1
EXHIBIT (b) 4.
2
PHONETEL TECHNOLOGIES, INC. AND SUBSIDIARIES
UNAUDITED PRO FORMA COMBINED CONDENSED STATEMENT OF OPERATIONS FOR THE YEAR
ENDED DECEMBER 31, 1995
- -------------------------------------------------------------------------------
(9)
World, Public
Telephone, IPP
PhoneTel & Paramount
Technologies As Adjusted Amtel POA
---------------- ------------------ ---------------- ---------------
Revenues $18,717,983 $18,488,923 $17,059,140 $8,215,135
Operating expenses:
Line and transmission charges 5,475,699 6,377,191 6,862,015 3,599,271
Location commissions 3,467,626 2,094,157 3,921,741 1,178,156
Other operating expenses 5,310,262 1,047,352 2,651,734 289,036
Depreciation and amortization 4,383,049 8,176,553 1,621,029 1,218,095
Selling, general and administrative 3,200,742 3,225,009 15,103,091 1,911,624
Other - - 67,356 -
Contractual settlements and
other unusual charges 2,169,503 - - -
---------- ---------- ---------- ---------
24,006,881 20,920,262 30,226,966 8,196,182
---------- ---------- ---------- ---------
Loss from operations (5,288,898) (2,431,339) (13,167,826) 18,953
Other income (expense):
Interest expense - related parties - (7,135,340) - -
Interest expense - others (836,911) (458,853) (7,429,502) (971,141)
Interest income 16,112 19,671 - 415
Reorganization expenses - - (539,942) -
Other - (405,505) (429,967) (68,517)
---------- ---------- ---------- ---------
Total other income (expense) (820,799) (7,980,027) (8,399,411) (1,039,243)
---------- ---------- ---------- ---------
Loss before income taxes
and extraordinary item (6,109,697) (10,411,366) (21,567,237) (1,020,290)
Income taxes - - 4,000 (277,720)
---------- ---------- ---------- ---------
Loss before extraordinary item ($6,109,697) ($10,411,366) ($21,571,237) ($742,570)
=========== ============ ============ =========
Earnings per share calculation:
Preferred dividend requirements (309,668) (874,101) - -
---------- ---------- ---------- ---------
Loss before extraordinary
item applicable to
common shareholders ($6,419,365) ($11,285,467) ($21,571,237) ($742,570)
=========== ============ ============ =========
Loss per common share before
extraordinary item (8) ($3.29)
===========
Weighted average number of shares 1,950,561 1,086,171 2,162,163 166,666
=========== ============ ============ =========
Pro Forma
Adjustments
for Pro Forma
Ref Acquisitions As Adjusted
-------------------------------- ----------------
Revenues (10,11) ($2,871,447) $59,609,734
Operating expenses:
Line and transmission charges (10) (1,694,515) 20,619,661
Location commissions (10) (800,000) 9,861,680
Other operating expenses (10,11) (2,227,295) 7,071,089
Depreciation and amortization (10,11) 2,569,217 17,967,943
Selling, general and administrative (10,11) (12,305,693) 11,134,773
Other - 67,356
Contractual settlements and
other unusual charges - 2,169,503
----------- ----------
(14,458,286) 68,892,005
----------- ----------
Loss from operations 11,586,839 (9,282,271)
Other income (expense):
Interest expense - related parties (12) (1,162,892) (8,298,232)
Interest expense - others (10,11) 7,564,998 (2,131,409)
Interest income - 36,198
Reorganization expenses (10) 539,942 -
Other (10) 429,967 (474,022)
----------- ----------
Total other income (expense) 7,372,015 (10,867,465)
----------- ----------
Loss before income taxes
and extraordinary item 18,958,854 (20,149,736)
Income taxes - (273,720)
----------- ----------
Loss before extraordinary item $18,958,854 ($19,876,016)
=========== ============
Earnings per share calculation:
Preferred dividend requirements (13) 530,534 (653,235)
----------- ----------
Loss before extraordinary
item applicable to
common shareholders $19,489,388 ($20,529,251)
=========== ============
Loss per common share before
extraordinary item (8) ($3.83)
============
Weighted average number of shares 5,365,561
============
<FN>
The accompanying notes are an integral part of these financial statements.