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SEC Filings

S-4/A
CHARTER COMMUNICATIONS HOLDINGS CAPITAL CORP filed this Form S-4/A on 06/22/1999
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<PAGE>   56
 
RESULTS OF OPERATIONS
 
   
     The following discussion concerns the financial condition and results of
operations for
    
 
   
     (1) Charter Holdings (comprised of Charter Properties only) for the period
         from January 1, 1998 through December 23, 1998, for the period from
         January 1, 1998 through March 31, 1998 and for the years ended December
         31, 1997 and 1996 and
    
 
   
     (2) Charter Holdings (comprised of Charter Properties, CCA Group,
         CharterComm Holdings and Marcus Holdings) for the period from January
         1, 1999 through March 31, 1999 and for the period from December 24,
         1998 through December 31, 1998.
    
 
   
     The following table sets forth the percentages that items in the statements
of income bear to operating revenues for the indicated periods.
    
   

<TABLE>
<CAPTION>
                                                 YEAR ENDED
                                                DECEMBER 31,
                        -------------------------------------------------------------           1/1/98 THROUGH
                                    1996                            1997                           12/23/98
                        -----------------------------   -----------------------------   -------------------------------
                                                            (DOLLARS IN THOUSANDS)
<S>                     <C>             <C>             <C>             <C>             <C>               <C>
STATEMENT OF OPERATIONS
Revenues..............  $      14,881          100.0%   $      18,867          100.0%   $        49,731          100.0%
Operating expenses
  Operating costs.....          5,888           39.6%           9,157           48.5%            18,751           37.7%
  General and
    administrative
    costs.............          2,235           15.0%           2,610           13.8%             7,201           14.5%
  Depreciation and
    amortization......          4,593           30.9%           6,103           32.3%            16,864           33.9%
  Management fees/
    corporate expense
    charges...........            446            3.0%             566            3.0%             6,176           12.4%
                        -------------   -------------   -------------   -------------   ---------------   -------------
  Total operating
    expenses..........         13,162           88.4%          18,436           97.7%            48,992           98.5%
                        -------------   -------------   -------------   -------------   ---------------   -------------
Income (loss) from
  operations..........          1,719           11.6%             431            2.3%               739            1.5%
Interest income.......             20            0.1%              41            0.2%                44            0.1%
Interest expense......         (4,415)         (29.7%)         (5,120)         (27.1%)          (17,277)         (34.7%)
Other income
  (expense)...........            (47)          (0.3%)             25            0.1%              (728)          (1.5%)
                        -------------   -------------   -------------   -------------   ---------------   -------------
Net loss..............  $      (2,723)         (18.3%)  $      (4,623)         (24.5%)  $       (17,222)         (34.6%)
                        =============   =============   =============   =============   ===============   =============
 
<CAPTION>
 
                                                                              THREE MONTHS ENDED
                              12/24/98 THROUGH          ---------------------------------------------------------------
                                  12/31/98                          3/31/99                          3/31/98
                        -----------------------------   -------------------------------   -----------------------------
<S>                     <C>             <C>             <C>               <C>             <C>             <C>
STATEMENT OF OPERATION
Revenues..............  $      23,450          100.0%   $       286,135          100.0%   $       4,782         100.00%
Operating expenses
  Operating costs.....          9,957           42.5%            86,650           30.3%           1,583           33.1%
  General and
    administrative
    costs.............          2,722           11.6%            65,425           22.9%           1,055           22.1%
  Depreciation and
    amortization......         13,811           58.9%           153,747           53.7%           1,605           33.6%
  Management fees/
    corporate expense
    charges...........            766            3.3%             5,323            1.9%             143            3.0%
                        -------------   -------------   ---------------   -------------   -------------   -------------
  Total operating
    expenses..........         27,256          116.2%           311,145          108.7%           4,386           91.7%
                        -------------   -------------   ---------------   -------------   -------------   -------------
Income (loss) from
  operations..........         (3,806)         (16.2%)          (25,010)          (8.7%)            396            8.3%
Interest income.......            133            0.6%             1,733            0.6%               8            0.2%
Interest expense......         (5,051)         (21.5%)          (71,591)         (25.0%)         (1,329)         (27.8%)
Other income
  (expense)...........             --              --             3,619            1.3%               2            0.0%
                        -------------   -------------   ---------------   -------------   -------------   -------------
Net loss..............  $      (8,724)         (37.2%)  $       (91,249)         (31.9%)  $        (923)         (19.3%)
                        =============   =============   ===============   =============   =============   =============
</TABLE>

    
 
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