8-K: Current report
Published on July 31, 2008
UNITED
STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section
13 OR 15(d) of The
Securities Exchange
Act of 1934
Date of report
(Date of earliest event reported): July 30, 2008
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GENERAL
COMMUNICATION, INC.
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(Exact name
of registrant as specified in its charter)
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State
of Alaska
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0-15279
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92-0072737
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(State or
other Jurisdiction of
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Commission
File Number
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(I.R.S
Employer
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Incorporation
or organization)
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Identification
No.)
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2550
Denali Street
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Suite
1000
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Anchorage,
Alaska
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99503
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(Address of
Principal Executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (907) 868-5600
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NONE
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(Former name
or former address, if changed since last report)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligations of the registrant under any of the following
provisions:
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o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
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o
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Section
2 - Financial Information
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Item
2.02
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Results
of Operations and Financial
Condition
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On
July 30, 2008, General Communication, Inc. (GCI) issued a press release
announcing earnings for the three and six months ended June 30,
2008. 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 EBITDAS
(Earnings Before Interest, Taxes, Depreciation, Amortization, and Share-based
Compensation Expense) for the three and six months ended June 30, 2008 and 2007
and the three months ended March 31, 2008. EBITDAS has been
reconciled to the closely related GAAP financial measure, Net Income, within the
earnings release.
EBITDAS is the sum of Net Income,
Interest Expense, Loan and Senior Notes Fees, Interest Income, Income Tax
Expense, Depreciation and Amortization Expense, and Share-based Compensation
Expense. EBITDAS is 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 EBITDAS to evaluate the operating
performance of its business, and as a measure of performance for incentive
compensation purposes. GCI believes EBITDAS 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 EBITDAS
is used to estimate current or prospective enterprise value. EBITDAS
does not give effect to cash used for debt service requirements, and thus does
not reflect funds available for investment or other discretionary
uses. EBITDAS as presented herein may not be comparable to similarly
titled measures reported by other companies.
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Section
9 – Financial Statements and
Exhibits
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Item
9.01 Financial Statements and
Exhibits
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(d)
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Exhibits
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Exhibit
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Number
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Description
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99.1 Press
release issued by General Communication, Inc. on July 30, 2008
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.
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GENERAL
COMMUNICATION, INC.
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(Registrant)
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Date: July
31, 2008
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By
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/s/
John M. Lowber
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Name: John M.
Lowber
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Title: Senior
Vice President,
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Chief
Financial Officer,
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Secretary and
Treasurer
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(Principal
Financial Officer)
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