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 and year
ended December 31, 2016. 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, software impairment charge, 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, gain recorded for
adjusting to fair value assets that were included as consideration
paid to acquire a fiber system, and other non-cash adjustments) for
the three months and years ended December 31, 2016 and 2015, and
the three months ended September 30, 2016. Adjusted EBITDA has been
reconciled to the closely related GAAP financial measure, net
income (loss), within the earnings release.>
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 to evaluate the operating performance of its
business, and as a measure of performance for incentive
compensation purposes. GCI believes Adjusted EBITDA is 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 are used to estimate current or
prospective enterprise value. Adjusted EBITDA does not give
effect to cash used for debt service requirements, and thus does
not reflect funds available for investment or other discretionary
uses. Adjusted 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
March 1, 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 -1.45 at 19.70 with 293,822 shares trading hands.