FairPoint Communications 2004 Annual Report Download - page 34

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The following financial information should be read in conjunction with "Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations" and our consolidated financial statements and notes thereto contained elsewhere in this Annual
Report. Amounts in thousands, except access lines and ratios.
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Revenues $252,645 $231,432 $230,819 $230,176 $190,786
Operating expenses:
Operating expenses 128,755 111,188 110,265 115,763 95,540
Depreciation and amortization(1) 50,287 48,089 46,310 55,081 46,146
Stock based compensation expense 49 15 924 1,337 12,323
Total operating expenses 179,091 159,292 157,499 172,181 154,009
Income from operations 73,554 72,140 73,320 57,995 36,777
Interest expense(2) (104,315) (90,224) (69,520) (76,314) (59,556)
Other income (expense), net(3) 6,926 9,600 (11,974) (6,670) 13,198
Loss from continuing operations before income
taxes (23,835) (8,484) (8,174) (24,989) (9,581)
Income tax (expense) benefit(3) (516) 236 (518) (431) (5,607)
Minority interest in income of subsidiaries (2) (2) (2) (2) (3)
Loss from continuing operations (24,353) (8,250) (8,694) (25,422) (15,191)
Income (loss) from discontinued operations 671 9,921 21,933 (186,178) (73,926)
Net income (loss) (23,682) 1,671 13,239 (211,600) (89,117)
Redeemable preferred stock dividends and
accretion(2) — (8,892) (11,918) — —
Gain on repurchase of redeemable preferred stock — 2,905 — — —
Net income (loss) attributable to common
shareholders (23,682)$(4,316)$1,321 $(211,600)$(89,117)
Basic and diluted shares outstanding(4) 9,468 9,483 9,498 9,499 9,357
Basic and diluted loss from continuing operations
per share(4) $(2.57)$(1.50)$(2.17)$(2.68)$(1.62)
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EBITDA(5) $130,765 $129,827 $107,654 $106,404 $96,118
Adjusted EBITDA(5) 141,156 132,574 131,656 120,951 100,034
Capital expenditures 36,492 33,595 38,803 43,175 49,601
Access line equivalents(6) 271,150 264,308 248,581 247,862 237,294
Residential access lines 189,668 196,145 189,803 191,570 184,798
Business access lines 49,606 50,226 51,810 53,056 51,025
Digital subscriber lines 31,876 17,937 6,968 3,236 1,471
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Net cash provided by operating activities of
continuing operations $45,975 $32,834 $55,632 $35,717 $44,706
Net cash used in investing activities of continuing
operations (20,986) (54,010) (30,258) (57,161) (284,953)
Net cash provided by (used in) financing activities
of continuing operations (23,966) (1,976) (12,546) 101,234 300,088
Net cash contributed (from) to continuing
operations (to) from discontinued operations (3,031) 23,361 (10,353) (80,862) (64,466)
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