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S-4/A
AVALON CABLE OF MICHIGAN INC/ filed this Form S-4/A on 07/22/1999
Entire Document
 
<PAGE>
 
            Summary Unaudited Pro Forma Financial and Operating Data
                      For the Year Ended December 31, 1998
 

<TABLE>   
<CAPTION>
                           Avalon
                            Cable       Cable                                     Pro Forma    Unaudited
                           LLC(5)    Michigan(4) Amrac(6) Pegasus(7) Taconic(8) Adjustments(9) Pro Forma
                          ---------  ----------- -------- ---------- ---------- -------------- ---------
                                                       (dollars in thousands)
<S>                       <C>        <C>         <C>      <C>        <C>        <C>            <C>        <C>
Statement of operations
 data
Revenue.................  $  18,187   $ 74,521    $ 779     $3,277     $2,086      $  6,061     $104,911
Costs and expenses......     10,067     38,621      443      1,693      1,378         4,036       56,238
Corporate overhead......        655      6,087       42         97         22            97        7,000
Depreciation and
 amortization...........      8,183     28,098       47        835        426         7,239       44,828
Non-recurring expenses..        --       5,764      --         --         --            --         5,764
                          ---------   --------    -----     ------     ------      --------    ---------
Operating income (loss).       (718)    (4,049)     247        652        260        (5,311)      (8,919)
Interest expense, net...     (8,050)    (7,382)     --        (938)       (17)      (29,120)     (45,507)
Other income (expense),
 net....................     (6,614)       897      --         (22)       (97)       (1,807)      (7,643)
                          ---------   --------    -----     ------     ------      --------    ---------
Net income (loss).......  $ (15,382)  $(10,534)   $ 247     $ (308)    $  146      $(36,238)   $ (62,069)
                          =========   ========    =====     ======     ======      ========    =========
Other financial data
Cash flow from
 operations.............  $   7,296   $ 15,028    $ 276     $1,705     $  104      $ (7,454)   $  16,955
Cash flows from
 investing activities...   (565,870)   (18,697)     (61)      (117)       (81)      (32,116)    (616,942)
Cash flows from
 financing activities...    567,862     (7,457)    (561)      (971)       (23)       30,342      589,192
EBITDA(10)..............                                                                       $  28,266
Adjusted EBITDA(10).....                                                                          48,719
Adjusted EBITDA
 margin(11).............                                                                            46.4%
Ratio of debt to
 adjusted EBITDA(12)....                                                                             9.1x
Capital expenditures....  $  11,468   $ 18,697    $  61     $  114     $   81      $    165    $  30,586
Ratio of earnings of
 fixed charges..........        --         --      44.4x       --         3.4x          --           --
Deficiency of earnings
 to fixed charges.......  $     718   $ 12,368      --      $  303                             $   8,919
Other operating data
 (end of period)
Homes passed(13)........    377,512                                     7,200        18,864      403,576
Basic subscribers(14)...    232,141                                     5,100        10,084      247,325
Basic penetration(15)...       61.5%                                     70.8%         53.5%        61.3%
Premium units(16).......     60,462                                     1,225         2,513       64,200
Premium penetration(17).       26.0%                                     24.0%         24.9%        26.0%
Average monthly revenue
 per basic
 subscriber(18).........  $   34.89                                    $34.67      $  28.52    $   34.57
</TABLE>
    
 
    (See Notes to Summary Unaudited Pro Forma Financial and Operating Data)
 
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