GENERAL COMMUNICATION, INC. (NASDAQ:GNCMA) Files An 8-K Results of Operations and Financial Condition
Item 2.02
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Results of Operations and Financial Condition
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press release announcing earnings for the three months ended March
31, 2017. A copy of the press release is attached as Exhibit 99.1.
shall not be deemed “filed” for purposes of Section 18 of the
Securities Act of 1934, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933, except as
shall be expressly set forth by specific reference in such filing.
non-GAAP financial measure of Adjusted EBITDA (defined as earnings
plus imputed interest on financed devices before net interest
expense, income taxes, depreciation and amortization expense, loss
on extinguishment of debt, derivative instrument unrealized income
(loss), share-based compensation expense, accretion expense, loss
attributable to non-controlling interest resulting from NMTC
transactions, gains and impairment losses on equity and cost method
investments, and other non-cash adjustments) and Pro Forma EBITDA
(defined as Adjusted EBITDA plus Liberty transaction costs) for the
three months ended March 31, 2017 and 2016 and December 31, 2016.
Adjusted EBITDA and Pro Forma EBITDA have been reconciled to the
closely related GAAP financial measure, net income (loss), within
the earnings release.>
alternative measure of net income, operating income or cash flow
from operations, as determined in accordance with accounting
principles generally accepted in the United States of America.
GCI’s management uses Adjusted EBITDA and Pro Forma EBITDA to
evaluate the operating performance of its business, and as a
measure of performance for incentive compensation purposes. GCI
believes Adjusted EBITDA and Pro Forma EBITDA are useful to
investors and other users of our financial information in
understanding and evaluating operating performance as an
analytical indicator of income generated to service debt and fund
capital expenditures. In addition, multiples of current or
projected Adjusted EBITDA and Pro Forma EBITDA are used to
estimate current or prospective enterprise value. Adjusted EBITDA
and Pro Forma EBITDA do not give effect to cash used for debt
service requirements, and thus do not reflect funds available for
investment or other discretionary uses. Adjusted EBITDA and Pro
Forma EBITDA as presented herein may not be comparable to
similarly titled measures reported by other companies.>
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Item 9.01
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Financial Statements and Exhibits
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(d) Exhibits
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Exhibit
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Number
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Description
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99.1
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Press Release issued by General Communication, Inc. on
May 3, 2017 |
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About GENERAL COMMUNICATION, INC. (NASDAQ:GNCMA)
General Communication, Inc. is a holding company. The Company, together with its subsidiaries, is a diversified communications provider with operations primarily in the State of Alaska. The Company provides a range of wireless, data, video, voice, and managed services to residential customers, businesses, governmental entities, and educational and medical institutions primarily in Alaska under its GCI brand. The Company operates in two segments: Wireless and Wireline. The Company’s Wireless segment provides wholesale wireless services to wireless carriers. The Company’s Wireline segment offers services and products under three major customer groups, such as consumer, business services and managed broadband. Its fiber network employs digital transmission technology over its fiber optic facilities, which include digital undersea fiber optic cable systems linking its Alaska terrestrial networks to the networks of other carriers. GENERAL COMMUNICATION, INC. (NASDAQ:GNCMA) Recent Trading Information
GENERAL COMMUNICATION, INC. (NASDAQ:GNCMA) closed its last trading session down -0.27 at 35.96 with 474,119 shares trading hands.
