revenues represented by selected items reflected in our consolidated statements of operations. The year to
year comparison of financial results are not necessarily indicative of future results:
Revenues $270,069 100.0%$ 262,843 100.0%$252,645 100.0%
Operating expenses, excluding
depreciation and amortization 155,463 57.6 143,425 54.6 128,804 51.0
Depreciation and amortization 53,236 19.7 52,390 19.9 50,287 19.9
Total operating expenses 208,699 77.3 195,815 74.5 179,091 70.9
Income from operations 61,370 22.7 67,028 25.5 73,554 29.1
Other income (expense):
Net gain (loss) on sale of investments
and other assets 14,740 5.5 (11) — 104 —
Interest and dividend income 3,315 1.2 2,499 1.0 2,335 0.9
Interest expense (39,665)(14.7) (46,416) (17.7)(104,315)(41.3)
Impairment of investments — — (1,200)(0.5)(349)0.1
Equity in net earnings of investees 10,616 3.9 11,302 4.3 10,899 4.3
Realized and unrealized losses on
interest rate swaps — — — — (112) —
Other nonoperating, net — — (87,746) 33.4 (5,951) (2.5)
Total other expense (10,994) (4.1)(121,572)46.3 (97,389)(38.5)
Income (loss) from continuing operations
before income taxes 50,376 18.6 (54,544)(20.8)(23,835)(9.4)
Income tax benefit (expense) (19,858)(7.3)83,096 31.6 (516)(0.2)
Minority interest in income of
subsidiaries (2) — (2) — (2) —
Income (loss) from continuing operations $30,516 11.3%$28,550 10.9%$(24,353)(9.6)%
Year Ended December 31, 2006 Compared with Year Ended December 31, 2005
Revenues
Revenues increased $7.2 million to $270.1 million in 2006 compared to 2005. Operations acquired in 2005 and 2006 contributed $10.6 million to the
increased total revenues. Excluding the impact of acquired operations, revenues from our existing operations decreased $3.4 million. We derived our revenues
from the following sources:
Local calling service revenues increased $2.6 million to $67.7 million in 2006. Acquired operations increased local calling
service revenues by $3.0 million. Revenues from our existing operations decreased $0.4 million compared to 2005. The decrease in local revenues from existing
operations is primarily due to a 3.4% decline in net voice access lines.
USF high cost loop payments increased $0.3 million to $20.0 million in 2006. Acquired operations
added $0.6 million in USF revenue and USF revenues from our
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