Senior executives, company owners, and financial institutions rely on the Communications Industry Report as their authoritative media and communications industry source of public company performance information. The 2003 report examines five-year financial data for the industry as a whole and by segment.

The Communications Industry Report is a one-of-a-kind analysis of the key comparative financial performance measures and trends for publicly reporting media and communications companies with more than $1 million in revenues across every media segment.

The 2003 Communications Industry Report data is only available in an electronic format. This year we are providing the supporting excel charts containing specific financial information on the companies in each chapter. These are the publicly-reporting companies used to determine the summary data. (Please note that the summary data is included in 2003 Communications Industry Forecast). The Report includes details such as revenues, operating income, OCF, assets etc., but it does not provide in depth analysis of the data as in the previous editions. The Report five-year summary of financial performance data is in PDF file format. Available on August 5, 2003.

Revenue is the sum of revenues for each communications category that a company participates in. It does not necessarily reflect all of a company's revenue if the category excludes sales in foreign markets. For radio and television, it is net of agency commissions, whereas advertising agency revenue is net revenue including only commissions, fees and other income.

Operating Income is revenue net of direct costs, of selling, of general and administrative expenses, and of depreciation and amortization.

Assets are identifiable assets by segment, as reported by the company. For a company participating in numerous media segments, corporate assets are excluded if reported separately.

Depreciation and Amortization are defined as depreciation of property, plant, and equipment and amortization of intangibles, including goodwill. Costs that are expected to result in a future revenue stream and are charged against earnings on an individual basis are excluded.

Operating Cash Flow is calculated as the sum of operating income, depreciation, and amortization. As noncash items, the latter two are added back to operating income to approximate actual cash flow from operations.

Operating Cash Flow Margin is calculated by dividing operating cash flow by revenue. The result is expressed as a percentage.

Operating Income Return on Assets is calculated by dividing operating income by the average of the current and prior year's assets. The result is a percentage.

Operating Cash Flow Return on Assets is calculated by dividing operating cash flow by the average of the current and prior year's assets. The result is a percentage.

Annual Growth is the simple percentage change over the prior year's result.