FairPoint Communications 2010 Annual Report Download - page 125
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Table of Contents
For the quarters ended March 31, and June 30, 2010, the Company has reclassified certain prior period amounts in the interim consolidated financial
statements to be consistent with current period presentation. These reclassifications were made to correct the classification of PAP penalties from selling,
general and administrative expenses to contra-revenue and to correct the allocation of certain employee and general computer expenses between cost of services
and selling, general and administrative expenses. Correction of these classification errors resulted in decreases of $0.8 million and $0.1 million to revenue, a
decrease of $0.2 million and an increase of $2.4 million to cost of services, and decreases of $0.6 million and $2.5 million to selling, general and
administrative expenses for the three month periods ended March 31, and June 30, 2010, respectively. Correction of these classification errors had no impact
on loss from operations or net loss.
The revisions applied to the individual line items in the interim consolidated income statements are summarized as follows:
Operating expenses:
Cost of services and sales, excluding depreciation and amortization 130,435 7,034 137,469
Selling, general and administrative expense, excluding depreciation and amortization 94,483 (899) 93,584
Depreciation and amortization 70,345 1,037 71,382
Other income (expense):
Interest expense (34,630) — (34,630)
Other income, net 26 — 26
Total other expense (34,604) — (34,604)
Reorganization items (16,591) — (16,591)
Income tax expense (3,501) — (3,501)
Weighted average shares outstanding:
Basic 89,424 — 89,424
Diluted 89,424 — 89,424
Loss per share:
Basic $ (0.85) $ (0.12) $ (0.97)
Diluted $ (0.85) $ (0.12) $ (0.97)
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