Print Page  Close Window

SEC Filings

10-K405
RENAISSANCE MEDIA GROUP LLC filed this Form 10-K405 on 03/31/1999
Entire Document
 
<PAGE>
 

<TABLE>
<CAPTION>
                                                                                            Renaissance
                                                                                            Media Group
                                                                                 Holdings       LLC
                                                                                and Media
                                            Systems (1)                          Combined   Consolidated
                          ---------------------------------------------------- ------------ ------------
                                                                   Period from
                                Year Ended December 31,            January 1--  Year Ended   Year Ended
                          ---------------------------------------   April 8,   December 31, December 31,
                            1994      1995      1996       1997       1998         1997       1998(13)
                          --------  --------  ---------  --------  ----------- ------------ ------------
                                      (dollars in thousands, except per subscriber data)
<S>                       <C>       <C>       <C>        <C>       <C>         <C>          <C>
Statement of Operations
 Data:
 Revenues (2)...........  $ 40,168  $ 43,549  $  47,327  $ 50,987   $ 15,221     $     65    $  41,524
 System operating
  expenses (2)(3).......    18,656    20,787     22,626    23,142      6,952          --        18,998
 Non-system operating
  expenses (4)..........     2,032     2,200      2,733     2,782        785           25        2,039
 Depreciation,
  amortization and loss
  (gain) on disposal of
  fixed assets..........    16,583    17,610     18,116    19,317      4,935          --        19,107
                          --------  --------  ---------  --------   --------     --------    ---------
 Operating income.......     2,897     2,952      3,852     5,746      2,549           40        1,380
                          --------  --------  ---------  --------   --------     --------    ---------
 Interest expense net...   (11,603)  (11,871)       --        --         --             4      (14,200)
 Income tax benefit
  (expense).............     3,482     3,567     (1,502)   (2,262)    (1,191)         --          (135)
                          --------  --------  ---------  --------   --------     --------    ---------
 Net (loss) income......  $ (5,224) $ (5,352) $   2,350  $  3,484   $  1,358     $     36    $ (12,955)
                          ========  ========  =========  ========   ========     ========    =========
Balance Sheet Data (at
 period end):
 Cash and cash
  equivalents...........  $    419  $    566  $     570  $  1,371   $      7     $    903    $   8,482
 Property, plant and
  equipment, net........    34,739    34,426     36,966    36,944     35,992          --        63,952
 Total assets...........   142,316   132,905    300,049   288,914    282,943       17,003      315,750
 Total debt.............   130,068   128,328        --        --         --           --       209,874
 Net (liabilities)
  assets................  $(48,939) $(54,292) $ 237,475  $224,546   $218,154     $ 15,036    $  95,621
Other Financial Data:
 Net cash provided by
  operations............  $  8,019  $  7,523  $  23,088  $ 23,604   $  6,999     $    (97)   $  22,696
 Net cash (used in)
  investing activities..   ( 9,964)   (7,376)  (257,643)  ( 6,390)      (613)     (15,000)    (317,036)
 Net cash provided by
  (used in) financing
  activities............     2,041       -0-    235,125   (16,413)    (7,750)      16,000      302,822
 EBITDA (5).............    19,480    20,562     21,968    25,063      7,484           40       20,487
 System cash flow (6)...    21,512    22,762     24,701    27,845      8,269          --        22,526
 Capital expenditures...  $  9,152  $  7,376  $   8,170  $  6,390   $    613          --     $   5,683
 EBITDA margin (2)......      48.5%     47.2%      46.4%     49.2%      49.2%        61.5%        49.3%
 Ratio of earnings to
  fixed charges(7)......       --        --         --        --         --           --           --
Other Data:
 Homes passed (at period
  end)(8)...............   143,248   145,148    175,522   178,449    179,402          N/A      185,620
 Basic subscribers (at
  period end)              115,075   120,340    123,203   126,558    127,191          N/A      129,164
 Basic penetration (at
  period end)(8)........      80.3%     82.9%      70.2%     70.9%      70.9%         N/A         69.6%
 Premium units (at
  period end)...........    62,434    60,462     64,716    64,963     61,053          N/A       58,712
 Premium penetration (at
  period end)...........      54.3%     50.2%      52.5%     51.3%      48.0%                     45.5%
 Average monthly revenue
  per basic
  subscriber(9).........  $  29.87  $  30.83  $   32.39  $  34.02   $  36.73          N/A    $   37.24
 Annual EBITDA per basic
  subscriber(10)........  $ 173.85  $ 174.69  $  180.40  $ 200.70   $ 216.69          N/A    $  220.46
 Annual system cash flow
  per basic
  subscriber(11)........  $ 191.98  $ 193.38  $  202.85  $ 222.97   $ 239.42          N/A    $  242.40
 Annual capital
  expenditures per basic
  subscriber(12)........  $  81.68  $  62.66  $   67.09  $  51.17   $  17.75          N/A    $   61.15
</TABLE>

- --------
(1)   Prior to January 4, 1996, the Systems were owned by certain subsidiaries
      of CVI, and for the period January 4, 1996 through April 8, 1998, the
      Systems were owned by Time Warner. Financial statements of the Systems
      presented in this annual report for periods prior to April 9, 1998 in

      Item 8 are referred to as financial statements of the "Predecessor".
 
 
                                      25