FairPoint Communications 2011 Annual Report Download - page 50
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Table of Contents
Because the Verizon Northern New England business had been operating as the LEC of Verizon in Maine, New Hampshire and Vermont, and not as a
standalone telecommunications provider, we operated under the Transition Services Agreement for the one month ended January 2009, under which we
incurred $15.9 million of expenses. Subsequent to January 30, 2009, we performed those services internally or obtained them from third-party service
providers and not from Verizon.
The following table sets forth the percentages of revenues represented by selected items reflected in our consolidated statements of operations. The year-to-
year comparisons of financial results are not necessarily indicative of future results (in thousands, except percentage of revenues data):
Revenues $963,112 $66,378 $1,029,490 100% $1,070,986 100%
Operating expenses:
Costs of services and sales 438,619 38,766 477,385 46 525,728 49
Selling, general and administrative 332,020 27,161 359,181 35 365,373 34
Depreciation and amortization 336,891 21,515 358,406 35 289,824 27
Reorganization related (income) expense (232) — (232) — — —
Impairment of intangible assets and goodwill 262,019 — 262,019 26 — —
Total operating expenses 1,369,317 87,442 1,456,759 142 1,180,925 110
Loss from operations (406,205) (21,064) (427,269) (42) (109,939) (10)
Interest expense (63,807) (9,321) (73,128) (6) (140,896) (13)
Other income (expense) 1,791 (132) 1,659 — 2,715 —
Loss before reorganization items and income taxes (468,221) (30,517) (498,738) (48) (248,120) (23)
Reorganization items — 897,313 897,313 87 (41,120) (4)
(Loss) income before income taxes (468,221) 866,796 398,575 39 (289,240) (27)
Income tax benefit (expense) 53,276 (279,889) (226,613) (22) 7,661 1
Net (loss) income $(414,945) $586,907 $171,962 17% $(281,579) (26)%
47