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): May 4, 2016
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| GENERAL COMMUNICATION, INC. | |
| (Exact name of registrant as specified in its charter) | |
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| State of Alaska | | 0-15279 | | 92-0072737 | |
| (State or other Jurisdiction of Incorporation or organization) | | Commission File Number | | (I.R.S Employer Identification No.) | |
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| 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
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| 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:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 2 - Financial Information
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Item 2.02 | Results of Operations and Financial Condition |
On May 4, 2016, General Communication, Inc. ("GCI") issued a press release announcing earnings for the three months ended March 31, 2016. 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 (defined as earnings plus cash received in excess of revenue recognized for long-term fixed roaming arrangements and imputed interest on financed devices before net interest expense, income taxes, depreciation and amortization expense, loss on extinguishment of debt, software impairment charge, derivative instrument unrealized income (loss), share-based compensation expense, accretion expense, loss attributable to non-controlling interest resulting from NMTC transactions, gains and impairment losses on equity and cost method investments, and other non-cash adjustments) for the three months ended March 31, 2016 and 2015. Adjusted EBITDA has been reconciled to the closely related GAAP financial measure, net income (loss), within the earnings release.
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 useful to investors and other users of our financial information in understanding and evaluating operating performance as an analytical indicator of income generated to service debt and fund capital expenditures. In addition, multiples of current or projected Adjusted EBITDA are 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.
Section 9 - Financial Statements and Exhibits
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Item 9.01 | Financial Statements and Exhibits |
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(d) Exhibits | | | |
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Exhibit | | | | |
Number | | | Description | |
99.1 | | | Press Release issued by General Communication, Inc. on May 4, 2016 | |
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SIGNATURES
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.
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| | | GENERAL COMMUNICATION, INC. |
| | | (Registrant) |
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Date: May 4, 2016 | | | |
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| | By | /s/ Peter J. Pounds |
| | | Name: Peter J. Pounds |
| | | Title: Senior Vice President, |
| | | Chief Financial Officer, |
| | | and Secretary |
| | | (Principal Financial Officer) |
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Exhibit Index |
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Exhibit No. | | Description | |
99.1 | | Press Release issued by General Communication, Inc. on May 4, 2016 | |
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