-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LlnBdhjBq3LFxbwnbPPNjKAlyWLCofymU0B92iVI0Gd+bb9LdZ0FurwNva0eNveK dHXg8FLxNAOGm1ol+Lhp1w== 0000852807-03-000045.txt : 20031022 0000852807-03-000045.hdr.sgml : 20031022 20031022160516 ACCESSION NUMBER: 0000852807-03-000045 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031022 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031022 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AZTAR CORP CENTRAL INDEX KEY: 0000852807 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990] IRS NUMBER: 860636534 STATE OF INCORPORATION: DE FISCAL YEAR END: 0102 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12092 FILM NUMBER: 03952011 BUSINESS ADDRESS: STREET 1: 2390 E CAMELBACK RD STE 400 CITY: PHOENIX STATE: AZ ZIP: 85016-3452 BUSINESS PHONE: 6023814100 MAIL ADDRESS: STREET 1: 2390 E. CAMELBACK RD STE 400 CITY: PHOENIX STATE: AZ ZIP: 85016-3452 8-K 1 k8oct22.htm FORM 8K







SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
                   

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):
October 22, 2003
                 

AZTAR CORPORATION
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of
incorporation or
organization)

1-5440
(Commission File Number)

86-0636534
(I.R.S. Employer
Identification Number)


2390 East Camelback Road, Suite 400,
Phoenix, Arizona
(Address of principal executive offices)

  


85016
(Zip Code)


(602) 381-4100
(Registrant's telephone number, including area code)



Not Applicable
(Former name or former address, if changed since last report)

 

 

ITEM 7.

Financial Statements, Pro Forma Financial Information and Exhibits
 

(c)

Exhibits:
 

99

Press release dated October 22, 2003, announcing results for the third quarter ended October 2, 2003.

ITEM 12.

Results of Operations and Financial Condition

  
 

This Current Report on Form 8-K is being furnished to disclose the press release issued by the registrant on October 22, 2003. The purpose of the press release, which is furnished as Exhibit 99, was to announce the results for the third quarter ended October 2, 2003.
 

The information in this Current Report on Form 8-K, including the exhibit included herewith, is furnished pursuant to Item 12. and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, except as otherwise expressly stated in such filing.

 

SIGNATURES


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.
 

AZTAR CORPORATION



ROBERT M. HADDOCK       
Robert M. Haddock
President and
Chief Financial Officer

 

Date:  October 22, 2003



EXHIBIT INDEX

Exhibit
Number


Description

99

Press release dated October 22, 2003, announcing results for the third quarter ended October 2, 2003.


2

 EX-99 3 exhibit99.htm EXHIBIT99

Exhibit 99

AZTAR

News Release  

CONTACT: Joe Cole

602/381-4111

 

FOR IMMEDIATE RELEASE

AZTAR REPORTS THIRD-QUARTER 2003 RESULTS

        PHOENIX, Arizona - October 22, 2003 - Aztar Corporation (NYSE: AZR) today announced results for its fiscal third quarter of 2003. Highlights of the quarter, which ended on October 2, 2003, were:

  • Earnings per share of 46 cents, diluted, compared with 43 cents per share in the year-earlier quarter.
  • EBITDA of $48.6 million versus $49.8 million in the 2002 quarter.
  • EBITDA margin of 23.1 percent versus 22.8 percent in the 2002 quarter.
  • Operating income of $35.6 million compared with $36.9 million in the year-earlier quarter.
  • Net income of $16.9 million versus $16.6 million in the 2002 quarter.

      "We are less than five months away from opening the major expansion of our Tropicana Atlantic City, and the excitement level is growing," said Paul E. Rubeli, Aztar chairman of the board and chief executive officer. "The Quarter at Tropicana will bring a new dimension to Atlantic City. With over 40 new dining, entertainment, retail and spa outlets, The Quarter will create a compelling reason for Atlantic City gaming patrons to visit, and become regular customers, at Tropicana."

        The expanded Tropicana will feature many of the most well-known and successful brands in their categories. Regional restaurants including New York's Carmine's, Philadelphia's Cuba Libre, and Las Vegas' Red Square will join well-known national restaurants including P. F. Chang's China Bistro and the Palm Restaurant in making their Atlantic City debuts in The Quarter. Exciting entertainment venues will include The Sound of Philadelphia nightclub and restaurant, Ri-Ra Irish Pub music club and restaurant, The Comedy Stop Cabaret & Café, Planet Rose karaoke club, and The IMAX Theater. National apparel, accessory and lifestyle brands such as MONDI, Chico's, Brooks Brothers, and White House/Black Market, as well as unique, regional and fun-oriented retailers such as Melonie de France, Old Farmer's Almanac, Zeytinia New York's Gourmet Choice, and The Spy Store will round out The Quarter.

Aztar Third-Quarter 2003 Earnings Release
October 22, 2003                                                 Page 2

        When The Quarter's 40 new outlets are added to the property's existing outlets, the expanded Tropicana will offer over 60 dining, entertainment, retail and spa experiences. There will be more options under one roof than any other hotel or casino on the East Coast and three times more than any other property in the Atlantic City market. In addition to The Quarter, Tropicana will add 502 new hotel rooms for a total of 2,127 rooms; 45,000 square feet of additional meeting space for a total of 122,000 square feet; and a new 2,400-space parking garage bringing the total number of parking spaces to 5,547. The $245 million expansion will be completed in March 2004.

        The company recently completed enhancements to other areas of the Tropicana, including a major renovation of the Tropicana's Boardwalk façade and a new Grand Entryway on Brighton Avenue. The Marketplace at the Boardwalk, containing an additional 280 slot machines and an assortment of dining, entertainment and retail facilities, opened earlier this year.

Capital Expenditures

        In the third quarter of 2003, purchases of property and equipment totaled $39 million. Approximately $8 million of the total was spent on routine expenditures, and $31 million (including $2.4 million of capitalized interest) went for development.

Share Repurchase

        The company announced on December 11, 2002, that its board of directors had authorized management to make discretionary repurchases of up to 4.0 million shares of its common stock, or approximately 10 percent of common stock outstanding at that time. During the third quarter of 2003, the company purchased 615,271 shares at an average price of $17.88 per share, bringing the total purchased in the program to 3,205,776 shares at an average price of $14.42 per share. There were 34.1 million shares of common stock outstanding at the end of the third quarter of 2003.

Year-to-date Results

        For the first three quarters of 2003, the company reported EBITDA of $145.8 million, compared with $146.7 million in the year-earlier period; EBITDA margin was 23.2% compared with 23.1%. Operating income was $107.3 million compared with $108.6 million a year earlier. Net income for the first three quarters of 2003 was $49.2 million, equivalent to $1.33 per share, diluted, compared with $46.8 million and $1.19 per share, diluted, in the 2002 period.

Conference Call

        Our third-quarter 2003 earnings conference call will be broadcast live on the Internet beginning at 4:30 p.m. Eastern Daylight Time on Wednesday, October 22, 2003. Individuals may access the live audio webcast through our website at www.aztar.com. The call also will be available on replay through that website for one year following the call.

Aztar Third-Quarter 2003 Earnings Release
October 22, 2003                                                 Page 3

Selected Results ($ in millions, except ADR, which is Average Daily Rate)

                                                      

 

     

  Third Quarter  

  

                   

   

Year to Date

  

 

 

2003

  

 

2002

    

2003

  

 

2002

  

 

 

      

(unaudited)

    

    

(unaudited)

  
                                 

Tropicana Atlantic City

 

    

 

 

              

 

    

  

Revenue

 

$

111.9

 

 

$

122.6

    

$

331.7

  

 

$

347.4

  

EBITDA

 

$

31.5

 

 

$

34.1

    

$

90.8

  

 

$

94.7

  

Depreciation and amortization

 

$

7.6

 

 

$

7.3

    

$

22.6

  

 

$

21.6

  

Operating income

 

$

23.9

 

 

$

26.8

    

$

68.2

  

 

$

73.1

  

 

 

    

 

 

              

 

    

  

EBITDA margin

 

  

28.2

%

 

  

27.8

%

    

27.4

%

 

  

27.3

%

Operating income margin

 

  

21.4

%

 

  

21.9

%

    

20.6

%

 

  

21.0

%
                                 

Occupancy

 

  

96.5

%

 

  

97.0

%

    

94.7

%

 

  

95.8

%

ADR

 

$

94.98  

 

$

 90.26  

  

$

86.56  

 

$

86.22  

 

 

 

  

  

 

              

 

    

  

Tropicana Las Vegas

 

  

  

  

 

  

 

  

 

  

 

  

 

   

  

  

Revenue

 

$

39.5

  

 

$

37.3

    

$

116.3

  

 

$

112.6

  

EBITDA

 

$

7.0

  

 

$

5.5

    

$

19.8

  

 

$

18.0

  

Depreciation and amortization

 

$

1.7

  

 

$

1.7

    

$

5.0

  

 

$

5.1

  

Operating income

 

$

5.3

  

 

$

3.8

    

$

14.8

  

 

$

12.9

  

 

 

      

 

              

 

    

  

EBITDA margin

 

  

17.7

%

 

  

14.7

%

    

17.0

%

 

  

16.0

%

Operating income margin

 

  

13.4

%

 

  

10.2

%

    

12.7

%

 

  

11.5

%

 

 

      

 

              

 

    

  

Occupancy

 

  

97.8

%

 

  

94.4

%

    

98.2

%

 

  

94.9

%

ADR

 

$

70.24  

 

$

64.19  

  

$

69.95  

 

$

68.40  
                 

Ramada Express Laughlin

 

  

         

  

 

  

          

  

                   

  

          

  

  

   

         

  

Revenue

 

$

20.8

  

 

$

21.2

  

  

$

68.0

  

  

$

70.2

  

EBITDA

 

$

3.3

  

 

$

3.9

  

  

$

15.9

  

  

$

17.4

  

Depreciation and amortization

 

$

1.5

  

 

$

1.5

  

  

$

4.7

  

  

$

4.5

  

Operating income

 

$

1.8

  

 

$

2.4

  

  

$

11.2

  

  

$

12.9

  

 

 

    

  

 

    

  

      

  

      

  

EBITDA margin

 

  

15.9

%

 

  

18.4

%

    

23.4

%

    

24.8

%

Operating income margin

 

  

8.7

%

 

  

11.3

%

    

16.5

%

 

  

18.4

%

 

 

    

  

 

    

  

      

  

      

  

Occupancy

 

  

74.5

%

    

68.9

%

    

74.0

%

    

74.7

%

ADR

 

$

29.39  

 

$

32.37  

  

$

29.97  

  

$

32.01  
                 

 

Aztar Third-Quarter 2003 Earnings Release
October 22, 2003                                                 Page 4

                                                      

 

     

Third Quarter

  

                   

   

Year to Date

  

 

 

2003

  

 

2002

    

2003

  

 

2002

  

 

 

      

(unaudited)

    

    

(unaudited)

  
                                 

Casino Aztar Evansville

 

    

  

 

    

  

      

  

      

  

Revenue

 

$

32.3

  

 

$

31.0

  

  

$

94.1

  

  

$

86.3

  

EBITDA

 

$

9.4

  

 

$

8.4

  

  

$

27.3

  

  

$

23.0

  

Depreciation and amortization

 

$

1.5

  

 

$

1.7

  

  

$

4.1

  

  

$

4.7

  

Operating income

 

$

7.9

  

 

$

6.7

  

  

$

23.2

  

  

$

18.3

  

 

 

    

  

 

    

  

      

  

      

  

EBITDA margin

 

  

29.1

%

 

  

27.1

%

    

29.0

%

    

26.7

%

Operating income margin

 

  

24.5

%

 

  

21.6

%

    

24.7

%

 

  

21.2

%

 

 

    

  

 

    

  

      

  

      

  

Occupancy

 

  

88.1

%

 

  

88.6

%

    

85.6

%

    

83.8

%

ADR

 

$

62.30  

 

$

64.80  

  

$

64.21  

  

$

65.47  

 

 

    

  

 

    

  

      

  

      

  

Casino Aztar Caruthersville

 

    

  

 

    

  

      

  

      

  

Revenue

 

$

5.8

  

 

$

6.0

  

  

$

17.7

  

  

$

18.7

  

EBITDA

 

$

1.1

  

 

$

1.1

  

  

$

3.3

  

  

$

3.5

  

Depreciation and amortization

 

$

0.7

  

 

$

0.7

  

  

$

2.0

  

  

$

2.1

  

Operating income

 

$

0.4

  

 

$

0.4

  

  

$

1.3

  

  

$

1.4

  

 

 

    

  

 

    

  

      

  

      

  

EBITDA margin

 

  

19.0

%

 

  

18.3

%

    

18.6

%

    

18.7

%

Operating income margin

 

  

6.9

%

 

  

6.7

%

    

7.3

%

 

  

7.5

%

 

 

    

  

 

    

  

      

  

      

  

Corporate

 

    

  

 

    

  

      

  

      

  

EBITDA

 

$

( 3.7

)

 

$

( 3.2

)

  

$

( 11.3

)

  

$

( 9.9

)

Depreciation and amortization

 

$

0.0

  

 

$

0.0

  

  

$

0.1

  

  

$

0.1

  

Operating income

 

$

( 3.7

)

 

$

( 3.2

)

  

$

( 11.4

)

  

$

( 10.0

)
                                 

Consolidated

 

 

          

  

 

  

          

  

 

  

          

  

 

  

         

  

Revenue

 

$

210.3

 

 

$

218.1

    

$

627.8

  

 

$

635.2

  

EBITDA

 

$

48.6

 

 

$

49.8

    

$

145.8

  

 

$

146.7

  

Depreciation and amortization

 

$

13.0

 

 

$

12.9

    

$

38.5

  

 

$

38.1

  

Operating income

 

$

35.6

 

 

$

36.9

    

$

107.3

  

 

$

108.6

  

Net income

 

$

16.9

 

 

$

16.6

    

$

49.2

  

 

$

46.8

  
                                 

EBITDA margin

 

  

23.1

%

 

  

22.8

%

    

23.2

%

 

  

23.1

%

Operating income margin

 

  

16.9

%

 

  

16.9

%

    

17.1

%

 

  

17.1

%

Net income margin

    

8.0

%

    

7.6

%

    

7.8

%

    

7.4

%


EBITDA Explanation and Reconciliation

EBITDA should not be construed as a substitute for either operating income or net income as they are determined in accordance with generally accepted accounting principles (GAAP). EBITDA information has been included because we believe it is a commonly used measure of operating performance in the gaming industry and an important basis for the valuation of gaming companies.

Aztar Third-Quarter 2003 Earnings Release
October 22, 2003                                                 Page 5

Accordingly, we use EBITDA as the primary operating performance measure in our bonus programs for executive officers. We also use EBITDA to evaluate the operating performance of our properties. The company has significant expenses, including depreciation and amortization, interest expense net of interest income, and income taxes, which are not reflected in EBITDA; we believe that the performance of our operating units is more appropriately measured before these expenses, since the allocation of capital in our company is decided by corporate management and is subject to the approval of the board of directors. In addition, we manage cash and finance our operations at the consolidated level and we file a consolidated income tax return. We do not consider EBITDA in isolation. Our calculation of EBITDA may not be comparable to similarly titled measures reported by other companies. A reconciliation of EBITDA with operating income and net income as determined in accordance with GAAP is shown below (in millions).

                                                      

 

     

Third Quarter

  

                   

   

Year to Date

  

 

 

2003

  

 

2002

    

2003

  

 

2002

  

 

 

      

(unaudited)

    

    

(unaudited)

  
                                 

EBITDA

  

$

48.6

    

$

49.8

    

$

145.8

    

$

146.7

  

Depreciation and amortization

  

    ( 13.0

)

  

    ( 12.9

)

  

    ( 38.5

)

  

    ( 38.1

)

Operating income

    

35.6

      

36.9

      

107.3

      

108.6

  

Interest income

    

0.2

      

0.2

      

0.5

      

0.9

  

Interest expense

    

( 8.8

)

    

( 10.3

)

    

( 27.6

)

    

( 31.4

)

Equity in unconsolidated

                               
 

partnership's loss*

    

0.0

      

0.0

      

0.0

      

( 0.5

)

Income taxes

  

    ( 10.1

)

  

    ( 10.2

)

  

    ( 31.0

)

  

    ( 30.8

)

Net income

  

$

16.9

    

$

16.6

    

$

49.2

    

$

46.8

  



* The company's share of interest expense and depreciation and amortization.

Margins
Margins are calculated as a percentage of revenue.

Aztar is a publicly traded company that operates Tropicana Casino and Resort in Atlantic City, New Jersey, Tropicana Resort and Casino in Las Vegas, Nevada, Ramada Express Hotel and Casino in Laughlin, Nevada, Casino Aztar in Caruthersville, Missouri, and Casino Aztar in Evansville, Indiana.

# # #

The disclosures herein include statements that are 'forward looking' within the meaning of federal securities law. These forward-looking statements generally can be identified by phrases such as the company "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," "targets," or other words or phrases of similar import. Similarly, statements herein that describe the company's business strategy, outlook, objectives, plans, intentions or goals are also forward-looking statements. Such forward-looking information involves important risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. These risks and uncertainties include, but are not limited to, those relating to war and terrorist activities and other factors affecting discretionary consume r spending, economic conditions, the impact of new competition including the Borgata, which opened in Atlantic City in July 2003, our ability to complete the Tropicana Atlantic City expansion on budget and on time, the success of "The Quarter," the ongoing benefit of dockside gaming in Indiana, our ability to execute our development plans, estimates of development

Aztar Third-Quarter 2003 Earnings Release
October 22, 2003                                                 Page 6

costs and returns on development capital, weather, litigation outcomes, judicial actions, legislative matters and referenda including the potential legalization of gaming in Maryland, New York and Pennsylvania, and taxation including potential tax increases in Indiana, Missouri, Nevada and New Jersey. For more information, review the company's filings with the Securities and Exchange Commission, including the company's annual report on Form 10-K for January 2, 2003 and certain registration statements of the company.

 

 

Aztar Corporation and Subsidiaries
Consolidated Statements of Operations (unaudited)
For the periods ended October 2, 2003 and October 3, 2002
(in thousands, except per share data)

                                                                                     

 

          Third Quarter         

 

  

           Nine Months         

  

 

 

     2003     

 

  

     2002     

 

  

     2003     

 

  

     2002     

  

Revenues

  

 

               

 

 

 

               

 

 

 

               

 

 

 

               

  

    

Casino

 

$

164,748

 

  

$

175,137

 

  

$

496,084

 

  

$

504,777

  

    

Rooms

 

  

20,885

 

    

18,432

 

    

58,580

 

    

57,463

  

 

Food and beverage

 

  

13,845

 

    

14,099

 

    

42,872

 

    

42,700

  

 

Other

 

       10,789

 

  

       10,438

 

  

       30,266

 

  

       30,261

  

 

  

 

210,267

 

  

218,106

 

  

627,802

 

  

635,201

  

Costs and expenses

 

    

 

      

 

      

 

        

 

Casino

 

  

70,224

 

    

73,370

 

    

211,399

 

    

211,660

  

 

Rooms

 

  

10,570

 

    

9,796

 

    

30,039

 

    

29,548

  

 

Food and beverage

 

  

13,124

 

    

13,421

 

    

40,562

 

    

40,442

  

 

Other

 

  

7,699

 

    

8,436

 

    

22,925

 

    

24,585

  

 

Marketing

 

  

18,809

 

    

21,782

 

    

57,613

 

    

61,393

  

 

General and administrative

 

  

19,596

 

    

19,090

 

    

57,231

 

    

57,200

  

 

Utilities

 

  

5,650

 

    

5,231

 

    

13,873

 

    

12,987

  

 

Repairs and maintenance

 

  

6,168

 

    

6,153

 

    

18,607

 

    

18,910

  

 

Provision for doubtful accounts

 

  

435

 

    

492

 

    

1,186

 

    

1,860

  

 

Property taxes and insurance

 

  

7,299

 

    

7,600

 

    

22,255

 

    

20,169

  

 

Rent

 

  

2,111

 

    

2,949

 

    

6,385

 

    

9,749

  

 

Depreciation and amortization 

 

       12,971

 

  

       12,854

 

  

       38,473

 

  

       38,061

  

 

 

 

     174,656

 

  

     181,174

 

  

     520,548

 

  

     526,564

  

 

 

    

 

      

 

      

 

        

Operating income

 

  

35,611

 

    

36,932

 

    

107,254

 

    

108,637

  

 

 

    

 

      

 

      

 

        

 

Interest income

 

  

153

 

    

219

 

    

549

 

    

860

  

 

Interest expense

 

  

( 8,774

)

    

( 10,349

)

    

( 27,540

)

    

( 31,439

)

 

Equity in unconsolidated partnership's loss

 

               --

 

  

               --

 

  

               --

 

  

          ( 458

)
                           

Income before income taxes

 

  

26,990

 

    

26,802

 

    

80,263

 

    

77,600

  

 

 

    

 

      

 

      

 

        

 

Income taxes

 

     ( 10,088

)

  

     ( 10,233

)

  

     ( 31,025

)

  

     ( 30,794

)
                           

Net income

 

$

16,902

 

  

$

16,569

 

  

$

49,238

 

  

$

46,806

  

    

 

 

========

    

========

 

  

========

 

  

========

  

 

 

    

 

      

 

      

 

        

Net income per common share

 

$

.48

 

  

$

.44

 

  

$

1.38

 

  

$

1.24

  

 

 

    

 

      

 

      

 

        

Net income per common share assuming dilution

 

$

.46

 

  

$

.43

 

  

$

1.33

 

  

$

1.19

  

 

 

    

 

      

 

      

 

        

Weighted-average common shares applicable to:

 

    

 

      

 

      

 

        

 

Net income per common share

 

  

34,620

 

    

37,310

 

    

35,275

 

    

37,163

  

    

Net income per common share assuming dilution

 

  

36,321

 

    

38,726

 

    

36,745

 

    

38,944

  

 

 

    

 

      

 

      

 

        

 

 


Aztar Corporation and Subsidiaries
Consolidated Balance Sheet Summaries (unaudited)
 (in thousands)

                                                                                      

October 2, 2003

  

January 2, 2003

Assets

 

                 

    

                  

 

  

Cash and cash equivalents

 

$

39,889

    

$

52,896

 

  

Other current assets

 

          52,451

    

           56,376

 

  

  

Total current assets

 

  

92,340

    

 

109,272

 

  

Investments

 

  

19,111

    

 

17,420

 

  

Property and equipment

 

  

1,100,232

    

 

1,025,059

 
 

Intangible assets

    

60,985

      

53,625

  

  

Other assets

 

          11,771

    

             5,306

 

  

 

$

1,284,439

    

$

1,210,682

 

  

 

=========

    

=========

 

  

 

        

 

  

 

Liabilities and Shareholders' Equity 

 

        

 

  

 

  

Current portion of long-term debt

 

$

17,007

    

$ 

5,015

 

  

Other current liabilities

 

        116,640

    

         114,606

 

  

  

Total current liabilities

 

  

133,647

    

 

119,621

 
 

Long-term debt

    

573,314

      

524,066

  
 

Other long-term liabilities

    

50,223

      

46,040

  

  

Series B convertible preferred stock

 

  

5,352

    

 

5,601

 

  

Shareholders' equity

 

        521,903

    

         515,354

 

  

 

$

1,284,439

    

$

1,210,682

 

  

 

=========

    

=========

 
-----END PRIVACY-ENHANCED MESSAGE-----