iHeartMedia 2000 Annual Report Download - page 83

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83
billion and $1.2 billion derived from the Company’ s foreign operations are included in the data above for
the years ended December 31, 2000, 1999 and 1998, respectively.
NOTE N - QUARTERLY RESULTS OF OPERATIONS (Unaudited)
(In thousands, except per share data)
March 31, June 30, September 30, December 31,
2000 1999 2000 1999 2000 1999 2000 1999
Gross revenue $871,375$ 421,607 $ 1,078,642 $ 696,130 $ 1,684,787 $ 887,854 $ 2,213,096 $ 986,427
Net revenue 782,539 $ 376,787 $ 965,875 $ 617,691 $ 1,576,719 $ 796,157 $ 2,020,173 $ 887,525
Operating expenses 519,961 244,822 562,729 356,549 1,062,284 495,800 1,335,732 534,944
Non-cash compensation 3,151 12,881
Depreciation and amortization 220,054 110,648 228,687 154,379 372,059 208,627 580,263 248,579
Corporate expenses 24,578 12,447 27,867 15,884 39,417 16,254 50,765 25,561
Operating income 17,946 8,870 146,592 90,879 99,808 75,476 40,532 78,441
Interest expense 55,549 30,731 69,911 44,949 105,335 50,962 152,309 52,762
Gain (loss) on sale of assets
related to mergers 136,925 805,183 (21,440) 1,734
Equity in earnings of
nonconsolidated affiliates 2,936 2,196 6,667 1,620 8,433 2,925 7,119 11,442
Other income (expenses) 398 9,818 1,226 1,987 (8,964) (2,221) (9,793) (2,292)
Income (loss) before income
taxes and extraordinary items (34,269) (9,847) 84,574 186,462 799,125 25,218 (135,891) 36,563
Income taxes (1) 5,133 2,889 53,339 79,962 350,198 23,695 56,061 46,195
Income (loss) before
extraordinary item (39,402) (12,736) 31,235 106,500 448,927 1,523 (191,952) (9,632)
Extraordinary item — — — — — — — (13,185)
Net income (loss) $ (39,402) $ (12,736) $ 31,235 $ 106,500 $ 448,927 $ 1,523 $ (191,952) $(22,817)
Net income (loss) per
common share:
Basic:
Income (loss) before
extraordinary item $ (.12) $ (.05) $ .09 $ .35 $ 1.04 $ .00 $ (.33) $ (.03)
Extraordinary item — — — — — — — (.04)
Net income (loss) $ (.12) $ (.05) $ .09 $ .35 $ 1.04 $ .00 $ (.33) $ (.07)
Diluted:
Income (loss) before
extraordinary item $ (.12) $ (.05) $ .09 $ .33 $ .96 $ .00 $ (.33) $ (.03)
Extraordinary item — — — — — — — (.04)
Net income (loss) $ (.12) $ (.05) $ .09 $ .33 $ .96 $ .00 $ (.33) $ (.07)
Stock price:
High $95.5000 $68.1875 $83.0000 $74.3750 $85.8125 $80.8125 $61.0000 $91.5000
Low 60.0000 52.0000 62.0625 64.2500 54.7500 60.7500 43.8750 68.5000
(1) Income tax expense in the quarters ended September 30, 2000 and December 31, 2000 includes
estimated taxes related to divestiture gains.
The Company's Common Stock is traded on the New York Stock Exchange under the symbol CCU.