UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): May 7, 2003
GENERAL COMMUNICATION, INC.
(Exact Name of Registrant as Specified in its Charter)
Alaska 0-15279 92-0072737
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification
Incorporation) Number)
2550 Denali Street Suite 1000 Anchorage, Alaska 99503
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (907) 265-5600
N/A
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(Former Name or Former Address, if Changed Since Last Report)
Item 7. Financial Statements and Exhibit.
(a) Financial statements of businesses acquired: None
(b) Pro forma financial information: None
(c) Exhibit:
This exhibit is furnished pursuant to Item 9 hereof and is not deemed to be
"filed" under the Securities Exchange Act of 1934.
99.1 Press release dated May 7, 2003
Item 9. Regulation FD Disclosure and disclosure under Item 12 - Results of
Operations and Financial Condition.
On May 7, 2003, General Communication, Inc. (GCI) issued a press release
announcing first quarter 2003 earnings. A copy of the press release is attached
as Exhibit 99.1. This information furnished under "Item 9. Regulation FD
Disclosure" is intended to be furnished under "Item 12. Results of Operations
and Financial Condition" in accordance with SEC Release No. 33-8216.
The information in this Form 8-K and Exhibit 99.1 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 EBITDA (Earnings Before Interest, Taxes, Depreciation and
Amortization). EBITDA has been reconciled to the closely related GAAP financial
measure, Net Income, within the earnings release.
EBITDA is the sum of Net Income, Net Interest expense, Taxes, and
Depreciation and Amortization. EBITDA is not presented as an alternative measure
of Net Income as determined in accordance with Generally Accepted Accounting
Principles. GCI's management uses EBITDA to evaluate the operating performance
of its business, and as a measure of performance for incentive compensation
purposes. GCI believes EBITDA 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 EBITDA are used to estimate current or
prospective enterprise value. 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. EBITDA as presented herein may not be comparable to
similarly titled measures reported by other companies.
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.
GENERAL COMMUNICATION, INC.
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(Registrant)
Date: May 7, 2003
By /s/ John M. Lowber
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Name: John M. Lowber
Title: Senior Vice President,
Chief Financial Officer,
Secretary and Treasurer
(Principal Financial Officer)
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release of General Communication, Inc., dated
May 7, 2003.