| Income Statement for Westwood One Inc. (WON) | | | | | | | Income | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Operating Revenue | 451,384 | 493,995 | 557,830 | 562,246 | 539,226 | | Adjustments to Revenue | - | - | - | - | - | | Cost of Revenue | (349,959) | (378,160) | (371,944) | (368,925) | (350,582) | | Gross Operating Profit | 101,425 | 115,835 | 185,886 | 193,321 | 188,644 | | | Selling/General/Admin Expense | (13,171) | (14,784) | (9,463) | (8,606) | (7,106) | | Research & Development | - | - | - | - | - | | EBITDA | 88,254 | 101,051 | 176,423 | 184,715 | 181,538 | | Depreciation & Amortization | (20,321) | (21,115) | (21,159) | (19,138) | (11,513) | | EBIT | 67,933 | 79,936 | 155,264 | 165,577 | 170,025 | | Interest Income | - | - | - | - | - | | Other Income, Net | 411 | 926 | 1,440 | 948 | 52 | | Total Income Avail For Interest Expense | 63,718 | (435,054) | 156,704 | 166,525 | 170,077 | | Interest Expense | (23,626) | (25,590) | (18,315) | (11,911) | (10,132) | | Pre-Tax Income | 40,092 | (460,644) | 138,389 | 154,614 | 159,945 | | Income Taxes | (15,724) | (8,809) | (53,706) | (59,124) | (59,906) | | Minority Interest | - | - | - | - | - | | Net Income from Continuing Operations | 24,368 | (469,453) | 84,683 | 95,490 | 100,039 | | Net Income from Discontinued Operations | - | - | - | - | - | | Net Income from Total Operations | 24,368 | (469,453) | 84,683 | 95,490 | 100,039 | | | Normalized Income | 28,994 | 46,463 | 84,683 | 95,490 | 100,039 | | Extraordinary Income | - | - | - | - | - | | Special Income/Charges | (4,626) | (515,916) | - | - | - | | Income from Cum. Effect of Acct Change | - | - | - | - | - | | Income from Tax Loss Carryforward | - | - | - | - | - | | Other Gains | - | - | - | - | - | | Total Net Income | 24,368 | (469,453) | 84,683 | 95,490 | 100,039 | | | Results | in Dollars (Preferred Dividends in Thousands) | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Dividends Paid Per Share | 0.02 | 0.32 | 0.30 | 0.00 | 0.00 | | Preferred Dividends | - | - | - | - | - | | | Basic EPS from Continuing Operations | 0.28 | -5.44 | 0.93 | 0.98 | 0.99 | | Basic EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS from Total Operations | 0.28 | -5.44 | 0.93 | 0.98 | 0.99 | | | Diluted EPS from Continuing Operations | 0.28 | -5.44 | 0.93 | 0.97 | 0.97 | | Diluted EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS from Total Operations | 0.28 | -5.44 | 0.93 | 0.97 | 0.97 | | | |
