UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

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**FORM 8-K**

 

CURRENT REPORT

 

Pursuant to Section 13 OR 15(d) of The

Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): March 15, 2007

 

|   | **GENERAL COMMUNICATION, INC.**                        |   |
|--------|--------------------------------------------------------|--------|
|   | (Exact name of registrant as specified in its charter) |   |

 

|   | **State of Alaska**             |   | **0-15279**            |   | **92-0072737**      |   |
|--------|---------------------------------|--------|------------------------|--------|---------------------|--------|
|   | (State or other Jurisdiction of |   | Commission File Number |   | (I.R.S Employer     |   |
|   | Incorporation or organization)  |   |                   |   | Identification No.) |   |

 

|   |   | **2550 Denali Street** |   |   |   |  
 

 

**Suite 1000**

 

 

 

 
 

 

**Anchorage, Alaska**

 

**99503**

 

 
 

(Address of Principal Executive offices)

 

(Zip Code)

 

 
 

 

 

 

 

 

 

 

Registrant’s telephone number, including area code: (907) 868-5600

 

 

NONE

 

 

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

 

**Section 2 – Financial Information**

 

**Item 2.02**

**Results of Operations and Financial Condition**

 

On March 15, 2007, General Communication, Inc. (GCI) issued a press release announcing earnings for the three months and year ended December 31, 2006.  A copy of the press release is attached as Exhibit 99.1.

 

The information in this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

 

The earnings release attached as Exhibit 99.1 discloses the non-GAAP financial measure of EBITDAS (Earnings Before Interest, Taxes, Depreciation, Amortization, and Share-based Compensation Expense) for the year ended December 31, 2006 and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for the year ended December 31 2005.  EBITDAS and EBITDA have been reconciled to the closely related GAAP financial measure, Net Income, within the earnings release.

 

EBITDAS is the sum of Net Income, Interest Expense, Amortization of Loan and Senior Notes Fees, Interest Income, Income Tax Expense, Depreciation and Amortization Expense, and Share-based Compensation Expense.  EBITDA is the sum of Net Income, Interest Expense, Amortization of Loan and Senior Notes Fees, Interest Income, Income Tax Expense, and Depreciation and Amortization Expense.  EBITDAS and EBITDA are not presented as alternative measures of net income, operating income or cash flow from operations, as determined in accordance with accounting principles generally accepted in the United States of America.  GCI's management uses EBITDAS and EBITDA to evaluate the operating performance of its business, and as measures of performance for incentive compensation purposes.  GCI believes EBITDAS and EBITDA are measures used as an analytical indicator of income generated to service debt andfund capital expenditures.  In addition, multiples of current or projected EBITDAS and EBITDA are used to estimate current or prospective enterprise value.  EBITDAS and EBITDA do not give effect to cash used for debt service requirements, and thus do not reflect funds available for investment or other discretionary uses.  EBITDAS and EBITDA as presented herein may not be comparable to similarly titled measures reported by other companies.

 

 

 

**Section 9 – Financial Statements and Exhibits**

 

**Item 9.01 Financial Statements and Exhibits**

 

(a) Financial statements of businesses acquired: Not Applicable

 

(b) Pro forma financial information: Not Applicable

 

(c) Exhibit:

 

99.1 Press release issued by General Communication, Inc. on March 15, 2007

 

 

**SIGNATURE**

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

GENERAL COMMUNICATION, INC.

 

 

 

(Registrant)

 

 

 

 

Date: March 15, 2007

 

 

 

 

 

 

 

 

 

By

/s/ John M. Lowber

 

 

 

Name: John M. Lowber

 

 

 

Title:  Senior Vice President,

 

 

 

Chief Financial Officer,

 

 

 

Secretary and Treasurer

 

 

 

(Principal Financial Officer)

 

 

**Exhibit Index**

 

**Exhibit No.**

**Description**

99.1

Press release issued by General Communication, Inc. on March 15, 2007

 

 

 

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