GENERAL COMMUNICATION, INC. (NASDAQ:GNCMA) Files An 8-K Results of Operations and Financial Condition
Item 2.02

Results of Operations and Financial Condition

On August2, 2017, General Communication, Inc. ("GCI") issued a press release announcing earnings for the three and six months ended June 30, 2017. A copy of the press release is attached as Exhibit 99.1.

The information in this Form 8-K and the Exhibit attached hereto 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.

The earnings release attached as Exhibit 99.1 discloses the 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 and six months ended June 30, 2017 and 2016 and the three months ended March 31, 2017. Adjusted EBITDA and Pro Forma EBITDA have been reconciled to the closely related GAAP financial measure, net income (loss), within the earnings release.

Adjusted EBITDA and Pro Forma EBITDA are not presented as an 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.

Section 9 – Financial Statements and Exhibits

GENERAL COMMUNICATION INC Exhibit
EX-99.1 2 form8k08022017exhibit99-1.htm EXHIBIT 99.1 Exhibit     Exhibit 99.1                     GCI REPORTS SECOND QUARTER 2017 FINANCIAL RESULTSNet Loss of $9 millionConsolidated Revenue of $224 millionPro Forma EBITDA of $75 millionAugust 2,…
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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.