Attached files
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EX-99.1 - EXHIBIT 99.1 - GCI, LLC | exhibit99-1.htm |
UNITED
STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section
13 OR 15(d) of The
Securities Exchange
Act of 1934
Date of report
(Date of earliest event reported): October 22, 2009
GCI,
INC.
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(Exact name
of registrant as specified in its charter)
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State
of Alaska
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0-5890
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91-1820757
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(State or
other Jurisdiction of Incorporation or organization)
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Commission
File Number
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(I.R.S
Employer
Identification
No.)
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2550
Denali Street
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Suite
1000
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Anchorage,
Alaska
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99503
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(Address of
principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (907) 868-5600
NONE
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(Former name
or former address, if changed since last report)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligations of the registrant under any of the following
provisions:
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o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
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o
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR
240.13e-4(c))
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Section
2 – Financial Information
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Item
2.02
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Results
of Operations and Financial
Condition
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On
October 22, 2009, GCI, Inc.'s parent company, General Communication, Inc. (GCI)
issued a press release announcing certain preliminary financial results for the
three months ended September 30, 2009. A copy of the press release is
attached as Exhibit 99.1.
The information in
this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for
purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, except
as shall be expressly set forth by specific reference in such
filing.
The earnings
release attached as Exhibit 99.1 discloses the non-GAAP financial measure of
adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization,
Share-based Compensation Expense and Non-cash Contribution Adjustment) for the
three months ended September 30, 2009 and 2008. Adjusted EBITDA has
been reconciled to the closely related GAAP financial measure, Net Income,
within the earnings release.
Adjusted EBITDA is
the sum of Net Income, Interest Expense (including Amortization of Deferred Loan
Fees), Interest Income, Income Tax Expense, Depreciation and Amortization
Expense, Share-based Compensation Expense and Non-cash Contribution
Adjustment. Adjusted EBITDA is not presented as an alternative
measure of net income, operating income or cash flow from operations, as
determined in accordance with accounting principles generally accepted in the
United States of America. GCI's management uses adjusted EBITDA to
evaluate the operating performance of its business, and as a measure of
performance for incentive compensation purposes. GCI believes
adjusted EBITDA is a measure used as an analytical indicator of income generated
to service debt and fund capital expenditures. In addition, multiples
of current or projected adjusted EBITDA is used to estimate current or
prospective enterprise value. Adjusted EBITDA does not give effect to
cash used for debt service requirements, and thus does not reflect funds
available for investment or other discretionary uses. Adjusted EBITDA
as presented herein may not be comparable to similarly titled measures reported
by other companies.
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Section
9 – Financial Statements and
Exhibits
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Item
9.01 Financial Statements and
Exhibits
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(d)
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Exhibits
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Exhibit
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Number
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Description
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99.1 Press
release issued by General Communication, Inc. on October 22,
2009
SIGNATURE
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 hereunto duly
authorized.
GCI,
INC.
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(Registrant)
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Date: October
21, 2009
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By
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/s/ John M. Lowber | ||
Name: John M.
Lowber
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Title: Secretary,
Treasurer
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and
Director
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(Principal
Financial and
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Accounting
Officer)
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Exhibit
Index
Exhibit
No.
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Description
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99.1
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Press release
issued by General Communication, Inc. on October 22,
2009
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