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SEC Filings

S-4/A
AVALON CABLE OF MICHIGAN INC/ filed this Form S-4/A on 07/22/1999
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<PAGE>
 
   As of March 31, 1999, Taconic was being operated as part of Taconic
Technology Corporation. The table below sets forth selected historical data for
Taconic. The historical financial data presented below reflect periods during
which Taconic did not operate as an independent company and, accordingly,
certain allocations were made in preparing such financial data. Therefore, such
data may not reflect the results of operations or the financial condition which
would have resulted if Taconic had operated as a separate independent company
during such periods, and are not necessarily indicative of Taconic's future
results of operations or financial position.
 
            Summary Unaudited Pro Forma Financial and Operating Data
                   For the Three Months Ended March 31, 1999
 

<TABLE>   
<CAPTION>
                             Avalon                 Pro Forma    Unaudited
                          Cable LLC(1) Taconic(2) Adjustments(3) Pro Forma
                          ------------ ---------- -------------- ---------
                                               (dollars in thousands)
<S>                       <C>          <C>        <C>            <C>        <C> <C> <C> <C>
Statement of operations
 data
Revenue.................    $ 24,577     $  523      $    949    $ 26,049
Costs and expenses......      13,034        340           728      14,102
Corporate overhead......         787          6            17         810
Depreciation and
 amortization...........      10,839        105           235      11,179
Non-recurring expenses..         --         --            --          --
                            --------     ------      --------    --------
Operating income (loss).         (83)        72           (31)        (42)
Interest expense, net...     (11,431)       --           (606)    (12,037)
Other income (expense),
 net....................       1,362        (28)       (1,334)        --
                            --------     ------      --------    --------
Net income (loss).......    $(10,152)    $   44      $ (1,971)   $(12,079)
                            ========     ======      ========    ========
Other financial data
Cash flow from
 operations.............    $ 10,599     $   19      $    --     $ 10,618
Cash flows from
 investing activities...     (39,819)       (19)      (12,200)    (52,038)
Cash flows from
 financing activities...      33,159        --            --       33,159
EBITDA(10)..............                                         $ 11,137
Adjusted EBITDA(10).....                                           11,270
Adjusted EBITDA
 margin(11).............                                             43.3%
Ratio of debt to
 adjusted EBITDA(12)....                                              9.8x
Capital expenditures....    $  3,021     $   19      $    --     $  4,288
Ratio of earnings to
 fixed charges..........                    4.0x                      1.0x
Deficiency of earnings
 to fixed charges.......    $     83
Other operating data
 (end of period)
Homes passed(13)........     389,049      7,200         3,900     400,149
Basic subscribers(14)...     236,988      5,000           950     242,938
Basic penetration(15)...        60.9%      69.4%         24.4%       60.7%
Premium units(16).......      60,840      1,200           237      62,277
Premium penetration(17).        25.7%      24.0%         24.9%       25.6%
Average monthly revenue
 per basic
 subscriber(18).........    $  36.08     $34.67      $  28.52    $  34.72
</TABLE>
    
 
 
    (See Notes to Summary Unaudited Pro Forma Financial and Operating Data)
 
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