TABLE-World Access Q2 net shr profit $0.40 vs
loss $0.23
Reuters Company News - August 11, 2000 11:59
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ATLANTA, Aug 10 (Reuters) -
World Access Inc. and Subsidiaries
Summary consolidated financial data
(In thousands, except per share data)
3 months ended 6/30 6 months ended 6/30
2000 1999 2000 1999
(Unaudited)
Statement of
Operations Data:
Carrier services $281,744 $112,916 $521,000 $198,014
Retail services 24,315 --- 40,600 ---
Total Revenue 306,059 112,916 561,600 198,014
Cost of services 266,475 102,650 490,330 182,804
Selling, general and
administrative 27,562 4,905 51,338 8,674
Depreciation and network
amortization 3,772 1,175 9,323 2,434
Amortization
of intangibles 14,981 1,185 27,189 2,163
Restructuring
credit (3,995) --- (3,995) ---
Total Operating
Expenses 308,795 109,915 574,185 196,075
Operating Income
(Loss) (2,736) 3,001 (12,585) 1,939
Interest and
other income 6,635 689 9,254 872
Interest expense 14,027 1,976 28,572 4,315
Foreign exchange
gain (loss) (321) --- 211 ---
Income (Loss) From Continuing Operations Before Income
Taxes (10,449) 1,714 (31,692) (1,504)
Income tax
expense (benefit) 1,345 986 (2,115) 224
Income (Loss) From Continuing
Operations (11,794) 728 (29,577) (1,728)
Net income (loss) from discontinued
operations 225 3,539 (6,149) 8,148
Net gain (loss)on disposals of discontinued
operations 35,773 (12,342) 35,773 (12,342)
Net Income (Loss) 24,204 (8,075) 47 (5,922)
Preferred stock
dividends 531 413 1,163 413
Net Income (Loss) Available to Common
Stockholders $23,673 $(8,488) $(1,116) $(6,335)
Income (Loss) Per Common Share:
Basic:
Continuing
Operations $(0.20) $0.01 $(0.53) $(0.06)
Discontinued
Operations 0.60 (0.24) 0.51 (0.11)
Net Income (Loss) $0.40 $(0.23) $(0.02) $(0.17)
Diluted (a):
Continuing
Operations $(0.20) $0.01 $(0.53) $(0.06)
Discontinued
Operations 0.60 (0.24) 0.51 (0.11)
Net Income (Loss) $0.40 $(0.23) $(0.02) $(0.17)
Weighted Average Shares Outstanding:
Basic 60,126 36,375 57,658 36,232
Diluted 97,750 43,401 92,952 41,474
EBITDA Before Restructuring
Credit (b) $12,022 $5,361 $19,932 $6,536
EBITDA Before Restructuring Credit Per
Diluted Share (b) $0.12 $0.12 $0.21 $0.16
Cash Earnings
(Loss) (c) $2,656 $1,500 $(3,551) $22
Cash Earnings
(Loss) Per Fully Diluted Share (a)
$0.03 $0.03 $(0.06) $---
(a)For purposes of reporting loss amounts per diluted
share, potential common shares consisting of shares subject to
stock options and warrants, convertible notes and convertible
preferred stock are excluded as their effect would be
anti-dilutive. Therefore, the basic weighted average shares
were used in the computation of loss amounts per diluted
share.
(b)EBITDA from continuing operations before restructuring
credit consists of earnings (loss) before net interest
expense/income, income taxes, foreign exchange gains or losses,
depreciation and amortization.
(c)Cash earnings (loss) represents earnings (loss) from
continuing operations less preferred stock dividends and plus
amortization of intangibles. |
