Clearwire 2007 Annual Report Download - page 56

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Results of Operations
The following table sets forth certain operating data for the periods presented (in thousands except per share
data).
2007 2006 2005
Year Ended December 31,
REVENUES:
Service .............................................. $151,440 $ 67,598 $ 8,451
Equipment and other (includes related party sales of $0, $15,546,
and $9,728) ......................................... — 32,583 25,003
Total revenues ..................................... 151,440 100,181 33,454
OPERATING EXPENSES:
Cost of goods and services (exclusive of a portion of depreciation
and amortization shown separately below):
Cost of service (includes related party costs of $2,877, $606
and$0) .......................................... 107,281 50,438 13,086
Cost of equipment (includes related party costs of $0, $8,914 and
$1,843) .......................................... — 19,674 10,483
Selling, general and administrative expense ................... 360,666 214,669 106,211
Research and development . . . ............................. 1,397 8,890 9,639
Depreciation and amortization ............................. 84,694 40,902 11,913
Spectrum lease expense .................................. 96,417 23,516 9,356
Gain on sale of NextNet ................................. — (19,793) —
Total operating expenses. ............................. 650,455 338,296 160,688
OPERATING LOSS ...................................... (499,015) (238,115) (127,234)
OTHER INCOME (EXPENSE):
Interest income ........................................ 65,736 30,429 6,605
Interest expense........................................ (96,279) (72,280) (14,623)
Foreign currency gains, net . . ............................. 363 235 20
Loss on extinguishment of debt ............................ (159,193) — —
Other-than-temporary impairment loss and realized loss on
investments ......................................... (35,020) — —
Other income (expense), net . ............................. 1,801 2,150 300
Total other expense, net . . . ............................. (222,592) (39,466) (7,698)
LOSS BEFORE INCOME TAXES, MINORITY INTEREST AND
LOSSES FROM EQUITY INVESTEES ...................... (721,607) (277,581) (134,932)
Income tax provision .................................... (5,427) (2,981) (1,459)
LOSS BEFORE MINORITY INTEREST AND LOSSES FROM
EQUITY INVESTEES .................................. (727,034) (280,562) (136,391)
Minority interest in net loss of consolidated subsidiaries .......... 4,244 1,503 387
Losses from equity investees . ............................. (4,676) (5,144) (3,946)
NET LOSS ............................................. $(727,466) $(284,203) $(139,950)
Net loss per common share, basic and diluted ................... $ (4.58) $ (2.93) $ (1.97)
Weighted average common shares outstanding, basic and diluted ..... 158,737 97,085 71,075
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