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): August 1, 2007

 

 

GENERAL COMMUNICATION, INC.

 

 

(Exact name of registrant as specified in its charter)

 

 

 

State of Alaska

 

0-15279

 

92-0072737

 

 

(State or other Jurisdiction of

 

Commission File Number

 

(I.R.S Employer

 

 

Incorporation or organization)

 

 

 

Identification No.)

 

 

 

 

2550 Denali Street

 

 

 

 

 

 

Suite 1000

 

 

 

 

 

 

Anchorage, Alaska

 

99503

 

 

 

(Address of Principal Executive offices)

 

(Zip Code)

 

 

 

 

 

 

 

 

 

 

Registrant’s telephone number, including area code: (907) 868-5600

 

 

NONE

 

 

(Former name or former address, if changed since last report)

 

 

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:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 


 

Section 2 – Financial Information

 

Item 2.02

Results of Operations and Financial Condition

 

On August 1, 2007, General Communication, Inc. (GCI) issued a press release announcing earnings for the three and six months ended June 30, 2007. 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 EBITDAS (Earnings Before Interest, Taxes, Depreciation, Amortization, and Share-based Compensation Expense) for the three and six months ended June 30, 2007 and 2006. EBITDAS has been reconciled to the closely related GAAP financial measure, Net Income, within the earnings release.

 

EBITDAS is the sum of Net Income, Interest Expense, Amortization of Loan and Senior Notes Fees, Interest Income, Income Tax Expense, Depreciation and Amortization Expense, and Share-based Compensation Expense. EBITDAS 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 EBITDAS to evaluate the operating performance of its business, and as a measure of performance for incentive compensation purposes. GCI believes EBITDAS 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 EBITDAS is used to estimate current or prospective enterprise value. EBITDAS does not give effect to cash used for debt service requirements, and thus does not reflect funds available for investment or other discretionary uses. EBITDAS as presented herein may not be comparable to similarly titled measures reported by other companies.

 

 

 

Section 9 – Financial Statements and Exhibits

 

Item 9.01 Financial Statements and Exhibits

 

(a) Financial statements of businesses acquired: Not Applicable

 

(b) Pro forma financial information: Not Applicable

 

(c) Exhibit:

 

99.1 Press release issued by General Communication, Inc. on August 1, 2007

 

 


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.

 

 

 

 

 

GENERAL COMMUNICATION, INC.

 

 

 

(Registrant)

 

 

 

 

Date: August 2, 2007

 

 

 

 

 

 

 

 

 

By

/s/ John M. Lowber

 

 

 

Name: John M. Lowber

 

 

 

Title:  Senior Vice President,

 

 

 

Chief Financial Officer,

 

 

 

Secretary and Treasurer

 

 

 

(Principal Financial Officer)

 

 


Exhibit Index

 

Exhibit No.

Description

99.1

Press release issued by General Communication, Inc. on August 1, 2007