Citizens Communications (NYSE:CZN) today reported fourth quarter
2007 revenue of $577.2 million, operating income of $174.9 million,
and net income of $59.0 million. �We delivered another quarter of
strong financial and operating results,� said Maggie Wilderotter,
Chairman and CEO of Citizens. �Continued customer product revenue
growth along with disciplined expense control, realized synergies
on our Commonwealth acquisition and other expense reduction
initiatives generated a 55.4 percent operating cash flow margin.
Our penetration levels increased on all bundled products as our
fourth quarter promotions drove residential high speed penetration
to 32 percent and high speed revenues continue to be over $40.00
per customer per month. Our wireless data roll-out is now up and
running in 13 municipalities, four colleges and universities and
over 50 hot spots in our territory. Finally, our integration of
Global Valley Networks is well underway.� Revenue for the fourth
quarter of 2007 was $577.2 million, as compared to $504.4 million
in the fourth quarter of 2006, a 14 percent increase. The fourth
quarter 2007 increase of $72.8 million is primarily the result of
$82.4 million of revenues contributed by the operations of
Commonwealth Telephone Enterprises, which was acquired on March 8,
2007, and Global Valley, which was acquired on October 31, 2007,
and a $15.8 million increase in data and internet services revenue,
offset by declines in Federal and state subsidies and a decline in
basic access lines. Other operating expenses and network access
expenses for the fourth quarter of 2007 were $257.2 million, as
compared to $229.5 million in the fourth quarter of 2006, a 12
percent increase. The fourth quarter 2007 increase of $27.7 million
is primarily the result of $20.7 million in expenses attributable
to the acquired operations of Commonwealth Telephone Enterprises
and Global Valley ($35.1 million excluding the impact of a pension
curtailment gain of $14.4 million, resulting from the freeze placed
on certain pension benefits of the former Commonwealth employees).
The purchases of Commonwealth Telephone Enterprises and Global
Valley have enabled the Company to leverage its centralized back
office, customer service and administrative support functions over
a larger customer base. Operating income for the fourth quarter of
2007 was $174.9 million and operating income margin was 30.3
percent, as compared to operating income of $157.0 million and
operating income margin of 31.1 percent in the fourth quarter of
2006. The fourth quarter 2007 increase of $17.9 million is
primarily the result of $32.2 million contributed by the acquired
operations of Commonwealth Telephone Enterprises and Global Valley,
partially offset by increases in network access expenses and a
reduction in revenue. The Company added approximately 22,400
high-speed internet customers during the fourth quarter of 2007 and
had more than 523,800 high-speed internet customers at December 31,
2007. The Company added approximately 9,400 video customers during
the fourth quarter of 2007 and had more than 93,500 video customers
at December 31, 2007. These fourth quarter net additions to
high-speed internet and video customers exclude the impact of the
Global Valley acquisition. The Global Valley acquisition was
completed on October 31, 2007. Global Valley represents $2.3
million of revenue for the two months in the quarter, 15,300 access
lines and 4,200 high-speed internet customers. Capital expenditures
were $113.2 million for the fourth quarter of 2007 and $315.8
million for the year, including $34.3 million related to the
acquired properties since the date of their respective
acquisitions. Free cash flow was $105.3 million for the fourth
quarter of 2007 and $528.0 million for the year. The Company�s $1
per common share annual dividend represents a payout of 64 percent
of free cash flow for the year. During the fourth quarter, the
Company repurchased 2,175,000 shares of its common stock for $30.9
million and completed its $250.0 million authorized stock
repurchase program. The Company�s Board of Directors has authorized
a new common stock share repurchase program. Under the new program,
up to $200 million of common stock may be repurchased over the next
12 months. The Company expects that its capital expenditures and
free cash flow for the full year 2008 will be approximately $300
million to $310 million and approximately $450 million to $475
million, respectively. The Company�s 2008 free cash flow
expectations take into consideration an estimate of cash taxes in
the range of $130 million to $140 million. The Company�s 2008 cash
tax estimate does not reflect the impact of the �Economic Stimulus
Act of 2008,� which the Company is currently evaluating. The
Company�s next regular quarterly cash dividend of $0.25 per share
will be paid on March 31, 2008 to shareholders of record on March
10, 2008. The Company expects that dividends paid to stockholders
in 2008 will be treated as dividends for federal income tax
purposes. Shareholders are encouraged to consult with their tax
advisors. The Company uses certain non-GAAP financial measures in
evaluating its performance. These include free cash flow and
operating cash flow. A reconciliation of the differences between
free cash flow and operating cash flow and the most comparable
financial measures calculated and presented in accordance with GAAP
is included in the tables that follow. The non-GAAP financial
measures are by definition not measures of financial performance
under generally accepted accounting principles and are not
alternatives to operating income or net income reflected in the
statement of operations or to cash flow as reflected in the
statement of cash flows and are not necessarily indicative of cash
available to fund all cash flow needs. The non-GAAP financial
measures used by the Company may not be comparable to similarly
titled measures of other companies. The Company believes that
presentation of non-GAAP financial measures provides useful
information to investors regarding the Company�s financial
condition and results of operations because these measures, when
used in conjunction with related GAAP financial measures, (i)
together provide a more comprehensive view of the Company�s core
operations and ability to generate cash flow, (ii) provide
investors with the financial analytical framework upon which
management bases financial, operational, compensation and planning
decisions, and (iii) presents measurements that investors and
rating agencies have indicated to management are useful to them in
assessing the Company and its results of operations. Management
uses these non-GAAP financial measures to plan and measure the
performance of its core operations, and its divisions measure
performance and report to management based upon these measures. In
addition, the Company believes that free cash flow and operating
cash flow, as the Company defines them, can assist in comparing
performance from period to period, without taking into account
factors affecting cash flow reflected in the statement of cash
flows, including changes in working capital and the timing of
purchases and payments. The Company has shown adjustments to its
financial presentations to exclude $14.4 million in pension
curtailment gain in the fourth quarter and full year of 2007, and
$3.2 million of severance and early retirement costs in the fourth
quarter of 2006, and severance and early retirement costs of $13.9
million for the full year of 2007 and $7.2 million for the full
year 2006, because the Company believes that the magnitude of such
gains and costs in the third and fourth quarters of 2007 materially
exceeds that which has been incurred by the Company in any other
quarter during 2006 and 2007. Management uses these non-GAAP
financial measures to (i) assist in analyzing the Company�s
underlying financial performance from period to period, (ii)
evaluate the financial performance of its business units, (iii)
analyze and evaluate strategic and operational decisions, (iv)
establish criteria for compensation decisions, and (v) assist
management in understanding the Company�s ability to generate cash
flow and, as a result, to plan for future capital and operational
decisions. Management uses these non-GAAP financial measures in
conjunction with related GAAP financial measures. The Company
believes that the non-GAAP financial measures are meaningful and
useful for the reasons outlined above. While the Company utilizes
these non-GAAP financial measures in managing and analyzing its
business and financial condition and believes they are useful to
management and to investors for the reasons described above, these
non-GAAP financial measures have certain shortcomings. In
particular, free cash flow does not represent the residual cash
flow available for discretionary expenditures, since items such as
debt repayments and dividends are not deducted in determining such
measure. Operating cash flow has similar shortcomings as interest,
income taxes, capital expenditures, debt repayments and dividends
are not deducted in determining this measure. Management
compensates for the shortcomings of these measures by utilizing
them in conjunction with their comparable GAAP financial measures.
The information in this press release should be read in conjunction
with the financial statements and footnotes contained in our
documents filed with the U.S. Securities and Exchange Commission.
About Citizens Communications Citizens Communications Company
(NYSE:CZN) operates under the brand name of Frontier and offers
telephone, television and internet services in 24 states with
approximately 5,900 employees. More information is available at
www.czn.com, www.frontieronline.com and www.frontier.myway.com.
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions of The Private
Securities Litigation Reform Act of 1995. These statements are made
on the basis of management�s views and assumptions regarding future
events and business performance. Words such as �believe,�
�anticipate,� �expect,� and similar expressions are intended to
identify forward-looking statements. Forward-looking statements
(including oral representations) involve risks and uncertainties
that may cause actual results to differ materially from any future
results, performance or achievements expressed or implied by such
statements. These risks and uncertainties are based on a number of
factors, including but not limited to: reductions in the number of
our access lines and high-speed internet subscribers; the effects
of competition from cable, wireless and other wireline carriers
(through voice over internet protocol (VOIP) or otherwise); the
effects of greater than anticipated competition requiring new
pricing, marketing strategies or new product offerings and the risk
that we will not respond on a timely or profitable basis; the
effects of general and local economic, business, industry and
employment conditions on our revenues; our ability to effectively
manage service quality; our ability to successfully introduce new
product offerings, including our ability to offer bundled service
packages on terms that are both profitable to us and attractive to
our customers; our ability to sell enhanced and data services in
order to offset ongoing declines in revenue from local services,
switched access services and subsidies; changes in accounting
policies or practices adopted voluntarily or as required by
generally accepted accounting principles or regulators; the effects
of ongoing changes in the regulation of the communications industry
as a result of federal and state legislation and regulation,
including potential changes in state rate of return limitations on
our earnings, access charges and subsidy payments, and regulatory
network upgrade and reliability requirements; our ability to
effectively manage our operations, operating expenses and capital
expenditures, to pay dividends and to reduce or refinance our debt;
adverse changes in the ratings given to our debt securities by
nationally accredited ratings organizations, which could limit or
restrict the availability and/or increase the cost of financing;
the effects of bankruptcies in the telecommunications industry,
which could result in potential bad debts; the effects of
technological changes and competition on our capital expenditures
and product and service offerings, including the lack of assurance
that our ongoing network improvements will be sufficient to meet or
exceed the capabilities and quality of competing networks; the
effects of increased medical, retiree and pension expenses and
related funding requirements; changes in income tax rates, tax
laws, regulations or rulings, and/or federal or state tax
assessments; the effects of state regulatory cash management
policies on our ability to transfer cash among our subsidiaries and
to the parent company; our ability to successfully renegotiate
union contracts expiring in 2008 and thereafter; our ability to pay
a $1.00 per common share dividend annually, which may be affected
by our cash flow from operations, amount of capital expenditures,
debt service requirements, cash paid for income taxes (which will
increase in the future) and our liquidity; the effects of fully
utilizing our federal net operating loss carryforwards and AMT tax
credit carryforwards that were generated in prior years, which have
significantly increased our cash taxes in 2007 and will continue to
do so in 2008 and 2009; the effects of any future liabilities or
compliance costs in connection with worker health and safety
matters; and the effects of any unfavorable outcome with respect to
any of our current or future legal, governmental or regulatory
proceedings, audits or disputes. These and other uncertainties
related to our business are described in greater detail in our
filings with the Securities and Exchange Commission, including our
reports on Forms 10-K and 10-Q and the foregoing information should
be read in conjunction with these filings. We do not intend to
update or revise these forward-looking statements to reflect the
occurrence of future events or circumstances. Citizens
Communications Company Consolidated Financial Data (1) � For the
quarter endedDecember 31, � For the year endedDecember 31, (Amounts
in thousands, except per share amounts) 2007 2006 % Change 2007
2006 %Change � Income Statement Data Revenue $ 577,228 � $ 504,396
� 14 % $ 2,288,015 � $ 2,025,367 13 % � Network access expenses
66,601 49,836 34 % 228,242 171,247 33 % Other operating expenses
190,580 179,664 6 % 808,501 733,143 10 % Depreciation
andamortization � 145,156 � � 117,923 � 23 % � 545,856 � � 476,487
15 % Total operating expenses � 402,337 � � 347,423 � 16 % �
1,582,599 � � 1,380,877 15 % � Operating income 174,891 156,973 11
% 705,416 644,490 9 % Investment and other income (loss), net (2)
7,276 14,070 -48 % 17,948 82,443 -78 % Interest expense � 92,925 �
� 83,526 � 11 % � 380,696 � � 336,446 13 % Income from continuing
operations before income taxes 89,242 87,517 2 % 342,668 390,487
-12 % Income tax expense � 30,229 � � 23,576 � 28 % � 128,014 � �
136,479 -6 % Income from continuing operations 59,013 63,941 -8 %
214,654 254,008 -15 % Income (loss) from discontinued operations,
net of tax (3) � - � � (30 ) 100 % � - � � 90,547 -100 % Net income
attributable to common shareholders $ 59,013 � $ 63,911 � -8 % $
214,654 � $ 344,555 -38 % � Weighted average shares outstanding
327,028 320,774 2 % 331,037 322,641 3 % � Basic net income per
share attributable to common shareholders (4) Income from
continuing operations $ 0.18 $ 0.20 -10 % $ 0.65 $ 0.79 -18 %
Income from discontinued operations � - � � - � 0 % � - � � 0.28
-100 % Net income per common share $ 0.18 � $ 0.20 � -10 % $ 0.65 �
$ 1.07 -39 % � � Other Financial Data Capital expenditures $
113,152 $ 105,450 7 % $ 315,793 $ 268,806 17 % Operating cash flow
(5) 320,047 274,896 16 % 1,251,272 1,120,977 12 % Free cash flow
(5) 105,293 101,348 4 % 528,005 561,784 -6 % Dividends paid 81,941
80,556 2 % 336,025 323,671 4 % Dividend payout ratio (6) 78 % 79 %
-1 % 64 % 58 % 10 % (1) � On March 8, 2007, we acquired
Commonwealth Telephone Enterprises, Inc. (CTE) for approximately
$1.1 billion, and on October 31, 2007, we acquired Global Valley
Networks Inc. and GVN Services (together GVN) for $62.0 million,
and have included the historical results of CTE and GVN from the
dates of acquisition. (2) In April 2007, we redeemed $495.2 million
principal amount of our 7.625% Senior Notes due 2008. The debt
retirement generated a pre-tax loss on the early extinguishment of
approximately $16.3 million. In April 2006, we received $64.6
million upon the liquidation of the Rural Telephone Bank. (3) On
July 31, 2006, we sold our CLEC business, Electric Lightwave, LLC
(ELI), for $247.0 million in cash plus the assumption of
approximately $4.0 million in capital lease obligations. We
recognized an after-tax gain on the disposal of ELI of $71.6
million. (4) Calculated based on weighted average shares
outstanding. (5) A reconciliation to the most comparable GAAP
measure is presented at the end of these tables. (6) Represents
dividends paid divided by free cash flow. Citizens Communications
Company Consolidated Financial and Operating Data (1) � For the
quarter endedDecember 31, � For the year endedDecember 31, �
(Amounts in thousands, except operating data) 2007 2006 %Change
2007 2006 %Change � � Select Income Statement Data Revenue Local
services $ 219,977 $ 199,729 10 % $ 875,762 (2) $ 809,584 8 % Data
and internet services 147,292 111,378 32 % 543,764 (2) 424,209 28 %
Access services 113,881 107,147 6 % 479,462 427,959 12 % Long
distance services 45,313 36,493 24 % 180,525 153,272 18 % Directory
services 28,910 28,423 2 % 114,586 114,138 0 % Other � 21,855 �
21,226 3 % � 93,916 � 96,205 -2 % Total revenue � 577,228 � 504,396
14 % � 2,288,015 � 2,025,367 13 % � Expenses Network access
expenses 66,601 49,836 34 % 228,242 (2) 171,247 33 % Other
operating expenses (3) 190,580 179,664 6 % 808,501 (2) 733,143 10 %
Deprecia-tion and amor-tization � 145,156 � 117,923 23 % � 545,856
� 476,487 15 % Total operating expenses � 402,337 � 347,423 16 % �
1,582,599 � 1,380,877 15 % � Operating Income $ 174,891 $ 156,973
11 % $ 705,416 $ 644,490 9 % � Other Financial and Operating Data
Employees 5,939 5,446 9 % 5,939 5,446 9 % Access lines 2,431,676
2,126,574 14 % 2,431,676 2,126,574 14 % High-speed internet
(HSI)sub-scribers 523,845 393,184 33 % 523,845 393,184 33 %
Videosub-scribers 93,596 62,851 49 % 93,596 62,851 49 % Long
distancesub-scribers 1,569,620 1,382,411 14 % 1,569,620 1,382,411
14 % Switched access minutes of use (in millions) 2,605 2,434 7 %
10,592 10,227 4 % Average monthly revenue per average access line
(4) $ 78.64 $ 78.48 0 % $ 81.50 $ 77.25 6 % (1) � On March 8, 2007,
we acquired Commonwealth Telephone Enterprises, Inc. (CTE) for
approximately $1.1 billion, and on October 31, 2007, we acquired
Global Valley Networks Inc. and GVN Services (together GVN) for
$62.0 million, and have included the historical results of CTE and
GVN from the dates of acquisition. (2) Reflects a reclassification
of $14.1 million of revenue of our CTE acquisition from local
services to data and internet services. Also, expenses reflect a
reclassification of $2.4 million of expenses of our CTE acquisition
from other operating expenses to network access expenses. (3) For
the year ended December 31, 2007, includes severance and early
retirement costs of $13.9 million. For the quarter and year ended
December 31, 2006, includes severance and early retirement costs of
$3.2 million and $7.2 million, respectively. For the quarter and
year ended December 31, 2007, includes pension curtailment gain of
$14.4 million. (4) For the year ended December 31, 2007, the
calculation excludes CTE and GVN data and includes the $38.7
million favorable impact from the first quarter 2007 settlement of
a switched access dispute. The amount is $79.94 without the $38.7
million favorable impact from the settlement. Citizens
Communications Company Condensed Consolidated Balance Sheet Data
(1) � (Amounts in thousands) � � December 31, 2007 � December 31,
2006 ASSETS Current assets: � Cash and cash equivalents $ 226,466 $
1,041,106 Accounts receivable and other current assets � 297,688 �
231,887 � Total current assets 524,154 1,272,993 � Property, plant
and equipment, net 3,335,244 2,983,504 � Other long-term assets �
3,396,671 � 2,541,039 Total assets $ 7,256,069 $ 6,797,536 �
LIABILITIES AND SHAREHOLDERS' EQUITY � Current liabilities:
Long-term debt due within one year $ 2,448 $ 39,271 Accounts
payable and other current liabilities � 443,443 � 386,372 Total
current liabilities 445,891 425,643 � Deferred income taxes and
other liabilities 1,075,382 846,775 Long-term debt 4,736,897
4,467,086 Shareholders' equity � 997,899 � 1,058,032 Total
liabilities and shareholders' equity $ 7,256,069 $ 6,797,536 (1) �
On March 8, 2007, we acquired Commonwealth Telephone Enterprises,
Inc. (CTE) for approximately $1.1 billion, and on October 31, 2007,
we acquired Global Valley Networks Inc. and GVN Services (together
GVN) for $62.0 million, and have included the historical results of
CTE and GVN from the dates of acquisition. Citizens Communications
Company Consolidated Cash Flow Data (1) � (Amounts in thousands) �
For the year ended December 31, 2007 � 2006 � Cash flows provided
by (used in) operating activities: Net income $ 214,654 $ 344,555
Deduct: Income from discontinued operations - (18,912 ) Gain on
sale of discontinued operations - (71,635 ) Adjustments to
reconcile income to net cash providedby operating activities:
Depreciation and amortization expense 545,856 476,487 Stock based
compensation expense 9,022 10,340 Loss on debt exchange - 2,420
Losses on extinguishment of debt 20,186 - Investment gain - (61,428
) Other non-cash adjustments (7,598 ) 5,204 Deferred income taxes
81,011 132,031 Legal settlement (7,905 ) - Change in accounts
receivable (4,714 ) 15,333 Change in accounts payable and other
liabilities (36,257 ) (3,064 ) Change in other current assets �
7,428 � � (2,148 ) Net cash provided by continuing operating
activities 821,683 829,183 � Cash flows provided from (used by)
investing activities: Capital expenditures (315,793 ) (268,806 )
Cash paid for acquisitions, net (725,548 ) - Proceeds from sale of
discontinued operations - 255,305 Other assets (purchased)
distributions received, net � 6,629 � � 67,050 � Net cash (used by)
provided from investing activities (1,034,712 ) 53,549 � Cash flows
provided from (used by) financing activities: Long-term debt
borrowings 950,000 550,000 Debt issuance costs (12,196 ) (6,948 )
Premium paid to retire debt (20,186 ) - Long-term debt payments
(946,070 ) (227,693 ) Issuance of common stock 13,808 27,200
Dividends paid (336,025 ) (323,671 ) Common stock repurchased
(250,000 ) (135,239 ) Other � (942 ) � (264 ) Net cash used by
financing activities (601,611 ) (116,615 ) � Cash flows of
discontinued operations: Operating activities - 17,833 Investing
activities - (6,593 ) Financing activities � - � � - � Net cash
provided by discontinued operations - 11,240 � (Decrease) increase
in cash and cash equivalents (814,640 ) 777,357 Cash and cash
equivalents at January 1, � 1,041,106 � � 263,749 � � Cash and cash
equivalents at December 31, $ 226,466 � $ 1,041,106 � � Cash paid
during the period for: Interest $ 364,381 $ 332,204 Income taxes $
54,407 $ 5,365 (1) � On March 8, 2007, we acquired Commonwealth
Telephone Enterprises, Inc. (CTE) for approximately $1.1 billion,
and on October 31, 2007, we acquired Global Valley Networks Inc.
and GVN Services (together GVN) for $62.0 million, and have
included the historical results of CTE and GVN from the dates of
acquisition. Schedule A � Reconciliation of Non-GAAP Financial
Measures (1) � � For the quarter ended December 31, � For the year
ended December 31, (Amounts in thousands) 2007 � 2006 � 2007 � 2006
� Net Income to Free Cash Flow; Net Cash Provided by Operating
Activities � Net income $ 59,013 $ 63,911 $ 214,654 $ 344,555 � Add
back: � Depreciation and amortization 145,156 117,923 545,856
476,487 � Income tax expense 30,229 23,576 128,014 136,479 � Stock
based compensation 1,213 2,380 9,022 10,340 � Subtract: � Cash paid
(refunded) for income taxes 737 (2,965 ) 54,407 5,365 � Pension
curtailment gain (non-cash) 14,379 - 14,379 - � Investment and
other income (loss), netof interest income 2,050 4,401 (15,038 )
60,271 � Capital expenditures 113,152 105,450 315,793 268,806 �
Gain (loss) on sale of discontinued operations - (444 ) - 71,635 �
� � � Free cash flow 105,293 101,348 528,005 561,784 � Add back: �
Deferred income taxes 26,887 28,138 81,011 132,031 � Non-cash
(gains)/losses, net (18,990 ) 2,471 21,610 17,964 � Investment and
other income (loss), netof interest income 2,050 4,401 (15,038 )
(1,157 ) � Pension curtailment gain (non-cash) 14,379 - 14,379 - �
Cash paid (refunded) for income taxes 737 (2,965 ) 54,407 5,365 �
Capital expenditures 113,152 105,450 315,793 268,806 � Subtract: �
Changes in current assets and liabilities (56,353 ) (37,744 )
41,448 (10,121 ) � Income tax expense 30,229 23,576 128,014 136,479
� Stock based compensation 1,213 2,380 9,022 10,340 � Income from
discontinued operations - 414 - 18,912 � � � � Net cash provided by
operating activities $ 268,419 � $ 250,217 � $ 821,683 � $ 829,183
� (1) � On March 8, 2007, we acquired Commonwealth Telephone
Enterprises, Inc. (CTE) for approximately $1.1 billion, and on
October 31, 2007, we acquired Global Valley Networks Inc. and GVN
Services (together GVN) for $62.0 million, and have included the
historical results of CTE and GVN from the dates of acquisition.
Schedule B � Reconciliation of Non-GAAP Financial Measures (1) �
For the quarter ended December 31, 2007 � For the quarter ended
December 31, 2006 (Amounts in thousands) � Operating Cash Flow
andOperating Cash Flow Margin AsReported � � PensionCurtailmentGain
� � AsAdjusted AsReported � Severanceand EarlyRetirementCosts �
AsAdjusted � � Operating Income $ 174,891 $ 14,379 $ 160,512 $
156,973 $ (3,237 ) $ 160,210 � Add back: Depreciation and
amortization � 145,156 � � - � 145,156 � � 117,923 � � - � �
117,923 � � Operating cash flow $ 320,047 � $ 14,379 $ 305,668 � $
274,896 � $ (3,237 ) $ 278,133 � � � Revenue $ 577,228 � $ 577,228
� $ 504,396 � $ 504,396 � � Operating income margin (Operating
income divided byrevenue) � 30.3 % � 27.8 % � 31.1 % � 31.8 % �
Operating cash flow margin (Operating cash flow divided byrevenue)
� 55.4 % � 53.0 % � 54.5 % � 55.1 % � � For the year ended December
31, 2007 For the year ended December 31, 2006 � � � Operating Cash
Flow andOperating Cash Flow Margin AsReported Severanceand
EarlyRetirementCosts � PensionCurtailmentGain � AsAdjusted
AsReported Severanceand EarlyRetirementCosts AsAdjusted � �
Operating Income $ 705,416 $ (13,874 ) $ 14,379 $ 704,911 $ 644,490
$ (7,193 ) $ 651,683 � Add back: Depreciation and amortization �
545,856 � � - � � - � 545,856 � � 476,487 � � - � � 476,487 � �
Operating cash flow $ 1,251,272 � $ (13,874 ) $ 14,379 $ 1,250,767
� $ 1,120,977 � $ (7,193 ) $ 1,128,170 � � � Revenue $ 2,288,015 �
$ 2,288,015 � $ 2,025,367 � $ 2,025,367 � � Operating income margin
(Operating income divided byrevenue) � 30.8 % � 30.8 % � 31.8 % �
32.2 % � Operating cash flow margin (Operating cash flow divided
byrevenue) � 54.7 % � 54.7 % � 55.3 % � 55.7 % (1) � On March 8,
2007, we acquired Commonwealth Telephone Enterprises, Inc. (CTE)
for approximately $1.1 billion, and on October 31, 2007, we
acquired Global Valley Networks Inc. and GVN Services (together
GVN) for $62.0 million, and have included the historical results of
CTE and GVN from the dates of acquisition.
Citizen Comm (NYSE:CZN)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Citizen Comm (NYSE:CZN)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024