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SEC Filings

S-4/A
AVALON CABLE OF MICHIGAN INC/ filed this Form S-4/A on 05/28/1999
Entire Document
 
<PAGE>

             UNAUDITED PRO FORMA COMBINED STATEMENTS OF OPERATIONS

                   For Three Months Ended March 31, 1999


<TABLE>
<CAPTION>
                                                   Less:
                                              Duplicate period
                                      Avalon    consolidated    Probable                   Unaudited
                           Michigan   Cable    into Michigan   Transaction   Pro Forma     Pro Forma
                          Holdings(1) LLC(2)    Holdings(3)    Taconic(4)  Adjustments(5)  Combined
                          ----------- ------  ---------------- ----------- --------------  ---------
                                                     (dollars in thousands)
<S>                       <C>         <C>     <C>              <C>         <C>             <C>        <C>
Revenues................   $ 22,367   $3,551      $(1,342)        $523        $   949(a)   $ 26,048
Operating expenses......     12,129    1,657         (377)         340            728(a)     14,477
Corporate overhead......        376      411         (376)           6             17(a)        434
Depreciation and
 amortization...........     10,126    1,310         (597)         105            235(b)     11,179
Non-recurring expenses..        --       --           --           --             --            --
                           --------   ------      -------         ----        -------      --------
Operating (loss) income.       (264)     173            8           72            (31)          (42)
Interest expense, net...    (11,518)    (472)         558          --             (11)(c)   (11,443)
Other income (expense),
 net....................      4,350      --           --           (28)        (4,322)(d)       --
                           --------   ------      -------         ----        -------      --------
Net (loss) income.......   $ (7,432)  $ (299)     $   566         $ 44        $(4,364)     $(11,485)
                           ========   ======      =======         ====        =======      ========
</TABLE>


           UNAUDITED PRO FORMA COMBINED STATEMENTS OF OPERATIONS

                     For Year Ended December 31, 1998


<TABLE>
<CAPTION>
                                          Avalon                                     Probable                       Unaudited
                   Michigan      Cable     Cable   Avalon New                       Transaction    Pro Forma        Pro Forma
                  Holdings(6) Michigan(7) LLC(8)   England(9) Amrac(10) Pegasus(11) Taconic(12) Adjustments(13)     Combined
                  ----------- ----------- -------  ---------- --------- ----------- ----------- ---------------     ---------
                                             (dollars in thousands)
<S>               <C>         <C>         <C>      <C>        <C>       <C>         <C>         <C>                 <C>
Revenues........    $13,657    $ 74,521   $ 1,299    $3,231     $779      $3,277      $2,086       $  6,061 (a)     $104,911
Operating
 expenses.......      7,469      38,621       761     1,838      443       1,693       1,378          4,036 (a)       56,239
Corporate
 overhead.......        249       6,087        56       350       42          97          22             97 (a)        7,000
Depreciation and
 amortization...      6,614      28,098       440     1,129       47         835         426          7,239 (b)       44,828
Non-recurring
 expenses.......        --        5,764       --        --       --          --          --             --             5,764
                    -------    --------   -------    ------     ----      ------      ------       --------         --------
Operating (loss)
 income.........       (675)     (4,049)       42       (86)     247         652         260         (5,311)          (8,920)
Interest
 expense, net...     (6,784)     (7,382)     (785)     (503)     --         (938)        (17)       (29,120)(c)      (45,529)
Other income
 (expense), net.       (769)        897    (1,311)      --       --          (22)        (97)        (2,280)(d)(e)    (3,582)
                    -------    --------   -------    ------     ----      ------      ------       --------         --------
Net (loss)
 income.........    $(8,228)   $(10,534)  $(2,054)   $ (589)    $247      $ (308)     $  146       $(36,711)        $(58,031)
                    =======    ========   =======    ======     ====      ======      ======       ========         ========
</TABLE>



      (See Notes to Unaudited Pro Forma Combined Statements of Operations)

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