CCS Bottom Line

[Jeff]

Hey Kevin [Elliott],

Understandably CCS has good & bad events.  Out of all of our curiousities though, can you share your 02 financials with us?

[Super Dave]

I believe that CCS makes a small amount of money for CCE.  Like a tiny investment (7-10%).  However, FUSA takes any profit and turns it immediately into a loss.

[Dawn]

 However, FUSA takes any profit and turns it immediately into a loss.

LOL!!!

That's why F-USA needs to run with CCS at RA.

Dawn   :)

[Super Dave]

And Mid-America, Daytona, Daytona, Summit, etc.

[sdiver68]

You are kidding, right? :O

You can get a copy of CCE's financial statments here:

http://www.clearchannel.com/ir.php

Other than that, I would be shocked if CCE provided 1 more detail.  Kevin would be fired and maybe sued  and liable for SEC violations if he provided that.  You MAY get something out of investor relations...but I seriously doubt it unless you have a significant holding.

[Dawn]

Here's the link to their annual shareholders report.  The financial statements will be in there.  Be aware that this is 111 pages long.

http://www.clearchannel.com/documents/financial/ClearChannel_10k_2001.pdf

Dawn   :)

[MightyDuc Racing]

I skimmed through it and don;t see anywhere that it breaks it down to a CCS or Formula USA level, or eve close to it for that matter.  However, it doesn't really look like they are exactly losing any money anywhere.

[sdiver68]

2001 and 2002 are both negative years....according to those statements.

Check out the Income Statements with the parenthesis around the bottom line...that's a negative.

[Super_KC124]

Shall we pass the hat at each race?  ;)

[EX#996]

2001 and 2002 are both negative years....according to those statements.

Check out the Income Statements with the parenthesis around the bottom line...that's a negative.

Trust me...

Any good accountant can show a loss in any year.

Shall we pass the hat at each race?  

Too funny!

Dawn   :)

[sdiver68]

True Dawn...

I make my living doing Financials...and do pretty well at it too...

But 2 years in a row indicates they at least are not making a killing.  Add to that Kevin's hiring freeze...companies don't do that type of thing when they ar rolling in the money.

[Jeff]

True Dawn...
But 2 years in a row indicates they at least are not making a killing.  Add to that Kevin's hiring freeze...companies don't do that type of thing when they ar rolling in the money.

But that's CCE on a whole...  I'm just curious about what CCS brings to the table for the company.  I'm sure it's not a ton, but...