FairPoint Communications 2007 Annual Report Download - page 49
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Table of Contents
The following financial information should be read in conjunction with “Item 7. Management’s Discussion and Analysis of
Financial Condition and Results of Operations” and our consolidated financial statements and notes thereto contained elsewhere in this
Annual Report. Amounts are in thousands, except access lines and per share data.
Revenues $ 283,462 $ 270,069 $ 262,843 $ 252,645 $ 231,432
Operating expenses:
Operating expenses(1) 218,560 155,463 143,425 128,804 111,203
Depreciation and amortization 50,836 53,236 52,390 50,287 48,089
Gain on sale of operating assets (2,164) — — — —
Total operating expenses 267,232 208,699 195,815 179,091 159,292
Income from operations 16,230 61,370 67,028 73,554 72,140
Interest expense(2) (39,662) (39,665) (46,416) (104,315) (90,224)
Other income (expense), net(3) 38,243 28,671 (75,156) 6,926 9,600
Income (loss) from continuing operations before income
taxes 14,811 50,376 (54,544) (23,835) (8,484)
Income tax (expense) benefit(4) (9,093) (19,858) 83,096 (516) 236
Minority interest in income of subsidiaries (1) (2) (2) (2) (2)
Income (loss) from continuing operations 5,717 30,516 28,550 (24,353) (8,250)
Income from discontinued operations 297 574 380 671 9,921
Net income (loss) 6,014 31,090 28,930 (23,682) 1,671
Redeemable preferred stock dividends and accretion(2) — — — — (8,892)
Gain on repurchase of redeemable preferred stock — — — — 2,905
Net income (loss) attributable to common shareholders $ 6,014 $ 31,090 $ 28,930 $ (23,682) $ (4,316)
Basic shares outstanding 34,752 34,629 31,927 9,468 9,483
Diluted shares outstanding 34,980 34,754 31,957 9,468 9,483
Basic and diluted earnings (loss) from continuing
operations per share $ 0.16 $ 0.88 $ 0.89 $ (2.57) $ (1.50)
Cash dividends paid per share $ 1.59 $ 1.59 $ 1.42 $ — $ —
Capital expenditures $ 59,152 $ 32,317 $ 28,099 $ 36,492 $ 33,595
Access line equivalents(5) 305,777 311,150 288,899 271,150 264,308
Residential access lines 182,182 194,119 188,206 189,668 196,145
Business access lines 55,892 57,587 55,410 49,606 50,226
High Speed Data subscribers 67,703 59,444 45,283 31,876 17,937
Net cash provided by operating activities of continuing
operations $ 35,829 $ 81,766 $ 61,682 $ 45,975 $ 32,834
Net cash provided by (used in) investing activities of
continuing operations 3,819 (27,361) (42,807) (20,986) (54,010)
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