iHeartMedia 2009 Annual Report Download - page 143
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138
(In thousands)
Period from July 31
through
September 30,
2008
Period from July 1
through
July 30,
2008
Three Months
ended
September 30,
2008
Post-Merger Pre-Merger Combined
Revenue
$1,128,136 $556,457 $1,684,593
Operating expenses:
Direct operating expenses (excludes depreciation and amortization)
473,738 256,667 730,405
Sellin
g
,
g
eneral and administrative ex
p
enses (excludes de
p
reciation and amortization) 291,469 150,344 441,813
Depreciation and amortization
108,140 54,323 162,463
Corporate expenses (excludes depreciation and amortization)
33,395 31,392 64,787
Merger expenses
— 79,839 79,839
Gain (loss) on disposition of assets – net
842 (4,624) (3,782)
Operating income (loss)
222,236 (20,732) 201,504
Interest expense
281,479 31,032 312,511
Equity in earnings of nonconsolidated affiliates
2,097 2,180 4,277
Other income (expense) – net
(10,914) (10,813) (21,727)
Income (loss) before income taxes and discontinued operations
(68,060) (60,397) (128,457)
Income tax benefit
33,209 19,135 52,344
Income (loss) before discontinued operations
(34,851) (41,262) (76,113)
Income (loss) from discontinued operations, net
(1,013) (3,058) (4,071)
Consolidated net income (loss)
(35,864) (44,320) (80,184)
Amount attributable to noncontrolling interest
8,868 1,135 10,003
Net income (loss) attributable to the Company
$(44,732) $(45,455) $(90,187)
Net income (loss)
p
er common share:
Income (loss) attributable to the Company before discontinued operations – Basic $(.09)
Discontinued operations – Basic
—
Net income (loss) attributable to the Com
p
an
y
–Basic $ (.09)
Weighted average common shares - Basic
495,465
Income (loss) attributable to the Company before discontinued operations – Diluted $(.09)
Discontinued operations – Diluted
—
Net income (loss) attributable to the Company – Diluted $(.09)
Weighted average common shares - Diluted
495,465
Dividends declared per share
$—