MEDIA GENERAL, INC., CONSOLIDATED STATEMENTS OF
OPERATIONS
(In thousands, except
per share amounts)
Annual Report Index
| FINANCIALS MEDIA GENERAL, INC., CONSOLIDATED STATEMENTS OF
OPERATIONS |
Annual Report Index |
| Fiscal Years Ended |
|||||||||||||
| December 27, | December 28, | December 29, | |||||||||||
| 1998 | 1997 | 1996 | |||||||||||
| Revenues | $ | 973,978 | $ | 909,987 | $ | 765,105 | |||||||
| Operating costs: | |||||||||||||
| Production | 477,260 | 453,937 | 410,659 | ||||||||||
| Selling, distribution and administrative | 240,487 | 228,289 | 187,059 | ||||||||||
| Depreciation and amortization | 100,201 | 98,316 | 64,951 | ||||||||||
| Total operating costs | 817,948 | 780,542 | 662,669 | ||||||||||
| Operating income | 156,030 | 129,445 | 102,436 | ||||||||||
| Other income (expense): | |||||||||||||
| Interest expense | (66,049 | ) | (65,442 | ) | (21,267 | ) | |||||||
| Investment income — unconsolidated affiliates: | |||||||||||||
| Southeast Paper Manufacturing Co. | 12,831 | 8,334 | 19,508 | ||||||||||
| Denver Newspapers, Inc.: | |||||||||||||
| Equity in net income | 3,226 | 6,695 | 2,704 | ||||||||||
| Preferred stock income | 6,136 | 6,008 | 4,976 | ||||||||||
| Other, net | (999 | ) | 1,267 | 1,381 | |||||||||
| Total other income (expense) | (44,855 | ) | (43,138 | ) | 7,302 | ||||||||
| Income before income taxes and extraordinary item | 111,175 | 86,307 | 109,738 | ||||||||||
| Income taxes | 40,301 | 33,797 | 39,240 | ||||||||||
| Income before extraordinary item | 70,874 | 52,510 | 70,498 | ||||||||||
| Extraordinary item from early redemption of debt (net of income tax benefit of $38,613) | — | (63,000 | ) | — | |||||||||
| Net income (loss) | $ | 70,874 | $ | (10,490 | ) | $ | 70,498 | ||||||
| Earnings per share: | |||||||||||||
| Earnings (loss) per common share: | |||||||||||||
| Income before extraordinary item | $ | 2.67 | $ | 1.99 | $ | 2.68 | |||||||
| Extraordinary item | — | (2.39 | ) | — | |||||||||
| Net income (loss) | $ | 2.67 | $ | (0.40 | ) | $ | 2.68 | ||||||
| Earnings (loss) per common share and equivalent — assuming dilution: | |||||||||||||
| Income before extraordinary item | $ | 2.63 | $ | 1.97 | $ | 2.65 | |||||||
| Extraordinary item | — | (2.37 | ) | — | |||||||||
| Net income (loss) | $ | 2.63 | $ | (0.40 | ) | $ | 2.65 | ||||||
