-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HuWjA3QuwUbTwMvDdQhmy2ZUpKTh/T+iMAY+PM35DB6IfrSf1kEp/1tPr/MCvNqM JfcHA6yna+5We/N/MbuoUw== 0000927356-98-001547.txt : 19980922 0000927356-98-001547.hdr.sgml : 19980922 ACCESSION NUMBER: 0000927356-98-001547 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980630 FILED AS OF DATE: 19980921 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMMNET CELLULAR INC CENTRAL INDEX KEY: 0000787912 STANDARD INDUSTRIAL CLASSIFICATION: RADIO TELEPHONE COMMUNICATIONS [4812] IRS NUMBER: 840924904 STATE OF INCORPORATION: CO FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: SEC FILE NUMBER: 000-15056 FILM NUMBER: 98712256 BUSINESS ADDRESS: STREET 1: 8350 EAST CRESCENT PARKWAY SUITE 400 CITY: ENGLEWOOD STATE: CO ZIP: 80111 BUSINESS PHONE: 3036943234 MAIL ADDRESS: STREET 1: 8350 EAST CRESCENT PKWY STREET 2: STE 400 CITY: ENGLEWOOD STATE: CO ZIP: 80111 FORMER COMPANY: FORMER CONFORMED NAME: CELLULAR INC DATE OF NAME CHANGE: 19920703 10-Q/A 1 AMENDMENT #1 TO SECOND QUARTER 10-Q FORM 10-Q/A No.1 ------- _______________ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________ (Mark one) [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 1998 ------------- [_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number: 0-15056 ------- COMMNET CELLULAR INC. --------------------- (Exact name of registrant as specified in its charter) Colorado 84-0924904 -------- ---------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 8350 East Crescent Parkway, Suite 400 Englewood, Colorado 80111 ------------------------- (Address of principal executive offices) (Zip Code) 303/694-3234 ------------ (Registrant's telephone number, including area code) N/A --- (Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No --------- --------- The number of shares of the registrant's Common Stock outstanding as of August 7, 1998 was 22,644,690. 10 Supplemental Information: SELECTED COMBINED AND PROPORTIONATE OPERATING RESULTS OF CELLULAR LICENSEES The following table presents operating data for all cellular licensees in which the Company holds an interest. The "Combined," "Financed Proportionate" and "Company Proportionate" operating results, which are not included in the Company's consolidated financial statements, are provided to assist in understanding the results of the licensees in which the Company holds an interest. Generally accepted accounting principles ("GAAP") prescribe inclusion of revenues and expenses for consolidated interests (generally interests of more than 50%), but not for equity interests (generally interests of 20% to 50%) or cost interests (generally interests of less than 20%). Equity accounting ordinarily results in the same net income as consolidation; however, the net operating results are reflected on one line below operating income. Operating activity related to interests accounted for under the cost method are not reflected at all in a GAAP operating statement.
Nine Months ended June 30, ------------------------------------------------------------------------------- 1998 1997 1998 1997 1998 1997 -------------------------- -------------------------- ------------------------- Combined (1) Financed Proportionate (2) Company Proportionate (3) -------------------------- -------------------------- ------------------------- MANAGED MARKETS Revenues: Cellular service $101,469 $ 91,466 $ 91,379 $ 84,887 $ 76,156 $ 69,323 In-roaming 34,737 28,414 31,247 26,292 26,745 21,876 Equipment sales 2,450 2,803 2,221 2,615 1,911 2,273 -------- -------- -------- -------- -------- -------- Total revenues 138,656 122,683 124,847 113,794 104,812 93,472 Costs and expenses involving cash: Cost of sales: Cellular service (including in-roaming) 18,354 21,829 16,871 20,558 14,060 17,031 Equipment sales 12,661 10,515 11,438 9,726 9,692 8,323 General and administrative (4) 29,975 26,103 52,907 (5) 24,190 47,337 (5) 19,799 Marketing and selling 23,549 20,989 21,444 19,522 17,652 15,813 Total cash costs and -------- -------- -------- -------- -------- -------- expenses 84,539 79,436 102,660 73,996 88,741 60,966 -------- -------- -------- -------- -------- -------- EBITDA $ 54,117 $ 43,247 $ 22,187 $ 39,798 $ 16,071 $ 32,506 ======== ======== ======== ======== ======== ======== Capital expenditures $ 18,891 $ 29,276 $ 15,972 $ 27,491 $ 13,314 $ 24,271 Subscriber count 320,476 257,273 287,417 233,333 237,429 191,499 -------- -------- Total markets 56 56 56 56 56 56 NONMANAGED MARKETS Revenues: Cellular service (including in-roaming) $ 95,452 $ 90,875 $ 15,147 $ 13,959 $ 10,914 $ 10,338 Equipment sales 6,215 5,584 530 518 421 416 -------- -------- -------- -------- -------- -------- Total revenues 101,667 96,459 15,677 14,477 11,335 10,754 Costs and expenses involving cash: Cost of sales: Cellular service 21,036 19,671 3,169 3,287 2,242 2,466 Equipment sales 9,427 7,290 793 914 604 686 General and administrative 19,593 18,950 3,502 3,259 2,412 2,299 Marketing and selling 16,233 19,614 3,046 3,058 2,368 2,397 -------- -------- -------- -------- -------- -------- Total cash costs and expenses 66,289 65,525 10,510 10,518 7,626 7,848 -------- -------- -------- -------- -------- -------- EBITDA $ 35,378 $ 30,934 $ 5,167 $ 3,959 $ 3,709 $ 2,906 ======== ======== ======== ======== ======== ======== Capital expenditures $ 11,338 $ 13,267 $ 1,420 $ 1,772 $ 1,167 $ 1,127 Subscriber count 225,024 189,208 36,429 29,465 26,683 21,801 Total markets 26 26 26 26 26 26
11 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. COMMNET CELLULAR INC. (Registrant) Date: September 21, 1998 By: /s/Daniel P. Dwyer --------------------------------------- Daniel P. Dwyer Executive Vice President, Treasurer & Chief Financial Officer Date: September 21, 1998 By: /s/Andrew J. Gardner --------------------------------------- Andrew J. Gardner Senior Vice President and Controller (Principal Accounting Officer) 12 -----END PRIVACY-ENHANCED MESSAGE-----