Virgin Media 2006 Annual Report Download - page 84

VIRGIN MEDIA INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data)
Year ended December 31,
2006 2005 2004
Revenue £ 3,602.2 £ 1,947.6 £ 2,000.3
Costs and expenses
Operating costs (exclusive of depreciation shown separately
below) 1,572.8 808.3 827.7
Selling, general and administrative expenses 906.9 483.0 502.2
Other charges 67.0 24.8 23.8
Depreciation 799.1 541.7 594.9
Amortization 246.6 109.5 104.2
3,592.4 1,967.3 2,052.8
Operating income (loss) 9.8 (19.7) (52.5)
Other income (expense)
Interest income and other, net 34.7 29.4 5.8
Interest expense (457.4) (235.8) (271.0)
Loss on extinguishment of debt (32.8) (2.0) (162.2)
Share of income (losses) from equity investments 12.5 — (0.1)
Gains on derivative instruments 1.3 0.9 —
Foreign currency transaction (losses) gains (90.1) 5.3 (24.4)
Loss from continuing operations before income taxes, minority
interest and cumulative effect of changes in accounting
principle (522.0) (221.9) (504.4)
Income tax benefit (expense) 11.8 (18.8) (5.0)
Minority interest 1.0 (1.0) —
Loss from continuing operations (509.2) (241.7) (509.4)
Discontinued operations
Income from discontinued operations before income taxes — 5.7 25.2
Income tax expense — (0.2) (0.7)
Gain on disposal of assets 7.9 657.2 —
Income from discontinued operations 7.9 662.7 24.5
Cumulative effect of changes in accounting principle (32.6) — —
Net (loss) income £ (533.9) £ 421.0 £ (484.9)
Basic and diluted loss from continuing operations per common
share £ (1.74) £ (1.13) £ (2.33)
Basic and diluted income from discontinued operations per
common share £ 0.03 £ 3.10 £ 0.11
Basic and diluted loss from cumulative effect of changes in
accounting principle per share £ (0.11) £ — £ —
Basic and diluted net (loss) income per common share £ (1.82) £ 1.97 £ (2.22)
Dividends per share £ 0.03 £ — £ —
Average number of shares outstanding 292.9 213.8 218.0
See accompanying notes.
F−4
Source: VIRGIN MEDIA INVESTM, 10−K, March 01, 2007