<PAGE>
FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
[X] Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
For the quarterly period ended June 30, 1997
-------------
[_] Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from to
-------------- ------------
Commission File Number: 0-14689
JONES CABLE INCOME FUND 1-A, LTD.
- --------------------------------------------------------------------------------
Exact name of registrant as specified in charter
Colorado 84-1010416
- --------------------------------------------------------------------------------
State of organization I.R.S. employer I.D.#
9697 East Mineral Avenue, Englewood, Colorado 80112
----------------------------------------------------
Address of principal executive office
(303) 792-3111
-----------------------------
Registrant's telephone number
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
------ --------
<PAGE>
JONES CABLE INCOME FUND 1-A, LTD.
---------------------------------
(A Limited Partnership)
UNAUDITED BALANCE SHEETS
------------------------
<TABLE>
<CAPTION>
June 30, December 31,
ASSETS 1997 1996
------ ------------ -------------
<S> <C> <C>
CASH $ 57,536 $ 42,929
TRADE RECEIVABLES, less allowance for doubtful
receivables of $19,780 and $11,125 at June 30, 1997
and December 31, 1996, respectively 46,281 119,661
INVESTMENT IN CABLE TELEVISION PROPERTIES:
Property, plant and equipment, at cost 6,465,868 9,022,869
Less- accumulated depreciation (3,481,361) (4,794,646)
----------- -----------
2,984,507 4,228,223
Franchise costs and other intangible assets, net of
accumulated amortization of $4,975 and $723,631 at
June 30, 1997 and December 31, 1996, respectively 13,025 187,369
----------- -----------
Total investment in cable television properties 2,997,532 4,415,592
DEPOSITS, PREPAID EXPENSES AND DEFERRED CHARGES 113,550 32,502
----------- -----------
Total assets $ 3,214,899 $ 4,610,684
=========== ===========
</TABLE>
The accompanying notes to unaudited financial statements
are an integral part of these unaudited balance sheets.
2
<PAGE>
JONES CABLE INCOME FUND 1-A, LTD.
---------------------------------
(A Limited Partnership)
UNAUDITED BALANCE SHEETS
------------------------
<TABLE>
<CAPTION>
June 30, December 31,
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT) 1997 1996
------------------------------------------- ------------- -------------
<S> <C> <C>
LIABILITIES:
Debt $ 2,301,658 $ 5,296,610
Trade accounts payable and accrued liabilities 248,420 320,020
Accrued distribution to limited partners 200,000 200,000
Subscriber prepayments 35,495 41,856
------------ -----------
Total liabilities 2,785,573 5,858,486
------------ -----------
PARTNERS' CAPITAL (DEFICIT):
General Partner-
Contributed capital 1,000 1,000
Accumulated earnings (deficit) 162,499 (3,487)
Distributions (86,349) (82,309)
------------ -----------
77,150 (84,796)
------------ -----------
Limited Partners-
Net contributed capital
(17,000 units outstanding at
June 30, 1997 and December 31, 1996) 7,288,694 7,288,694
Accumulated earnings (deficit) 6,117,482 (302,700)
Distributions (13,054,000) (8,149,000)
------------ -----------
352,176 (1,163,006)
------------ -----------
Total partner's capital (deficit) 429,326 (1,247,802)
------------ -----------
Total liabilities and partners' capital $ 3,214,899 $ 4,610,684
============ ===========
</TABLE>
The accompanying notes to unaudited financial statements
are an integral part of these unaudited balance sheets.
3
<PAGE>
JONES CABLE INCOME FUND 1-A, LTD.
---------------------------------
(A Limited Partnership)
UNAUDITED STATEMENTS OF OPERATIONS
----------------------------------
<TABLE>
<CAPTION>
For the Three Months Ended For the Six Months Ended
June 30, June 30,
------------------------ ------------------------
1997 1996 1997 1996
--------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
REVENUES $ 798,308 $1,240,486 $1,984,743 $2,438,858
COSTS AND EXPENSES:
Operating expenses 471,449 756,537 1,283,267 1,535,488
Management fees and
allocated overhead from
General Partner 107,919 151,929 243,640 293,337
Depreciation and
amortization 156,243 205,104 374,802 410,430
--------- ---------- ---------- ----------
OPERATING INCOME 62,697 126,916 83,034 199,603
--------- ---------- ---------- ----------
OTHER INCOME (EXPENSE):
Interest expense (42,467) (86,955) (118,694) (171,954)
Gain on sale of cable television
system - - 6,684,781 -
Other, net (61,730) (1,074) (62,953) (1,554)
--------- ---------- ---------- ----------
Total other income (expense), net (104,197) (88,029) 6,503,134 (173,508)
--------- ---------- ---------- ----------
NET INCOME (LOSS) $ (41,500) $ 38,887 $6,586,168 $ 26,095
========= ========== ========== ==========
ALLOCATION OF NET INCOME
(LOSS):
General Partner $ (415) $ 389 $ 165,986 $ 261
========= ========== ========== ==========
Limited Partners $ (41,085) $ 38,498 $6,420,182 $ 25,834
========= ========== ========== ==========
NET INCOME (LOSS) PER LIMITED
PARTNERSHIP UNIT $ (2.42) $ 2.26 $ 377.66 $ 1.52
========= ========== ========== ==========
WEIGHTED AVERAGE NUMBER
OF LIMITED PARTNERSHIP
UNITS OUTSTANDING 17,000 17,000 17,000 17,000
========= ========== ========== ==========
</TABLE>
The accompanying notes to unaudited financial statements
are an integral part of these unaudited statements.
4
<PAGE>
JONES CABLE INCOME FUND 1-A, LTD.
---------------------------------
(A Limited Partnership)
UNAUDITED STATEMENTS OF CASH FLOWS
----------------------------------
<TABLE>
<CAPTION>
For the Six Months Ended
June 30,
------------------------
<S> <C> <C>
1997 1996
----------- ---------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 6,586,168 $ 26,095
Adjustments to reconcile net income to
net cash provided by operating activities:
Depreciation and amortization 374,802 410,430
Gain on sale of cable television system (6,684,781) -
Decrease in trade receivables 73,380 35,425
Increase in deposits, prepaid expenses and
deferred charges (96,239) (15,973)
Decrease in trade accounts payable and
accrued liabilities and subscriber prepayments (77,961) (227,655)
Decrease in advances from General Partner - (45,944)
----------- ---------
Net cash provided by operating activities 175,369 182,378
----------- ---------
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net (255,810) (319,042)
Proceeds from sale of cable television system, net of
brokerage fee 7,995,000 -
----------- ---------
Net cash provided by (used in) investing activities 7,739,190 (319,042)
----------- ---------
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings 425,036 600,000
Repayment of debt (3,419,988) (24,188)
Distributions to limited partners (4,905,000) (400,000)
----------- ---------
Net cash provided by (used in) financing activities (7,899,952) 175,812
----------- ---------
Increase in cash 14,607 39,148
Cash, beginning of period 42,929 28,199
----------- ---------
Cash, end of period $ 57,536 $ 67,347
=========== =========
SUPPLEMENTAL CASH FLOW DISCLOSURE:
Interest paid $ 155,141 $ 176,901
=========== =========
</TABLE>
The accompanying notes to unaudited financial statements
are an integral part of these statements.
5
<PAGE>
JONES CABLE INCOME FUND 1-A, LTD.
---------------------------------
(A Limited Partnership)
NOTES TO UNAUDITED FINANCIAL STATEMENTS
---------------------------------------
(1) This Form 10-Q is being filed in conformity with the SEC requirements for
unaudited financial statements and does not contain all of the necessary
footnote disclosures required for a fair presentation of the Balance Sheets and
Statements of Operations and Cash Flows in conformity with generally accepted
accounting principles. However, in the opinion of management, this data includes
all adjustments, consisting only of normal recurring accruals, necessary to
present fairly the financial position of Jones Cable Income Fund 1-A, Ltd. ("the
Partnership") at June 30, 1997 and December 31, 1996, its Statements of
Operations for the three and six month periods ended June 30, 1997 and 1996 and
its Statements of Cash Flows for the six month periods ended June 30, 1997 and
1996. Results of operations for these periods are not necessarily indicative of
results to be expected for the full year.
The Partnership owns the cable television systems serving the communities
of Owatonna and Glencoe, Minnesota (the "Owatonna/Glencoe System"). As
discussed below, the Partnership sold its Milwaukie System in March 1997. (See
Note 3.)
(2) Jones Intercable, Inc. (the "General Partner"), a publicly held Colorado
corporation, manages the Partnership and receives a fee for its services equal
to 5 percent of the gross revenues of the Partnership, excluding revenues from
the sale of cable television systems or franchises. Management fees for the
three and six month periods ended June 30, 1997 were $39,916 and $99,237,
respectively, compared to $62,024 and $121,943, respectively, for the similar
1996 periods.
The Partnership reimburses the General Partner for certain allocated
overhead and administrative expenses. These expenses represent the salaries and
related benefits paid for corporate personnel, rent, data processing services
and other corporate facilities costs. Such personnel provide engineering,
marketing, administrative, accounting, legal and investor relations services to
the Partnership. Such services, and their related costs, are necessary to the
operations of the Partnership and would have been incurred by the Partnership if
it was a stand alone entity. Allocations of personnel costs are based primarily
on actual time spent by employees of the General Partner with respect to each
Partnership managed. Remaining expenses are allocated based on the pro rata
relationship of the Partnership's revenues to the total revenues of all systems
owned or managed by the General Partner and certain of its subsidiaries.
Systems owned by the General Partner and all other systems owned by partnerships
for which Jones Intercable, Inc. is the general partner are also allocated a
proportionate share of these expenses. The General Partner believes that the
methodology used in allocating overhead and administrative expenses is
reasonable. Amounts allocated to the Partnership by the General Partner for
allocated overhead and administrative expenses for the three and six month
periods ended June 30, 1997 were $68,003 and $144,403, respectively, compared to
$89,905 and $171,394, respectively, for the similar 1996 periods.
(3) On March 11, 1997, the Partnership sold its Milwaukie System to an
unaffiliated party for a sales price of $8,200,000, subject to normal working
capital closing adjustments. From the sale proceeds, the Partnership repaid
$3,200,000 of the amount outstanding under its credit facility, paid a brokerage
fee of 2.5 percent of the sales price, or $205,000, to The Jones Group, Ltd., a
subsidiary of the General Partner, for acting as a broker in this transaction,
and then made a distribution of $4,505,000 to the Partnership's limited
partners. This distribution gave the Partnership's limited partners an
approximate return of $530 for each $1,000 invested in the Partnership. This
distribution, together with all prior distributions, has given the Partnership's
limited partners a return of approximately $1,512 for each $1,000 invested in
the Partnership. Because the distributions made on the sale of the Milwaukie
System together with all prior distributions made by the Partnership do not
total the amounts originally contributed to the Partnership by the limited
partners plus the liquidation preference as set forth in the partnership
agreement, the General Partner did not receive any general partner distribution
on the sale of the Milwaukie System. Because the sale of the Milwaukie System
did not represent the sale of all or substantially all of the assets of the
Partnership, no vote of the limited partners of the Partnership was required to
approve the sale. The Partnership will continue to own and operate its
Owatonna/Glencoe System.
6
<PAGE>
The pro forma effect of the sale of the Milwaukie System on the results
of the Partnership's operations for the six month periods ended June 30, 1997
and 1996, assuming the transaction had occurred at the beginning of the year, is
presented in the following unaudited tabulation:
<TABLE>
<CAPTION>
For the Six Month Period Ended June 30, 1997
--------------------------------------------
Pro Forma
As Reported Adjustments Pro Forma
----------- ------------ ----------
<S> <C> <C> <C>
Revenues $1,984,743 $ (411,906) $1,572,837
========== =========== ==========
Operating Income $ 83,034 $ 21,367 $ 104,401
========== =========== ==========
Net Income $6,586,168 $(6,560,907) $ 25,261
========== =========== ==========
For the Six Month Period Ended June 30, 1996
--------------------------------------------
Pro Forma
As Reported Adjustments Pro Forma
----------- ----------- ----------
Revenues $2,438,858 $ (984,844) $1,454,014
========== =========== ==========
Operating Income $ 199,603 $ (155,725) $ 43,878
========== =========== ==========
Net Income $ 26,095 $ 135,220 $ 161,315
========== =========== ==========
</TABLE>
(4) Certain prior year amounts were reclassified to conform to the 1997
presentation.
7
<PAGE>
JONES CABLE INCOME FUND 1-A, LTD.
---------------------------------
(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
---------------------------------------------------------------
RESULTS OF OPERATIONS
---------------------
FINANCIAL CONDITION
- -------------------
It is the General Partner's publicly announced policy that it intends to
liquidate its managed partnerships, including the Partnership, as opportunities
for sales of partnership cable television systems arise in the marketplace over
the next several years. In accordance with the General Partner's policy, the
Owatonna/Glencoe System is being marketed for sale. There is no assurance as to
the timing or terms of any sale.
On March 11, 1997, the Partnership sold its Milwaukie System to an
unaffiliated party for a sales price of $8,200,000, subject to normal working
capital closing adjustments. The Partnership subsequently repaid $3,200,000 of
the amount outstanding under its credit facility, paid a brokerage fee of 2.5
percent of the sales price, or $205,000, to The Jones Group, Ltd., a subsidiary
of the General Partner, for acting as a broker in this transaction, and then
made a distribution of $4,505,000 to the Partnership's limited partners. This
distribution gave the Partnership's limited partners an approximate return of
$530 for each $1,000 invested in the Partnership. This distribution, together
with all prior distributions, has given the Partnership's limited partners a
return of approximately $1,512 for each $1,000 invested in the Partnership.
Because the distributions made on the sale of the Milwaukie System together with
all prior distributions made by the Partnership do not total the amounts
originally contributed to the Partnership by the limited partners plus the
liquidation preference as set forth in the partnership agreement, the General
Partner did not receive any general partner distribution on the sale of the
Milwaukie System. Because the sale of the Milwaukie System did not represent
the sale of all or substantially all of the assets of the Partnership, no vote
of the limited partners of the Partnership was required to approve the sale.
The Partnership will continue to own and operate its Owatonna/Glencoe System.
For the six months ended June 30, 1997, the Partnership generated
operating income before depreciation and amortization totaling $457,836, which
is available to fund distributions, capital expenditures and non-operating
costs. During the first six months of 1997, the Partnership expended
approximately $255,900 for capital improvements. Approximately 39 percent of
these expenditures related to service drops to subscribers' homes and
approximately 32 percent of these expenditures related to the purchase of
converters for the Partnership's systems. The remaining expenditures were for
various enhancements in the Partnership's systems. Funding for these
expenditures was provided by cash generated from operations and borrowings under
the Partnership's credit facility. Anticipated capital expenditures for the
remainder of 1997 are approximately $195,000. Of these expenditures,
approximately 52 percent relates to service drops to subscribers' homes and
approximately 11 percent relates to the construction of new cable plant
associated with new homes passed. The remainder of the anticipated expenditures
is for various enhancements in the Partnership's Owatonna/Glencoe System. These
capital expenditures are necessary to maintain the value of the Partnership's
Owatonna/Glencoe System. Funding for these expenditures is expected to be
provided by cash generated from operations and, if necessary, borrowings under
the Partnership's new revolving credit facility.
As a result of the sale of the Milwaukie System on March 11, 1997, the
Partnership repaid $3,200,000 of the then-outstanding balance of its $6,500,000
revolving credit facility, and the commitment amount was reduced to $3,300,000.
The revolving credit period expires December 31, 1997, at which time the
outstanding balance converts to a term loan with a final maturity of December
31, 2003. The balance outstanding on the Partnership's credit facility at June
30, 1997 was $2,200,000, leaving $1,100,000 for future needs. Interest on
outstanding principal amounts on the credit facility is computed at the
Partnership's option of the London Interbank Offered Rate plus 1-1/4 percent or
the Prime Rate plus 1/4 percent. The effective interest rates on amounts
outstanding as of June 30, 1997 and 1996 were 7.06 percent and 6.83 percent,
respectively.
A primary objective of the Partnership is to provide quarterly cash
distributions from operating cash flow to its partners. In addition to the
distribution from the sale proceeds from the Milwaukie System, the Partnership
declared a $200,000 cash flow distribution to its limited partners during the
second quarter of 1997, which was principally from second quarter operating cash
flow of the Partnership. The Partnership expects to continue quarterly
distributions from operating cash flow but anticipates that the amount of
distributions will be less due to the sale by the Partnership of its Milwaukie
System. The General Partner has agreed to defer its portion of cash
distributions until the Partnership is liquidated. Future distributions will be
announced on a quarter-by-quarter basis and no determination has been made
regarding any specific level of future distributions. The payment of quarterly
operating cash flow distributions reduces the financial flexibility of the
Partnership.
8
<PAGE>
The General Partner believes that cash flow from operations and available
borrowings under the Partnership's credit facility will be sufficient to fund
capital expenditures and other liquidity needs of the Partnership's
Owatonna/Glencoe System.
RESULTS OF OPERATIONS
- ---------------------
Revenues of the Partnership decreased $442,178, or approximately 36
percent, to $798,308 for the three months ended June 30, 1997 from $1,240,486
for the similar period in 1996. For the six month periods ended June 30, 1997
and 1996, revenues decreased $454,115, or approximately 19 percent, to
$1,984,743 at June 30, 1997 from $2,438,858 for the similar period in 1996.
These decreases were a result of the sale of the Milwaukie System. Disregarding
the effect of the sale of the Milwaukie System, revenues would have increased
$57,866, or approximately 8 percent, to $798,768 for the three month period
ended June 30, 1997 from $740,902 for the similar period in 1996. For the six
month period ended June 30, 1997, revenues would have increased $118,823, or
approximately 8 percent, to $1,572,837 from $1,454,014 for the similar period in
1996. The increases in revenues were primarily the result of basic service rate
increases and an increase in the number of basic subscribers. Basic service
rate increases accounted for approximately 42 percent and 56 percent,
respectively, of the increase in revenues for the three and six month periods
ended June 30, 1997. The number of basic subscribers in the Partnership's
Owatonna/Glencoe System increased by 310, or approximately 4 percent, to 8,440
subscribers at June 30, 1997 from 8,130 subscribers at June 30, 1996. No other
individual factor contributed significantly to the increase in revenues.
Operating expenses consist primarily of costs associated with the operation
and administration of the Partnership's cable television systems. The principal
cost components are salaries paid to system personnel, programming expenses,
professional fees, subscriber billing costs, rent for leased facilities, cable
system maintenance expenses and marketing expenses.
Operating expenses decreased $285,088, or approximately 37 percent, to
$471,449 for the three month period ended June 30, 1997 from $756,537 for the
similar 1996 period. Operating expenses decreased $252,221, or approximately 16
percent, to $1,283,267 for the six month period ended June 30, 1997 from
$1,535,488 for the similar 1996 period. These decreases were primarily due to
the sale of the Milwaukie System. Disregarding the effect of the sale of the
Milwaukie System, operating expenses would have increased $12,996, or
approximately 3 percent, to $471,449 for the three month period ended June 30,
1997 from $458,453 for the comparable period in 1996. For the six month period
ended June 30, 1997, operating expenses would have increased $4,784, or
approximately 1 percent, to $949,035 from $944,251 in 1996. Operating expenses
represented 59 percent and 62 percent of revenue for the three month periods
ended June 30, 1997 and 1996, respectively, and represented 60 percent and 65
percent for the six month periods ended June 30, 1997 and 1996, respectively.
The increases in operating expenses for the three and six month periods were
primarily a result of increases in programming costs. No other individual
factor contributed significantly to the increases in operating expenses.
The cable television industry generally measures the financial performance
of a cable television system in terms of operating cash flow (revenues less
operating expenses). This measure is not intended to be a substitute or
improvement upon the items disclosed on the financial statements, rather it is
included because it is an industry standard. Operating cash flow decreased
$157,090, or approximately 32 percent, to $326,859 for the three months ended
June 30, 1997 from $483,949 for the similar 1996 period. Operating cash flow
decreased $201,894, or approximately 22 percent, to $701,476 for the six months
ended June 30, 1997 from $903,370 for the similar 1996 period. These decreases
were the result of the sale of the Milwaukie System. Disregarding the effect of
the sale of the Milwaukie System, operating cash flow would have increased
$44,870, or approximately 16 percent, to $327,319 for the three month period
ended June 30, 1997 from $282,449 for the comparable 1996 period. For the six
month period ended June 30, 1997, operating cash flow would have increased
$114,039, or approximately 22 percent, to $623,802 from $509,763 in 1996. These
increases were due to the increases in revenues exceeding the increases in
operating expenses.
Management fees and allocated overhead from Jones Intercable, Inc.
decreased $44,010, or approximately 29 percent, to $107,919 for the three month
period ended June 30, 1997 from $151,929 for the similar 1996 period. Management
fees and allocated overhead from the General Partner decreased $49,697, or
approximately 17 percent, to $243,640 for the six months ended June 30, 1997
from $293,337 for the similar 1996 period. These decreases were the result of
the sale of the Milwaukie System. Disregarding the effect of the sale of the
Milwaukie System, management fees and allocated overhead from Jones Intercable,
Inc. would have increased $7,348, or approximately 7 percent, to $107,942
9
<PAGE>
for the three month period ended June 30, 1997 from $100,594 for the
comparable 1996 period. For the six month period ended June 30, 1997,
management fees and allocated overhead from Jones Intercable, Inc. would have
increased $18,157, or approximately 10 percent, to $194,064 from $175,907 in
1996. These increases were primarily due to the increases in revenues, upon
which such management fees and allocations are based, partially offset by a
decrease in certain expenses allocated from Jones Intercable, Inc.
Depreciation and amortization expense decreased $48,861, or approximately
24 percent, to $156,243 for the three months ended June 30, 1997 from $205,104
for the similar 1996 period. Depreciation and amortization expense decreased
$35,628, or approximately 9 percent, to $374,802 for the six months ended June
30, 1997 from $410,430 for the similar 1996 period. These decreases were the
result of the sale of the Milwaukie System. Disregarding the effect of the sale
of the Milwaukie System, depreciation and amortization would have increased
$37,258, or approximately 27 percent, to $175,235 for the three month period
ended June 30, 1997 from $137,977 in 1996. For the six month period ended June
30, 1997, depreciation and amortization would have increased $54,288, or
approximately 20 percent, to $328,123 in 1997 from $273,835 in 1996. These
increases were due to capital additions in 1997.
Operating income decreased $64,219, or approximately 51 percent, to $62,697
for the three months ended June 30, 1997 from $126,916 for the similar 1996
period. Operating income decreased $116,569, or approximately 58 percent, to
$83,034 for the six months ended June 30, 1997 from $199,603 for the similar
1996 period. These decreases were the result of the sale of the Milwaukie
System. Disregarding the effect of the sale of the Milwaukie System, operating
income would have increased $60,523 to $104,401 for the three month period ended
June 30, 1997 from $43,878 in 1996. For the six month period ended June 30,
1997, operating income would have increased $41,594, or approximately 69
percent, to $101,615 in 1997 from $60,021 in 1996. These increases were due to
the increases in revenues exceeding the increases in operating expenses,
management fees and allocated overhead from the general partner and depreciation
and amortization.
Interest expense decreased $44,488, or approximately 51 percent, to $42,467
for the three months ended June 30, 1997 from $86,955 for the similar 1996
period. Interest expense decreased $53,260, or approximately 31 percent, to
$118,694 for the six month period ended June 30, 1997 from $171,954 for the
similar 1996 period. These decreases were primarily due to lower outstanding
balances on the Partnership's interest bearing obligations as a result of the
portion of the proceeds from the sale of the Milwaukie System being used to
repay $3,200,000 of the outstanding loan principal balance.
The Partnership reported a net loss of $41,500 for the three months ended
June 30, 1997 compared to net income of $38,887 for the comparable 1996 period.
This change was a result of the factors discussed above. Net income increased
$6,560,073 to $6,586,168 for the six month period ended June 30, 1997 from
$26,095 in 1996. This increase was primarily the result of the gain on the sale
of the Milwaukie System.
10
<PAGE>
PART II - OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K
a) Exhibits
27) Financial Data Schedule
b) Reports on Form 8-K
None
11
<PAGE>
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 thereunto duly authorized.
JONES CABLE INCOME FUND 1-A, LTD.
BY: JONES INTERCABLE, INC.
General Partner
By: /S/ Kevin P. Coyle
------------------------------------
Kevin P. Coyle
Group Vice President/Finance
(Principal Financial Officer)
Dated: August 12, 1997
12
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<CASH> 57,536
<SECURITIES> 0
<RECEIVABLES> 46,281
<ALLOWANCES> (19,780)
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 6,465,868
<DEPRECIATION> (3,481,361)
<TOTAL-ASSETS> 3,214,899
<CURRENT-LIABILITIES> 483,915
<BONDS> 2,301,658
0
0
<COMMON> 0
<OTHER-SE> 429,326
<TOTAL-LIABILITY-AND-EQUITY> 3,214,899
<SALES> 0
<TOTAL-REVENUES> 1,984,743
<CGS> 0
<TOTAL-COSTS> 1,961,968
<OTHER-EXPENSES> 6,563,393
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 118,694
<INCOME-PRETAX> (6,586,168)
<INCOME-TAX> 0
<INCOME-CONTINUING> (6,586,168)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (6,586,168)
<EPS-PRIMARY> (377.66)
<EPS-DILUTED> (377.66)
</TABLE>
