Three months ended
December 31,
1996 1996
As Reported Adjusted **
Revenues:
Online service revenues 351,220 351,220
Other revenues 58,192 58,192
Total revenues 409,412 409,412
Costs and expenses:
Cost of revenues 245,374 245,374
Marketing 146,777 102,353
Product development 21,673 21,673
General and administrative 48,810 48,810
Amortization of goodwill 1,589 1,589
Restructuring charge 74,327
Total costs and expenses 538,550 419,799
Income (loss) from operations (129,138) (10,387)
Other income (expense), net (1,367) (1,367)
Settlement charge (24,300)
Income (loss) before provision for
income taxes (154,805) (11,754)
Provision for income taxes
Net income (loss) $ (154,805)
Earnings (loss) per share $ (1.64) (.12)
Weighted average shares outstanding 94,284 94,284
* removed settlement charge and restructuring charge, and adjusted advertising expense to 25% of revenues,
which is the stated percentage management indicated will prevail going forward in the conference call.
This is intended as an indicator of normalized operations, if such a thing is possible at AOL.
Brian, the long one |
