iHeartMedia 2004 Annual Report Download - page 93
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NOTE O - QUARTERLY RESULTS OF OPERATIONS (Unaudited)
(In thousands, except per share data)
The Company’s Common Stock is traded on the New York Stock Exchange under the symbol CCU.
90
March 31, June 30, September 30, December 31,
2004 2003 2004 2003 2004 2003 2004 2003
Revenue $1,969,566 $1,779,443 $2,485,034 $2,317,249 $2,648,873 $2,544,146 $2,314,986 $2,290,061
Operating expenses:
Divisional operating expenses 1,499,718 1,361,075 1,760,313 1,641,905 1,937,194 1,842,329 1,653,201 1,643,547
Non-cash compensation 918 799 915 1,779 786 880 2,001 1,560
Depreciation and amortization 173,158 159,562 167,754 161,880 170,150 165,882 182,896 184,014
Corporate expenses 49,364 42,779 46,581 42,459 46,645 44,050 52,435 44,866
Operating income 246,408 215,228 509,471 469,226 494,098 491,005 424,453 416,074
Interest expense 89,805 100,952 85,403 95,311 91,607 98,192 100,938 93,545
Gain (loss)on marketable securities 49,723 2,792 (5,503)2,581 3,485 675,027 (1,434)(1,554)
Equity in earnings of nonconsolidated
affiliates 6,675 2,335 10,635 6,713 3,194 2,957 4,687 10,021
Other income (expense) – ne
t
(17,270) 2 (2,694)39,142 (622)(1,840)6,639 (16,345)
Income before income taxes and
cumulative effect of a change in
accounting principle 195,731 119,405 426,506 422,351 408,548 1,068,957 333,407 314,651
Income tax (expense) benefi
t
(79,271)(48,359)(172,736)(171,051)(147,314)(432,928)(119,072)(127,435)
Income before cumulative effect of a
change in accounting principle 116,460 71,046 253,770 251,300 261,234 636,029 214,335 187,216
Cumulative effect of a change in
accounting principle, net of tax of
$2,959,003
(4,883,968)
Net income (loss) $ 116,460 $ 71,046 $ 253,770 $ 251,300 $ 261,234 $ 636,029 $(4,669,633) $ 187,216
Net income (loss) per common share:
Basic:
Income before cumulative effect
of a change in accounting
principle $.19 $.12 $.42 $.41 $.45 $1.03 $.37 $.30
Cumulative effect of a change in
accounting principle
(8.54)
Net income (loss) $.19 $.12 $.42 $.41 $.45 $1.03 $(8.17) $ .30
Diluted:
Income before cumulative effect
of a change in accounting
principle $.19 $.12 $.41 $.41 $.44 $1.03 $.37 $.30
Cumulative effect of a change in
accounting principle
(8.52)
Net income (loss) $.19 $.12 $.41 $.41 $.44 $1.03 $(8.15) $ .30
Dividends declared per share $ .10 $
$.10$
$ .125 $ .10 $ .125 $ .10
Stock price:
High $ 47.76 $ 43.98 $ 44.50 $ 43.85 $ 37.24 $ 46.18 $ 35.07 $ 47.48
Low 38.90 31.00 35.35 33.35 30.62 36.36 29.96 38.50