| Media General, Inc. | ||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||
| (Unaudited, in thousands, except per share amounts) | ||||||||||
|
|
||||||||||
| Thirteen Weeks Ending | Thirty-nine Weeks Ending | |||||||||
|
|
|
|||||||||
| Sept. 29, | Sept. 30, | Sept. 29, | Sept. 30, | |||||||
| 2002 | 2001 | 2002 | 2001 | |||||||
|
|
||||||||||
| Revenues |
$ 201,153
|
$ 193,052
|
$
607,444
|
$ 597,680
|
||||||
| Operating costs: | ||||||||||
| Production |
86,518
|
89,197
|
258,823
|
268,271
|
||||||
| Selling, general and administrative |
68,138
|
61,252
|
203,003
|
198,565
|
||||||
| Depreciation and amortization |
16,649
|
28,470
|
50,180
|
86,369
|
||||||
|
|
||||||||||
| Total operating costs |
171,305
|
178,919
|
512,006
|
553,205
|
||||||
|
|
||||||||||
| Operating income |
29,848
|
14,133
|
95,438
|
44,475
|
||||||
|
|
||||||||||
| Other income (expense): | ||||||||||
| Interest expense |
(11,607)
|
(13,948)
|
(36,961)
|
(40,372)
|
||||||
| Investment income (loss)-unconsolidated affiliates |
(4,423)
|
3,246
|
(10,190)
|
20,451
|
||||||
| Other, net |
2,562
|
(4,247)
|
4,185
|
(7,261)
|
||||||
|
|
||||||||||
| Total other expense |
(13,468)
|
(14,949)
|
(42,966)
|
(27,182)
|
||||||
|
|
||||||||||
| Income (loss) from continuing operations before income taxes and cumulative effect of change in accounting principle |
16,380
|
(816)
|
52,472
|
17,293
|
||||||
| Income taxes |
6,869
|
200
|
20,674
|
7,263
|
||||||
|
|
||||||||||
| Income (loss) from continuing operations before cumulative effect of change in accounting principle |
9,511
|
(1,016)
|
31,798
|
10,030
|
||||||
| Gain on disposition of discontinued operations (net of tax) |
---
|
280
|
---
|
280
|
||||||
| Cumulative effect of change in accounting principle (net of tax)1 |
---
|
---
|
(126,336)
|
---
|
||||||
|
|
||||||||||
| Net income (loss) |
$
9,511
|
$
(736)
|
$ (94,538)
|
$
10,310
|
||||||
|
|
||||||||||
| Net income (loss) per common share: | ||||||||||
| Income (loss) from continuing operations before cumulative effect of change in accounting principle |
$
0.41
|
$
(0.04)
|
$
1.39
|
$ 0.44
|
||||||
| Discontinued operations |
---
|
0.01
|
---
|
0.01
|
||||||
| Cumulative effect of change in accounting principle |
---
|
---
|
(5.51)
|
---
|
||||||
|
|
||||||||||
| Net income (loss) |
$
0.41
|
$
(0.03)
|
$
(4.12)
|
$ 0.45
|
||||||
|
|
||||||||||
| Net income (loss) per common share - assuming dilution: | ||||||||||
| Income (loss) from continuing operations before cumulative effect of change in accounting principle |
$
0.41
|
$
(0.04)
|
$
1.37
|
$ 0.44
|
||||||
| Discontinued operations |
---
|
0.01
|
---
|
0.01
|
||||||
| Cumulative effect of change in accounting principle |
---
|
---
|
(5.44)
|
---
|
||||||
|
|
||||||||||
| Net income (loss) |
$
0.41
|
$
(0.03)
|
$
(4.07)
|
$ 0.45
|
||||||
|
|
||||||||||
|
|
||||||||||
| Weighted-average common shares outstanding: | ||||||||||
| Basic |
22,990
|
22,733
|
22,927
|
22,705
|
||||||
| Diluted |
23,225
|
22,733
|
23,218
|
22,947
|
||||||
|
|
||||||||||
| 1 Write-down for impairment upon adoption of SFAS No. 142 Goodwill and Other Intangible Assets. | ||||||||||
Return to Friday, Oct. 18, 2002 press release
|
(2 of 4) |