REVENUES – NET:
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The company believes operating cash flow is commonly used as a measure of performance for newspaper companies, however, it does not purport to represent cash provided by operating activities as shown in the company’s statement of cash flows, nor is it meant as a substitute for measures of performance prepared in accordance with generally accepted accounting principles.
Reconciliation of GAAP Measures to Non-GAAP Amounts Reconciliation of GAAP Measures to Non-GAAP Amounts Reconciliation of Operating Income to Operating Cash FlowsReconciliation of Operating Income to Operating Cash Flows
(in thousands)(in thousands)
REVENUES – NET:REVENUES – NET:
Add back:Add back:
Three Months EndedThree Months Ended
June 24,June 24, 20122012
June 30, June 30, 20132013
Six Months EndedSix Months Ended
OPERATING EXPENSES:OPERATING EXPENSES:
OtherOther 12,67212,672 13,16113,161 24,83124,831 25,29525,295
308,789308,789 320,126320,126 603,898603,898 626,815626,815
AdvertisingAdvertising $ 207,652$ 207,652 $ 222,565$ 222,565 $ 404,774$ 404,774 $ 432,329$ 432,329
CirculationCirculation 88,46588,465 84,40084,400 174,293174,293 169,191169,191
Other cash operating expensesOther cash operating expenses 101,573101,573 102,293102,293 200,420200,420 202,390202,390
Newsprint, supplements and printing expenseNewsprint, supplements and printing expense 30,83930,839 34,96834,968 61,55461,554 69,30769,307
Compensation excluding restructuring chargesCompensation excluding restructuring charges 107,452107,452 107,811107,811 219,647219,647 219,289219,289
Cash operating expenses excluding restructuring chargesCash operating expenses excluding restructuring charges 239,864239,864 245,072245,072 481,621481,621 490,986490,986
Depreciation and amortizationDepreciation and amortization 29,91929,919 30,82230,822 60,36560,365 61,56361,563
Total operating expensesTotal operating expenses 277,328277,328 277,191277,191 551,839551,839 555,905555,905
OPERATING INCOMEOPERATING INCOME 31,46131,461 42,93542,935 52,05952,059 70,91070,910
Depreciation and amortizationDepreciation and amortization 29,91929,919 30,82230,822 60,36560,365 61,56361,563
Severance chargesSeverance charges 275275705705 1,4461,4461,0861,086
OPERATING CASH FLOW MARGINOPERATING CASH FLOW MARGIN 23.4%23.4%22.3%22.3% 21.7%21.7%20.2%20.2%
OPERATING CASH FLOWOPERATING CASH FLOW $ 75,054$ 75,054 $ 68,925$ 68,925 $ 135,829$ 135,829$ 122,277$ 122,277
Severance chargesSeverance charges 705705 275275 1,0861,086 1,4461,446
June 24,June 24, 20122012
June 30,June 30,20132013
Other chargesOther charges 6,8406,840 1,0221,022 8,7678,767 1,9101,910
Other chargesOther charges 1,0221,0226,8406,840 1,9101,9108,7678,767