Print Page  Close Window

SEC Filings

S-4/A
CHARTER COMMUNICATIONS HOLDINGS CAPITAL CORP filed this Form S-4/A on 05/12/1999
Entire Document
 
<PAGE>   50
 
RESULTS OF OPERATIONS
 

<TABLE>
<CAPTION>
                                              YEAR ENDED
                                             DECEMBER 31,
                                           -----------------   1/1/98 TO   12/24/98 TO
                                            1996      1997     12/23/98     12/31/98
                                           -------   -------   ---------   -----------
                                                     (DOLLARS IN THOUSANDS)
<S>                                        <C>       <C>       <C>         <C>
STATEMENT OF OPERATIONS:
Revenues.................................  $14,881   $18,867   $ 49,731      $23,450
                                           -------   -------   --------      -------
Operating expenses:
  Operating, general and
     administrative......................    8,123    11,767     25,952       12,679
  Depreciation and amortization..........    4,593     6,103     16,864       13,811
  Management fees/corporate expense
     charges.............................      446       566      6,176          766
                                           -------   -------   --------      -------
     Total operating expenses............   13,162    18,436     48,992       27,256
                                           -------   -------   --------      -------
Income (loss) from operations............    1,719       431        739       (3,806)
Interest expense.........................   (4,415)   (5,120)   (17,277)      (5,051)
Interest income..........................       20        41         44          133
Other income (expense)...................      (47)       25       (728)          --
                                           -------   -------   --------      -------
Net loss.................................  $(2,723)  $(4,623)  $(17,222)     $(8,724)
                                           =======   =======   ========      =======
</TABLE>

 
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.
 
                                       47