FRP » Topics » Thomas Eagan Analyst

This excerpt taken from the FRP 8-K filed Apr 18, 2008.

 Thomas Eagan Analyst


 Yes. But — and I guess what I’m getting at is, there’s going to be some additional costs over and above the normal costs that you would see at the northern New England properties as people try to figure out how to do this stuff. So they’re not so much talking about the costs, I was wondering if that — if those additional expenses were netted against the $111 or where I would find them if I were to look for them in the sheets that you showed.


 John Crowley  - FairPoint Communications, Inc. - CFO


 No, they are not. And those are the one-time expenses that I talked about in 2008 that we’re allowed to add back in terms of calculating EBITDA. So we’ve assumed $60 million in one-time expenses in 2008. Of that, about $15 million is the expensed portion of the Capgemini contract. So there’s about $45 million in other one-time operating expenses, that would be things like branding, training, recruiting, and the short-term surge of employees. But those are ‘08 items only. So I think the answer to your question is we have anticipated about $45 million in additional one-time expenses in 2008. They’re budgeted for, but the $111 is a pure recurring cost saving and it’s only in the indirect expenses.




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