Dobson Communications Reports Third Quarter 2007 Results

Oklahoma City, Oklahoma, UNITED STATES


OKLAHOMA CITY, Nov. 8, 2007 (PRIME NEWSWIRE) -- Dobson Communications Corporation (Nasdaq:DCEL) today announced its operating results for the third quarter ended September 30, 2007.

Dobson reported net income applicable to common shareholders of $24.9 million, or $0.14 per share, for the third quarter of 2007. (See Table 1.) For the third quarter of 2006, Dobson reported net income applicable to common shareholders of $25.9 million, or $0.15 per share. Net income for the third quarter of 2007 included an income tax expense of $29.1 million, compared with an income tax benefit of $7.9 million for the third quarter of 2006.

EBITDA for the third quarter of 2007 was $153.5 million, an increase of 23.0 percent over EBITDA of $124.7 million for the third quarter of 2006. Please see Table 3 for the reconciliation of EBITDA to GAAP measures.

Service revenue for the third quarter of 2007 was $274.8 million, an increase of 18.3 percent over service revenue of $232.3 million in the third quarter of 2006. Average revenue per unit (ARPU) was $52.54 for the third quarter of 2007, compared with ARPU of $49.16 for the third quarter in 2006. Data revenue contributed $7.03 to ARPU in the third quarter of 2007, compared with $4.34 in the third quarter of 2006.

Roaming revenue was $98.0 million in the third quarter of 2007, an increase of 12.2 percent over the same period of 2006. Roaming traffic totaled 1.0 billion minutes of use (MOUs) for the third quarter of 2007, a 23.0 percent increase over the third quarter of 2006. Blended roaming yield was 9.4 cents for the third quarter of 2007.

Dobson noted that third quarter total revenue was 16.6 percent higher than that for the third quarter of 2006. Driving even stronger growth in EBITDA was the fact that total operating expenses grew by only 12.8 percent, despite the recognition of $10.5 million in merger-related costs, most of which were included in general and administrative expense. On June 29, 2007, Dobson Communications announced its agreement to be acquired by AT&T Inc. (NYSE:T).

Cost of service expense was $102.2 million in the third quarter of 2007, compared with $88.8 million for the third quarter of 2006. Incollect (off-network) expense was $28.6 million for the third quarter of 2007, compared with incollect expense of $22.3 million for the third quarter of 2006.

Marketing and selling expense was $43.5 million for the third quarter of 2007, compared with $42.2 million for the third quarter last year.

General and administrative expense was $59.1 million in the third quarter of 2007, compared with $47.5 million for the third quarter of 2006.

Subscriber growth

Dobson reported total gross subscriber additions of 186,500 for the third quarter of 2007, compared with 139,500 gross additions in the third quarter of 2006. (See Table 3.)

Postpaid gross additions were 98,200 for the third quarter of 2007, compared with 92,100 postpaid gross additions for the third quarter of 2006.

Postpaid customer churn was 2.01 percent in the third quarter of 2007, compared with 1.95 percent for the third quarter last year.

Consequently, Dobson reported 49,100 net subscriber additions in the third quarter of 2007, comprised of 8,200 postpaid customers, 5,500 prepaid customers, and 35,400 reseller customers. In the third quarter of 2006, Dobson reported 23,500 net additional subscribers, which included the addition of 11,300 postpaid customers, the addition of 14,500 prepaid customers, and a reduction of 2,300 reseller customers. The Company also acquired 1,400 customers during last year's third quarter through two acquisitions in Alaska.

At the end of the third quarter of 2007, 95.3 percent of total customers were on GSM calling plans, compared with 85.8 percent at the end of the third quarter of 2006. Dobson recently mailed letters to its remaining TDMA and analog customers encouraging them to switch to GSM service before March 1, 2008 to avoid interruption of their mobile service. The Company plans to cease offering service on its TDMA and analog networks after that date.

Capital expenditures for the third quarter of 2007 were $20.0 million, reflecting the addition of 42 cell sites to Dobson's network and other capital improvements. Between its two principal operating subsidiaries, Dobson Cellular's capital expenditures were $9.9 million, compared with $10.2 million at American Cellular. As of September 30, 2007, Dobson's total network included 3,257 cell sites.

Dobson's balance sheet at September 30, 2007 included $250.0 million in cash, $4.4 million in restricted investments and $1.0 million in short-term investments; $2.7 billion in total debt; and $115.2 million in preferred stock.

Other matters

Given its pending acquisition by AT&T, Dobson will not conduct a conference call to discuss its third quarter results. For further analysis of quarterly results, please see the Company's quarterly report on Form 10-Q, which Dobson plans to file Friday, November 9, 2007.

On November 5, 2007, Dobson received notice that the U.S. District Court for the District of Columbia had preliminarily approved a consent decree filed by the U.S. Department of Justice that allows the merger to proceed while requiring that AT&T divest Dobson's operations in three rural service areas -- one in Oklahoma and two in Kentucky -- and the Cellular One brand name that Dobson currently owns, as previously announced. Final approval of the decree will occur after a mandated notice and comment period, but the parties are allowed to close the transaction in the interim.

A review of the merger of Dobson with AT&T is pending with the Federal Communications Commission ("FCC"). Dobson is hopeful that the approval process with the FCC will be completed and expects to close promptly after receipt of that approval. There can be no assurance, however, that the merger will become effective. The merger may become effective this year, on a later date, or not at all, and is subject to the satisfaction or waiver of all of the conditions to closing set forth in the Agreement and Plan of Merger dated June 29, 2007, among Dobson, AT&T Inc. and Alpine Merger Sub, Inc.

Dobson Communications is a leading provider of wireless phone services to rural and suburban markets in the United States. Headquartered in Oklahoma City, the Company owns wireless operations in 17 states. For additional information, please visit its web site at www.dobson.net.

The description of our plans and expectations set forth herein are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These plans and expectations involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the plans and expectations include, without limitation, our ability to complete in a timely fashion the merger with AT&T, our substantial leverage and debt service requirements, our ability to satisfy the financial covenants of our outstanding debt instruments and to raise additional capital, our ability to manage our business successfully and to compete effectively in our wireless business against competitors with greater financial, technical, marketing and other resources, changes in end-user requirements and preferences, the development of other technologies and products that may gain more commercial acceptance than those of ours, terms in our roaming agreements, and adverse regulatory changes. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update or revise these forward-looking statements to reflect events or circumstances after the date hereof including, without limitation, changes in our business strategy or expected capital expenditures, or to reflect the occurrence of unanticipated events.



 Table 1
 
 Dobson Communications Corporation
 Statements of Operations

                     Three Months Ended            Nine Months Ended
                        September 30,                September 30,
                  -------------------------   -------------------------
                     2007          2006          2007           2006
                  -----------   -----------   -----------   -----------
                         ($ in thousands except per share data)
                                       (unaudited)
 Operating
  Revenue
   Service
    revenue      $   274,831   $   232,324   $   793,557   $   671,679
   Roaming
    revenue           98,015        87,365       236,490       213,188
   Equipment 
    and
    other 
    revenue           19,310        16,681        56,698        51,161
                 -----------   -----------   -----------   -----------
     Total           392,156       336,370     1,086,745       936,028
                 -----------   -----------   -----------   -----------

 Operating
  Expenses
  (excluding
  depreciation
  and
  amortization)
   Cost of
    service
    (exclusive
    of
    depreciation
    and
    amortization
    shown
    separately
    below)           102,214        88,809       292,384       246,385
   Cost of
    equipment         33,815        33,152       101,860       102,267
   Marketing and
    selling           43,548        42,155       131,890       121,274
   General and
    administrative    59,105        47,527       158,756       141,596
                 -----------   -----------   -----------   -----------
     Total           238,682       211,643       684,890       611,522
                 -----------   -----------   -----------   -----------

 EBITDA (a)          153,474       124,727       401,855       324,506

   Gain on
    disposition
    of operating
    assets             1,567         1,566         4,700         4,823
   Depreciation
    and
    amortization     (44,234)      (47,776)     (142,866)     (146,206)
                  -----------   ------------ -----------   -----------
 Operating 
  income             110,807        78,517       263,689       183,123

   Interest
    expense          (55,762)      (57,840)     (169,849)     (172,661)
   Loss on
    redemption
    of
    mandatorily
    redeemable
    preferred
    stock                 --            --            --        (1,482)
   Dividends on
    mandatorily
    redeemable
    preferred
    stock                 --            --            --          (709)
   Loss from
    extinguish-
    ment of debt          --            --       (57,578)      (12,717)
   Other income,
    net                2,947         1,810         6,991         5,345
   Minority
    interests in
    income of
    subsidiaries      (2,724)       (2,447)       (7,459)       (6,980)
                 -----------   ------------ -----------   -----------
 Income (loss)
  before income
  taxes               55,268        20,040        35,794        (6,081)
   Income tax
    (expense)
    benefit          (29,064)        7,939       (22,086)       17,120
                 -----------   -----------   -----------   -----------
 Net income           26,204        27,979        13,708        11,039
   Dividends on
    preferred
    stock             (1,256)       (2,036)       (5,326)       (6,785)
                  -----------   ------------ -----------   -----------
 Net income
  applicable
  to common
  stockholders   $    24,948   $    25,943   $     8,382   $     4,254
                 ===========   ===========   ===========   ===========

 Basic net
  income
  applicable to
  common
  stockholders
  per common
  share          $      0.14   $      0.15   $      0.05   $      0.03
                 ===========   ===========   ===========   ===========

 Basic weighted
  average 
  common
  shares
  outstanding    172,638,721   170,482,730   171,775,323   169,996,467
                 ===========   ===========   ===========   ===========


 Diluted net
  income
  applicable to
  common
  stockholders
  per common
  share          $      0.13   $      0.14   $      0.05   $      0.02
                 ===========   ===========   ===========   ===========


 Diluted 
  weighted
  average 
  common
  shares
  outstanding 
  (b)            207,826,514   205,190,796   177,110,691   173,042,182
                 ===========   ===========   ===========   ===========

 (a) EBITDA is defined as net income before gain on disposition of
     operating assets, depreciation and amortization, interest
     expense, loss on redemption of mandatorily redeemable preferred
     stock, dividends on mandatorily redeemable preferred stock, loss
     from extinguishment of debt, other income, net, minority interest
     in income of subsidiaries and income tax (expense) benefit. We
     believe that EBITDA provides meaningful additional information
     concerning a company's operating results and its ability to
     service its long- term debt and other fixed obligations and to
     fund its continued growth. Many financial analysts consider
     EBITDA to be a meaningful indicator of an entity's ability to
     meet its future financial obligations, and they consider growth
     in EBITDA to be an indicator of future profitability, especially
     in a capital intensive industry such as wireless communications.
     You should not construe EBITDA as an alternative to net loss as
     determined in accordance with generally accepted accounting
     principles, or GAAP, as an alternative to cash flows from
     operating activities in accordance with GAAP or a measure of
     liquidity. Because EBITDA is not calculated in the same manner by
     all companies, it may not be comparable to other similarly titled
     measures of other companies.


 (b) For the three months ended September 30, 2007, dilutive shares
     include potentially dilutive shares from option grants, our
     series F convertible preferred stock and our convertible debt.
     For the nine months ended September 30, 2007, dilutive shares
     include potentially dilutive shares from option grants. Our
     series F convertible preferred stock and our convertible debt is
     anti-dilutive for the nine months ended September 30, 2007.

 Table 2

 Dobson Communications Corporation
 Selected Balance Sheet and Statistical Data

                                                Sept 30,       Dec 31,
 Balance Sheet Data:                              2007          2006
                                                --------      --------
                                                    ($ in millions)
                                                (unaudited)

  Cash and cash equivalents (unrestricted) (a)  $  250.0      $  117.1
  Restricted investments                        $    4.4      $    4.4
  Short-term investments                        $    1.0      $    5.0
                                                              
  Debt:                                                       
    DCC Senior Floating Rate Notes              $  150.0      $  150.0
    DCC Senior Convertible Debentures              160.0         160.0
    DCS 8.375% Senior Notes                        509.4         511.2
    DCS 9.875% Senior Notes                        325.0         325.0
    DCC 8.875% Senior Notes                        419.7         419.7
    ACC Credit Facility                            897.8         124.7
    ACC 9.5% Senior Notes, net                      16.6          15.8
    ACC 10.0% Senior Notes                         185.7         900.0
                                                --------      --------
      Total debt                                $2,664.2      $2,606.4
                                                ========      ========
                                                              
   Preferred Stock:                                           
                                                --------      --------
      Series F Preferred Stock (b)              $  115.2      $  135.7
                                                ========      ========
                                                               
                                                            


                                                  Nine Months Ended 
                                                        Sept 30,
                                                ----------------------
                                                  2007          2006
                                                --------      --------
                                                   ($ in millions)
 Capital Expenditures:                          $   99.3      $  116.5
                                                ========      ========

 (a) Includes $50.8 million and $36.5 million of cash and cash
     equivalents from American Cellular Corporation at September 30,
     2007 and December 31, 2006, respectively.

 (b) As of September 30, 2007, 114,745 shares of the Series F
     convertible preferred stock had been voluntarily converted into
     2,341,727 shares of Class A Common Stock. Subsequent to September
     30, 2007, the remaining shares of Series F convertible preferred
     stock were either voluntarily converted into Class A common stock
     or redeemed on or before October 4, 2007.

 Table 3
 
 Dobson Communications Corporation

                                 For the Quarter Ended
               9/30/2007   6/30/2007   3/31/2007   12/31/2006  9/30/2006
                     ($ in thousands except per subscriber data)
                                     (unaudited)
 Operating 
  Revenue
   Service 
     revenue  $  274,831  $  264,781  $  253,945  $  247,106  $  232,324
    Roaming
     revenue      98,015      76,525      61,950      70,089      87,365
    Equipment
     and
     other
     revenue      19,310      18,863      18,525      17,873      16,681
              ----------  ----------  ----------  ----------  ----------
      Total      392,156     360,169     334,420     335,068     336,370
              ----------  ----------  ----------  ----------  ----------

  Operating
   Expenses
  (excluding
   depreciation
   and
   amortization)
    Cost of
     service    102,214      96,933      93,237     94,558       88,809
    Cost of
     equipment   33,815      34,253      33,792     33,911       33,152
    Marketing
     and
     selling     43,548      45,497      42,845     43,854       42,155
    General
     and
     admini-
     strative    59,105      51,096      48,555      49,365      47,527
             ----------  -----------  ----------  ----------  ----------
     Total      238,682     227,779     218,429     221,688     211,643
             ----------  -----------  ----------  ----------  ----------

  EBITDA
   (a) (b)   $  153,474  $  132,390  $  115,991  $  113,380  $  124,727
             ==========  ===========  ==========  ==========  ==========

  Pops        12,672,900  12,672,900  12,672,900  12,672,900  12,052,700

  Postpaid
    Gross
     Adds        98,200      99,300      94,300      95,000      92,100
    Net
     Adds         8,200      22,900      12,900      15,100      11,300
    Sub-
     scribers 1,497,200   1,489,000   1,466,100   1,453,200   1,390,800
    Churn          2.01%       1.72%       1.86%       1.84%       1.95%

  Prepaid
    Gross
     Adds        34,300      32,200      28,600      39,700      33,300
    Net
     Adds         5,500       5,900       1,200      16,100      14,500
    Sub-
     scribers   120,100     114,600     108,700     107,500      88,500

  Reseller
    Gross
     Adds        54,000      27,100       9,800      11,100      14,100
    Net
     Adds        35,400      12,900      (4,200)     (3,100)     (2,300)
    Sub-
     scribers   150,300     114,900     102,000     106,200     109,300

  Total
    Gross
     Adds       186,500     158,600     132,700     145,800     139,500
    Net
     Adds        49,100      41,700       9,900      28,100      23,500
    Sub-
     scribers 1,767,600   1,718,500   1,676,800   1,666,900   1,588,600
    ARPU     $    52.54  $    52.15  $    50.73  $    49.92  $    49.16
    Penetra-
     tion          13.9%       13.6%       13.2%       13.2%       13.2%

 (a) Includes $2.7 million, $2.8 million, $2.6 million, $2.5 million
     and $2.7 million of EBITDA for the quarters ended September 30,
     2007, June 30, 2007, March 31, 2007, December 31, 2006 and
     September 30, 2006, respectively, related to minority interests.

 (b) A reconciliation of EBITDA to net income (loss) as determined in
     accordance with GAAP is as follows:

  Net income
   (loss)     $  26,204   $  18,102   $ (30,598)  $   1,742   $  27,979
  Add back
   non-
   EBITDA
   items
   included
   in net
   income
   (loss):
  De-
   preciation
   and
   amortization (44,234)    (48,453)    (50,179)    (50,097)    (47,776)
  Gain on
   disposition
   of
   operating
   assets         1,567       1,567       1,566       1,567       1,566
  Interest
   expense      (55,762)    (55,402)    (58,685)    (59,423)    (57,840)
  Loss on
   redemption
   of
   mandatorily
   redeemable
   preferred
   stock             --          --          --          --          --
  Loss from
   extinguish-
   ment of
   debt              --         (55)    (57,523)       (522)         --
  Other
   income,
   net            2,947       2,470       1,575       2,245       1,810
  Minority
   interests
   in income
   of
   subsidiaries  (2,724)     (2,436)     (2,299)     (2,248)     (2,447)
  Income tax
   (expense)
   benefit      (29,064)    (11,979)     18,956      (3,160)      7,939
              ---------   ---------   ---------   ---------   ---------
  EBITDA      $ 153,474   $ 132,390   $ 115,991   $ 113,380   $ 124,727
              =========   =========   =========   =========   =========
 
 Table 4

 Dobson Cellular Systems
                                For the Quarter Ended
               9/30/2007   6/30/2007   3/31/2007  12/31/2006   9/30/2006
                      ($ in thousands except per subscriber data)
                                     (unaudited)
 Operating
   Revenue
    Service
     revenue  $  164,585  $  158,486  $  150,476  $  146,198  $  140,711
    Roaming
     revenue      53,079      42,096      33,386      36,724      47,869
    Equipment
     and
     other
     revenue      15,594      15,309      15,305      15,351      14,701
              ----------  ----------  ----------  ----------  ----------
       Total     233,258     215,891     199,167     198,273     203,281
              ----------  ----------  ----------  ----------  ----------

  Operating
   Expenses
   (excluding
   de-
   preciation
   and
   amortiz-
   ation)
    Cost of
     service      61,716      57,805      56,601      55,703      55,018
    Cost of
     equipment    19,577      20,210      20,339      20,300      20,676
    Marketing
     and
     selling      25,200      26,310      24,865      25,752      25,007
    General
     and
     ad-
     ministrative 29,964      29,881      27,926      28,922      27,919
              ----------  ----------  ----------  ----------  ----------
       Total     136,457     134,206     129,731     130,677     128,620
              ----------  ----------  ----------  ----------  ----------

  EBITDA 
  (a) (b)     $   96,801  $   81,685  $   69,436  $   67,596  $   74,661
              ==========  ==========  ==========  ==========  ==========

  Pops         6,913,700   6,913,700   6,913,700   6,913,700   6,724,700

  Postpaid
    Gross
     Adds         57,000      58,800      55,900      58,900      58,200
    Net Adds       5,900      16,000      11,000      13,900      11,700
    Sub-
     scribers    844,400     838,500     822,500     811,500     797,600
    Churn           2.02%       1.72%       1.83%       1.87%       1.96%

  Prepaid
    Gross
     Adds         21,500      20,500      17,100      24,600      21,100
    Net Adds       3,400       3,700        (200)      8,900       9,200
    Sub-
     scribers     73,800      70,400      66,700      66,900      58,000

  Reseller
    Gross
     Adds         30,500      15,300       7,300       7,800       9,400
    Net Adds      20,400       7,800        (200)        400       1,300
    Sub-
     scribers     94,300      73,900      66,100      66,300      65,900

  Total
    Gross
     Adds        109,000      94,600      80,300      91,300      88,700
    Net Adds      29,700      27,500      10,600      23,200      22,200
    Sub-
     scribers  1,012,500     982,800     955,300     944,700     921,500
    ARPU      $    54.95  $    54.70  $    52.91  $    52.34  $    51.59
    Penetra-
     tion           14.6%       14.2%       13.8%       13.7%       13.7%

 (a) Includes $2.7 million, $2.8 million, $2.6 million, $2.5 million
     and $2.7 million of EBITDA for the quarters ended September 30,
     2007, June 30, 2007, March 31, 2007, December 31, 2006 and
     September 30, 2006, respectively, related to minority interests.

 (b) A reconciliation of EBITDA to net income (loss) as determined in
     accordance with GAAP is as follows:

  Net income
   (loss)     $   15,048  $   10,597  $    2,730  $     (293) $   10,851
  Add back
   non-EBITDA
   items
   included
   in net
   income
   (loss):
  Depreciation
   and
   amortization  (25,955)    (28,239)    (28,851)    (28,938)    (28,389)
  Gain on
   disposition
   of
   operating
   assets            850         851         850         851         850
  Interest
   expense       (37,858)    (37,603)    (37,367)    (37,943)    (38,232)
  Loss from
   extinguish-
   ment of
   debt               --          --          --        (522)         --
  Other
   income,
   net            (1,213)      3,253       2,651       3,052       2,030
  Minority
   interests
   in income
   of sub-
   sidiaries      (2,724)     (2,436)     (2,299)     (2,248)     (2,447)
  Income tax
   (expense)
   benefit       (14,853)     (6,914)     (1,690)     (2,141)      2,378
              ----------  ----------  ----------  ----------  ----------
  EBITDA      $   96,801  $   81,685  $   69,436  $   67,596  $   74,661
              ==========  ==========  ==========  ==========  ==========

 Table 5

 American Cellular Corporation

                             For the Quarter Ended
            9/30/2007   6/30/2007  3/31/2007   12/31/2006   9/30/2006
                  ($ in thousands except per subscriber data)
                                  (unaudited)

 Operating
 Revenue
  Service
   revenue $  110,246  $  106,295  $  103,469  $  100,908  $   91,613
  Roaming
   revenue     44,936      34,429      28,564      33,365      39,496
  Equip-
   ment
   and
   other
   revenue      7,036       6,875       6,541       6,123       5,583
           ----------  ----------  ----------  ----------  ----------
    Total     162,218     147,599     138,574     140,396     136,692
           ----------  ----------  ----------  ----------  ----------

 Operating
 Expenses
 (excluding
 deprecia-
 tion and
 amortiza-
 tion)
  Cost of
   service     42,427      41,057      38,565      40,711      35,648
  Cost of
   equip-
   ment        14,238      14,043      13,453      13,611      12,476
  Marketing
   and
   selling     18,863      19,330      18,004      18,066      17,198
  General
   and
   admini-
   strative    24,508      22,597      22,011      22,178      21,344
           ----------  ----------  ----------  ----------  ----------
    Total     100,036      97,027      92,033      94,566      86,666
           ----------  ----------  ----------  ----------  ----------

 EBITDA(a) $   62,182  $   50,572  $   46,541  $   45,830  $   50,026
           ==========  ==========  ==========  ==========  ==========

 Pops       5,759,200   5,759,200   5,759,200   5,759,200   5,328,000

 Postpaid
  Gross
  Adds         41,200      40,500      38,400      36,100      33,900
  Net Adds      2,300       6,900       1,900       1,200        (400)
  Sub-
   scribers   652,800     650,500     643,600     641,700     593,200
  Churn          1.99%       1.73%       1.90%       1.82%       1.93%

 Prepaid
  Gross
   Adds        12,800      11,700      11,500      15,100      12,200
  Net Adds      2,100       2,200       1,400       7,200       5,300
  Sub-
   scribers    46,300      44,200      42,000      40,600      30,500

 Reseller
  Gross Adds   23,500      11,800       2,500       3,300       4,700
  Net Adds     15,000       5,100      (4,000)     (3,500)     (3,600)
  Sub-
   scribers    56,000      41,000      35,900      39,900      43,400

 Total
  Gross Adds   77,500      64,000      52,400      54,500      50,800
  Net Adds     19,400      14,200        (700)      4,900       1,300
  Sub-
   scribers   755,100     735,700     721,500     722,200     667,100
  ARPU     $    49.31  $    48.76  $    47.88  $    46.78  $    45.85
  Penetra-
   tion          13.1%       12.8%       12.5%       12.5%       12.5%

 (a) A reconciliation of EBITDA to net income (loss) as determined in
     accordance with GAAP is as follows:

 Net income
  (loss)   $   13,184  $    4,089  $  (36,593) $   (1,359) $    4,483
 Add back
  non-
  EBITDA
  items
  included
  in net
  income
  (loss):
 Deprecia-
  tion
  and
  amortiza-
   tion       (18,235)    (20,171)    (21,284)    (21,115)    (19,343)
 Gain on
  disposi-
  tion
  of operat-
  ing
  assets          717         716         716         716         716
 Interest
  expense     (22,860)    (22,591)    (25,942)    (26,420)    (24,540)
 Loss from
  extinguish-
  ment of
  debt             --         (55)    (57,523)         --          --
 Other
  income
  (expense),
  net           3,735      (1,157)     (1,505)     (1,177)       (592)
 Income tax
  (expense)
  benefit     (12,355)     (3,225)     22,404         807      (1,784)
           ----------  ----------  ----------  ----------  ----------
 EBITDA    $   62,182  $   50,572  $   46,541  $   45,830  $   50,026
           ==========  ==========  ==========  ==========  ==========

        

Coordonnées