Frontier Communications 2009 Annual Report Download - page 68
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FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2009, 2008 and 2007
($ in thousands, except for per-share amounts)
2009 2008 2007
Revenue ......................................................... $2,117,894 $2,237,018 $2,288,015
Operating expenses:
Network access expenses .................................... 225,907 222,013 228,242
Other operating expenses .................................... 781,097 810,748 808,501
Depreciation and amortization . . .............................. 476,391 561,801 545,856
Acquisition and integration costs ............................. 28,334 — —
Total operating expenses . . ....................................... 1,511,729 1,594,562 1,582,599
Operating income ................................................ 606,165 642,456 705,416
Investment income ............................................... 6,285 16,118 37,641
Other income (loss), net . . . ....................................... (41,127) (5,170) (17,833)
Interest expense . . ................................................ 378,214 362,634 380,696
Income before income taxes.................................. 193,109 290,770 344,528
Income tax expense .............................................. 69,928 106,496 128,014
Net income ...................................................... 123,181 184,274 216,514
Less: Income attributable to the noncontrolling interest in a
partnership .................................................... 2,398 1,614 1,860
Net income attributable to common shareholders of Frontier........ $ 120,783 $ 182,660 $ 214,654
Basic and diluted income per common share attributable to
common shareholders of Frontier . .............................. $ 0.38 $ 0.57 $ 0.64
The accompanying Notes are an integral part of these Consolidated Financial Statements.
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