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): October 24, 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
NONE
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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 12 hereof and should
not be deemed to be "filed" under the Securities Exchange Act of
1934.
99.1 Press release dated October 24, 2003
Item 12. Results of Operations and Financial Condition.
On October 24, 2003, General Communication, Inc. (GCI) issued a
press release announcing third quarter 2003 earnings. 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 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 Other Expense, Taxes, and
Depreciation, Amortization and Accretion. EBITDA is not presented as
an alternative measure of Net Income as determined in accordance
with Generally Accepted Accounting Principals. 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.
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.
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(Registrant)
Date: October 24, 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., Inc. dated
October 24, 2003.