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SEC Filings

S-4
CHARTER COMMUNICATIONS HOLDINGS CAPITAL CORP filed this Form S-4 on 04/30/1999
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<PAGE>   53
 
PERIOD FROM DECEMBER 24, 1998, THROUGH DECEMBER 31, 1998
 
     This period is not comparable to any other period presented. The financial
statements represent eight days of operations. This period not only contains the
results of operations of CCP, but also the results of operations of those
entities purchased as part of the Charter Acquisition and the acquisition of
Marcus. As a result, no comparison of the operating results for this eight-day
period is presented.
 
PERIOD FROM JANUARY 1, 1998 THROUGH DECEMBER 23, 1998
COMPARED TO 1997
 
     REVENUES.  Revenues increased by $30.8 million, or 163.6%, from $18.9
million in 1997 to $49.7 million for the period from January 1, 1998 through
December 23, 1998. The increase in revenues primarily resulted from the Sonic
Acquisition.
 
     Revenues of CCP, excluding the activity of any other systems acquired or
disposed of during the periods, increased by $0.3 million, or 1.6%, from $18.5
million in 1997 to $18.8 million for the period from January 1, 1998 through
December 23, 1998.
 
     OPERATING, GENERAL AND ADMINISTRATIVE EXPENSES.  Operating, general and
administrative expenses increased by $14.2 million, or 120.5%, from $11.8
million in 1997 to $26.0 million for the period from January 1, 1998 through
December 23, 1998. This increase was due primarily to the Sonic Acquisition
offset by the loss of $1.3 million on the sale of a cable system in 1997.
 
     DEPRECIATION AND AMORTIZATION.  Depreciation and amortization expense
increased by $10.8 million, or 176.3%, from $6.1 million in 1997 to $16.9
million for the period from January 1, 1998 through December 23, 1998. There was
a significant increase in amortization resulting from the Sonic Acquisition.
 
     CORPORATE EXPENSE CHARGES  Corporate expense charges increased by $5.6
million, or 991.2% from $0.6 million in 1997 to $6.2 million for the period from
January 1, 1998 through December 23, 1998. The increase from 1997 compared to
the period from January 1, 1998 through December 23, 1998 was the result of
additional CCI charges related to the Charter Appreciation Rights Plan of $3.8
million for the period from January 1, 1998 through December 23, 1998 and an
increase in management services provided by CCI as a result of the Sonic
Acquisition.
 
     INTEREST EXPENSE.  Interest expense increased by $12.2 million, or 237.4%,
from $5.1 million in 1997 to $17.3 million for the period from January 1, 1998
through December 23, 1998. This increase resulted primarily from the additional
indebtedness incurred in connection with the Sonic Acquisition.
 
     NET LOSS.  Net loss increased by $12.6 million, or 272.5%, from $4.6
million in 1997 to $17.2 million for the period from January 1, 1998 through
December 23, 1998.
 
     The increase in revenues that resulted from cable television customer
growth was not sufficient to offset the significant costs related to the Sonic
Acquisition, resulting in a substantial increase in interest expense due to
increased borrowings.
 
1997 COMPARED TO 1996
 
     REVENUES.  Revenues increased by $4.0 million, or 26.8%, from $14.9 million
in 1996 to $18.9 million in 1997.
 
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