8-K: Current report
Published on July 31, 2003
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): July 30, 2003
GENERAL COMMUNICATION, INC.
(Exact Name of Registrant as Specified in its Charter)
Alaska 0-15279 92-0072737
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification
Incorporation) Number)
2550 Denali Street Suite 1000 Anchorage, Alaska 99503
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (907) 265-5600
NONE
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(Former Name or Former Address, if Changed Since Last Report)
Item 7. Financial Statements and Exhibit.
(a) Financial statements of businesses acquired: None
(b) Pro forma financial information: None
(c) Exhibit:
This exhibit is furnished pursuant to Item 12 hereof and should
not be deemed to be "filed" under the Securities Exchange Act of
1934.
99.1 Press release dated July 30, 2003
Item 12. Results of Operations and Financial Condition.
On July 30, 2003, General Communication, Inc. (GCI) issued a
press release announcing second quarter 2003 financial results. A
copy of the press release is attached as Exhibit 99.1.
The information in this Form 8-K and the Exhibit attached
hereto are being furnished pursuant to Item 12 of Form 8-K and 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 or the Securities Act of
1934, 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 EBITDA (Earnings Before Interest,
Taxes, Depreciation, Amortization and Accretion). EBITDA has been
reconciled to the closely related GAAP financial measure, Net Income
(Loss), within the earnings release.
EBITDA is the sum of Net Income (Loss), Net Other Expense,
Taxes, and Depreciation, Amortization and Accretion. EBITDA is not
presented as an alternative measure of Net Income (Loss) as
determined in accordance with Generally Accepted Accounting
Principles. GCI's management uses EBITDA to evaluate the operating
performance of its business, and as a measure of performance for
incentive compensation purposes. GCI believes EBITDA is a measure
used as an analytical indicator of income generated to service debt
and fund capital expenditures. In addition, multiples of current or
projected EBITDA are used to estimate current or prospective
enterprise value. 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. EBITDA as presented herein
may not be comparable to similarly titled measures reported by other
companies.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENERAL COMMUNICATION, INC.
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(Registrant)
Date: July 31, 2003
By /s/ John M. Lowber
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Name: John M. Lowber
Title: Senior Vice President,
Chief Financial Officer,
Secretary and Treasurer
(Principal Financial Officer)
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release of General Communication, Inc., dated
July 30, 2003.