| QUARTERLY REVIEW |
(In thousands, except per share amounts)
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First |
Second |
Third |
Fourth |
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1999 |
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Revenues |
$ |
191,811 |
$ |
199,554 |
$ |
191,879 |
$ |
212,164 |
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|
Operating Income |
21,886 |
30,194 |
25,577 |
32,709 |
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|
Income from continuing operations before extraordinary item |
6,908 |
11,964 |
25,628 |
25,447 |
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|
Discontinued Cable operations |
4,398 |
4,492 |
4,818 |
798,989 |
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Extraordinary item |
— |
— |
— |
(1,328 |
) |
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Net income |
11,306 |
16,456 |
30,446 |
823,108 |
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Income per share from continuing operations before extraordinary item |
0.26 |
0.45 |
0.97 |
0.96 |
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Income per share from continuing operations before extraordinary item — assuming dilution |
0.26 |
0.44 |
0.96 |
0.95 |
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|
Net income per share before extraordinary item |
0.42 |
0.62 |
1.15 |
31.20 |
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Net income per share before extraordinary item — assuming dilution |
0.42 |
0.61 |
1.14 |
30.77 |
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Shares traded |
1,840 |
4,382 |
4,676 |
3,787 |
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Stock price range |
$ |
44.50-53.50 |
$ |
44.31-59.50 |
$ |
46.13-53.94 |
$ |
46.75-55.75 |
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Quarterly dividend paid |
$ |
0.15 |
$ |
0.15 |
$ |
0.15 |
$ |
0.15 |
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1998 |
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Revenues |
$ |
196,034 |
$ |
211,519 |
$ |
197,172 |
$ |
212,211 |
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|
Operating income |
25,446 |
36,446 |
26,243 |
37,155 |
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Income from continuing operations |
8,923 |
17,265 |
10,103 |
17,146 |
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Discontinued Cable operations |
3,822 |
4,276 |
4,352 |
4,987 |
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Net income |
12,745 |
21,541 |
14,455 |
22,133 |
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Income per share from continuing operations |
0.34 |
0.65 |
0.38 |
0.64 |
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Income per share from continuing operations — assuming dilution |
0.33 |
0.64 |
0.37 |
0.63 |
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|
Net income per share |
0.48 |
0.81 |
0.54 |
0.83 |
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Net income per share — assuming dilution |
0.47 |
0.80 |
0.54 |
0.82 |
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Shares traded |
3,030 |
2,087 |
2,127 |
1,947 |
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Stock price range |
$ |
40.94-50.50 |
$ |
43.75-52.50 |
$ |
40.50-52.00 |
$ |
33.88-50.63 |
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Quarterly dividend paid |
$ |
0.14 |
$ |
0.14 |
$ |
0.14 |
$ |
0.14 |
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- Media General, Inc., Class A common stock is listed on the American Stock Exchange under the symbol MEG.A. The approximate number of equity security holders of record at February 29, 2000, was: Class A common — 2,134, Class B common — 12.
- The Company sold its Cable Television operations in the fourth quarter 1999 and reported an after-tax gain of $799 million. The prior year has been restated to reflect the Cable operations as discontinued.
- Third quarter 1999 results include a $19 million after-tax gain on the sale of half the Company’s common stock of Denver Newspapers, Inc.
- Fourth quarter 1999 results include an extraordinary item of $1.3 million ($0.05 per share), net of a tax benefit of $800 thousand, representing the cost associated with the termination of interest rate swaps.
