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SEC Filings

S-1/A
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1/A on 11/04/1999
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<PAGE>   596
 
            AVALON CABLE OF MICHIGAN HOLDINGS, INC. AND SUBSIDIARIES
 
                      CONSOLIDATED STATEMENT OF OPERATIONS
 

<TABLE>
<CAPTION>
                                                           FOR THE SIX MONTHS    FOR THE SIX MONTHS
                                                                 ENDED                 ENDED
                                                             JUNE 30, 1999         JUNE 30, 1998
                                                           ------------------    ------------------
                                                                         (UNAUDITED)
                                                                        (IN THOUSANDS)
<S>                                                        <C>                   <C>
REVENUE
Basic services...........................................       $ 42,064              $    131
Premium services.........................................          4,079                    15
Other....................................................          5,626                     8
                                                                --------              --------
Total Revenue............................................         51,769                   154
Operating expenses
Selling, general and administrative......................          9,544                    21
Programming..............................................         13,966                    39
Technical and operations.................................          5,932                    17
Depreciation and amortization............................         22,096                    53
                                                                --------              --------
Income from operations...................................            231                    24
Interest income..........................................            708                    --
Interest expense.........................................        (23,246)                   (5)
                                                                --------              --------
Income loss before income taxes..........................        (22,307)                   19
Benefit from income taxes................................         10,180                    --
                                                                --------              --------
Income (loss) before minority interest...................        (12,127)                   19
Minority interest in loss of consolidated entity.........          2,354                    --
                                                                --------              --------
Net income (loss)........................................       $ (9,773)             $     19
                                                                ========              ========
</TABLE>

 
   The accompanying notes are an integral part of these financial statements
                                      F-349