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Previous: AMERICA ONLINE INC, 8-K, EX-99.1, 2000-07-17 |
Next: WATSON PHARMACEUTICALS INC, 425, 2000-07-17 |
EXHIBIT 99.2
America Online, Inc.
Consolidated Summary of Results
Restated Periods for MapQuest Merger
(Amounts in millions, except per share data)
(Unaudited)
<TABLE>
Three months ended
<S> <C> <C> <C> <C>
March 31, December 31, September 30, June 30,
2000 1999 1999 1999
Revenues:
Subscription services $ 1,153 $ 1,067 $ 995 $ 943
Advertising, commerce and other 568 449 360 313
Enterprise solutions 126 117 122 128
Total revenues 1,847 1,633 1,477 1,384
Costs and expenses:
Cost of revenues 941 833 792 743
Sales and marketing 271 236 213 216
Product development 79 77 71 71
General and administrative 161 158 123 114
Amortization of goodwill 19 18 18 16
One time charges - 5 - 15
Total costs and expenses 1,471 1,327 1,217 1,175
Income from operations 376 306 260 209
Other income, net 337 159 39 30
Income before provision for
income taxes 713 465 299 239
Provision for income taxes (280) (185) (118) (82)
Net income $ 433 $ 280 $ 181 $ 157
Earnings per share-diluted $ 0.17 $ 0.11 $ 0.07 $ 0.06
Earnings per share-basic $ 0.19 $ 0.12 $ 0.08 $ 0.07
Weighted average shares
outstanding-diluted 2,608 2,623 2,587 2,602
Weighted average shares
outstanding-basic 2,298 2,270 2,231 2,196
</TABLE>
America Online, Inc.
Supplemental Information
Restated Periods for MapQuest Merger - Fully Taxed, Excluding One-Time Items
(Amounts in millions, except per share data)
(Unaudited)
<TABLE>
Three months ended
<S> <C> <C> <C> <C>
March 31, December 31, September 30, June 30,
2000 1999 1999 1999
Revenues:
Subscription services $1,153 $ 1,067 $ 995 $ 943
Advertising, commerce and other 568 449 360 313
Enterprise solutions 126 117 122 128
Total revenues 1,847 1,633 1,477 1,384
Costs and expenses:
Cost of revenues 941 833 792 743
Sales and marketing 271 236 213 216
Product development 79 77 71 71
General and administrative 161 158 123 114
Amortization of goodwill 19 18 18 16
Total costs and expenses 1,471 1,322 1,217 1,160
Income from operations 376 311 260 224
Other income, net 62 48 39 30
Income before provision for
income taxes 438 359 299 254
Provision for income taxes (171) (140) (117) (99)
Net income $ 267 $ 219 $ 182 $ 155
Earnings per share-diluted (1) $ 0.11 $ 0.09 $ 0.07 $ 0.06
Weighted average shares
outstanding-diluted (1) 2,508 2,507 2,473 2,426
Other Selected Data
EBITDA 488 391 337 304
Net cash provided by operations 478 353 466 192
Free cash flow 281 137 312 74
(1) Weighted average shares outstanding based on fully
taxed diluted share calculation including common stock equivalents.
Advertising, Commerce and Other Revenue
Advertising and electronic commerce fees 470 354 274 237
Merchandise 58 47 46 41
Other 45 48 45 35
Total advertising, commerce and other
revenue 573 449 365 313
</TABLE>
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