GCI Announces First Quarter 2001 Results

Apr 19, 2001, 01:00 ET from GCI

    ANCHORAGE, Alaska, April 19 /PRNewswire/ -- GCI (Nasdaq:   GNCMA) today
 announced its expected results for the first quarter of 2001. Revenues and
 earnings before interest, taxes, depreciation, and amortization (EBITDA) grew
 to $96.9 million and $27.0 million respectively. The results for the first
 quarter include $19.5 million in revenue and EBITDA of approximately
 $7.3 million for the previously announced sale of fiber capacity, which closed
 in the first quarter. Excluding the effects of the fiber sale, revenues for
 the first quarter increased $9.1 million or 13.3 percent to $77.4 million and
 EBITDA increased by $5.7 million or 40.7 percent to $19.7 million when
 compared to the prior year. Revenues and EBITDA for the first quarter
 increased by approximately 1.0 percent and 3.7 percent respectively in
 comparison to the fourth quarter of 2000.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990907/GCILOGO )
     "The new year is off to a great start," said Ron Duncan, GCI president.
 "After excluding the effects of the fiber sale this represents our
 fifth consecutive quarter of record high revenue and EBITDA."
     The company's local services business added more than 3,000 access lines
 during the first quarter and now has more than 65,000 access lines in service
 representing a 33 percent market share in the Anchorage area. GCI's statewide
 Internet platform added more than 2,000 net new customers and now serves more
 than 65,000 customers. Approximately 18,500 of these Internet customers are
 using GCI cable modem service. GCI cable television services now pass
 179,343 homes and serve 121,032 basic subscribers. Basic subscribers increased
 sequentially by 635 subscribers from the fourth quarter of 2000.
     The first quarter 2001 net income is expected to be $2.4 million or
 $0.03 per share on a fully diluted basis. The net income results from the sale
 of fiber capacity during the quarter. The first quarter 2001 net income of
 $0.03 per share compares to a loss of $5.5 million, or $0.12 per share for the
 first quarter of 2000.
     The company had previously issued guidance estimating revenues of $100
 million to $102 million and EBITDA of $26.8 million. The revenue estimate did
 not completely eliminate all inter-company revenues. Actual revenues for the
 quarter were in line with the company's original internal pre-elimination
 expectations. EBITDA for the quarter was slightly higher than the company's
 forecast.
     Further detailed results and financial tables for the first quarter of
 2001 will be released on May 9, 2001. GCI will also hold an institutional
 investor and analyst conference call on May 10, 2001. Details will be posted
 on www.gci.com.
     GCI is an Alaska-based and operated company that provides local, wireless,
 and long distance telephone, cable television, Internet and data communication
 services. More information about the company can be found at www.gci.com.
 
 

SOURCE GCI
    ANCHORAGE, Alaska, April 19 /PRNewswire/ -- GCI (Nasdaq:   GNCMA) today
 announced its expected results for the first quarter of 2001. Revenues and
 earnings before interest, taxes, depreciation, and amortization (EBITDA) grew
 to $96.9 million and $27.0 million respectively. The results for the first
 quarter include $19.5 million in revenue and EBITDA of approximately
 $7.3 million for the previously announced sale of fiber capacity, which closed
 in the first quarter. Excluding the effects of the fiber sale, revenues for
 the first quarter increased $9.1 million or 13.3 percent to $77.4 million and
 EBITDA increased by $5.7 million or 40.7 percent to $19.7 million when
 compared to the prior year. Revenues and EBITDA for the first quarter
 increased by approximately 1.0 percent and 3.7 percent respectively in
 comparison to the fourth quarter of 2000.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990907/GCILOGO )
     "The new year is off to a great start," said Ron Duncan, GCI president.
 "After excluding the effects of the fiber sale this represents our
 fifth consecutive quarter of record high revenue and EBITDA."
     The company's local services business added more than 3,000 access lines
 during the first quarter and now has more than 65,000 access lines in service
 representing a 33 percent market share in the Anchorage area. GCI's statewide
 Internet platform added more than 2,000 net new customers and now serves more
 than 65,000 customers. Approximately 18,500 of these Internet customers are
 using GCI cable modem service. GCI cable television services now pass
 179,343 homes and serve 121,032 basic subscribers. Basic subscribers increased
 sequentially by 635 subscribers from the fourth quarter of 2000.
     The first quarter 2001 net income is expected to be $2.4 million or
 $0.03 per share on a fully diluted basis. The net income results from the sale
 of fiber capacity during the quarter. The first quarter 2001 net income of
 $0.03 per share compares to a loss of $5.5 million, or $0.12 per share for the
 first quarter of 2000.
     The company had previously issued guidance estimating revenues of $100
 million to $102 million and EBITDA of $26.8 million. The revenue estimate did
 not completely eliminate all inter-company revenues. Actual revenues for the
 quarter were in line with the company's original internal pre-elimination
 expectations. EBITDA for the quarter was slightly higher than the company's
 forecast.
     Further detailed results and financial tables for the first quarter of
 2001 will be released on May 9, 2001. GCI will also hold an institutional
 investor and analyst conference call on May 10, 2001. Details will be posted
 on www.gci.com.
     GCI is an Alaska-based and operated company that provides local, wireless,
 and long distance telephone, cable television, Internet and data communication
 services. More information about the company can be found at www.gci.com.
 
 SOURCE  GCI