-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, n5pNLZvu+e4kEgFwcmj+5Vjv3NDgAmZ5vOjNz58VbhbPhLy/BZqscsCh3cbaSe/q Dg+5wR0/dM7dtHBB8EIblw== 0000950123-95-000135.txt : 19950608 0000950123-95-000135.hdr.sgml : 19950608 ACCESSION NUMBER: 0000950123-95-000135 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19941231 FILED AS OF DATE: 19950127 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRICE COMMUNICATIONS CORP CENTRAL INDEX KEY: 0000355787 STANDARD INDUSTRIAL CLASSIFICATION: NEWSPAPERS: PUBLISHING OR PUBLISHING & PRINTING [2711] IRS NUMBER: 132991700 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-08309 FILM NUMBER: 95503570 BUSINESS ADDRESS: STREET 1: 45 ROCKEFELLER PLZ STREET 2: STE 3201 CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 2127575600 MAIL ADDRESS: STREET 1: 45 ROCKEFELLER PLAZA CITY: NEW YORK STATE: NY ZIP: 10020 10-K/A 1 AMENDMENT NO. 1 TO FORM 10-K - PRICE COMMUNICATION 1 CONSOLIDATED OPERATING STATEMENT ITEMS (in thousands, except for per share amounts)
Year Ended December 31(2) ------------------------------------------------------------- Reorganized Company Predecessor Company -------------------- ------------------------------- 1994(1) 1993 1992 1991 1990 ---- ---- ---- ---- ---- Net Revenue $24,039 $22,790 $ 53,957 $48,452 $48,150 Operating Expenses 14,962 16,335 39,567 37,182 37,146 Corporate Expenses 4,475 3,649 4,973 6,123 5,189 Other Expense (Income) - Net (16,245) 539 (35) 12,925 19,535 Interest Expense 813 1,485 17,768 41,473 40,184 Amortization of Debt Discount and Deferred Debt Expense 646 766 1,004 2,039 2,534 Depreciation and Amortization 3,312 2,343 4,873 5,132 4,957 Unrealized Noncash (Recovery) Loss on Marketable Securities(3) - 146 (146) (8,476) 890 Share of Loss of Partially Owned Companies - 1,118 2,934 9,005 9,546 ------- ------- -------- -------- -------- Income (Loss) Before Reorganization Items, Income Taxes, and Extraordinary Items 16,076 (3,591) (16,981) (56,951) (71,831) Reorganization Items - - (5,983) - - ------- ------- -------- -------- -------- Income (Loss) Before Income Taxes and Extraordinary Items 16,076 (3,591) (22,964) (56,951) (71,831) Income Tax (Expense) Benefits (1,652) (124) (499) 327 (591) ------- ------- -------- -------- -------- Income (Loss) Before Extraordinary Items 14,424 (3,715) (23,463) (56,624) (72,422) Extraordinary Items (Net of Income Taxes): Gain on Early Extinguishments of Debt - 2,010 - - 5,287 Gain on Forgiveness of Debt and Partial Sale of Subsidiary - - 312,678 - - ------- ------- -------- -------- -------- Net Income (Loss) $14,424 ($1,705) $289,215 ($56,624) ($67,135) ======= ======= ======== ======== ======== Per Share Amounts(4): Income (loss) Before Extraordinary Items $1.44 ($0.31) Extraordinary Items - 0.17 ----- ----- Net Income (Loss) $1.44 (0.14) ===== =====
(1) Reflects results of operations of WHTM-TV since its acquisition during September 1994 and the results of the properties disposed of through their respective dates of sale. See Notes to 2 and 3 to Consolidated Financial Statements. (2) Due to the acquisition and dispositions discussed under "Business-Recent Developments," the borrowings incurred to effect such acquisition, the retirement of the Company's Secured Notes, the consummation of the Plan of Reorganization and the adoption of Fresh Start Reporting, the Company's historical results should not be regarded as indicative of its future results. (3) See Note 1 of Notes to Consolidated Financial Statements. (4) Per share amounts for the Predecessor Company are neither comparable nor meaningful due to the forgiveness of debt, partial sale of subsidiary, issuance of new common stock and adoption of Fresh Start Reporting. II-3 -----END PRIVACY-ENHANCED MESSAGE-----