FairPoint Communications, Inc.

(NYSE:FRP)

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Quarterly Data
Annual Data
Note: All numbers in thousands

	Sep 30, 2008	Jun 30, 2008	Mar 31, 2008	Dec 31, 2007
Assets
Current Assets
Cash & Equivalents	168,071	11,150	10,961	2,942
Restricted Cash	10,341	13,400	19,200	—
Marketable Securities	—	—	—	—
Accounts Receivable	168,431	181,066	168,330	22,705
Loans Receivable	—	—	—	—
Other Receivable	15,468	37,931	40,233	6,744
Receivables	183,899	218,997	208,563	29,449
Raw Materials	42,155	39,749	10,136	5,349
Work in Progress	—	—	—	—
Purchased Components	—	—	—	—
Finished Goods	—	—	—	—
Other Inventories	—	—	—	—
Inventories Adjustments and Allowances	—	—	—	—
Inventories	42,155	39,749	10,136	5,349
Prepaid Expenses	—	—	—	4,301
Current Deferred Income Taxes	19,836	22,093	27,382	4,459
Other Current Assets	44,196	50,420	43,344	—
Total Current Assets	468,498	355,809	319,586	46,500
Land and Improvements	—	—	—	4,000
Building and Improvements	—	—	—	43,217
Machinery Furniture and Equipment	—	—	—	786,118
Construction in Progress	—	—	—	53,335
Other Fixed Assets	1,924,132	1,884,847	1,890,403	9,699
Total Fixed Assets	1,924,132	1,884,847	1,890,403	896,369
Gross Fixed Assets	1,924,132	1,884,847	1,890,403	896,369
Accumulated Depreciation and Depletion	—	—	—	627,479
Net Fixed Assets	1,924,132	1,884,847	1,890,403	268,890
Intangibles	222,100	227,536	232,973	12,257
Cost in Excess	625,010	613,945	611,624	498,725
Non Current Deferred Income Taxes	—	—	—	56,042
Other Non Current Assets	190,449	188,130	185,724	14,053
Total Non Current Assets	2,961,691	2,914,458	2,920,724	849,967
Total Assets	3,430,189	3,270,267	3,240,310	896,467
Liabilities
Current Liabilities
Accounts Payable	99,647	188,606	206,599	35,256
Notes Payable	—	—	—	—
Short Term Debt	24,693	11,357	2,029	1,011
Accrued Expenses	—	—	—	—
Accrued Liabilities	102,559	95,615	58,961	19,209
Deferred Revenues	—	—	—	—
Current Deferred Income Tax Liabilities	—	—	—	—
Other Current Liabilities	40,339	43,271	41,049	20,987
Total Current Liabilities	267,238	338,849	308,638	76,463
Non Current Liabilities
Long Term Debt	2,447,608	2,206,777	2,177,381	624,219
Capital Lease Obligations	7,869	8,196	9,472	—
Deferred Income Tax Liabilities	248,087	251,989	248,802	—
Other Non Current Liabilities	248,760	235,376	263,291	33,880
Minority Interest Liabilities	6	7	6	7
Preferred Securities of Subsidiary Trust Liabilities	—	—	—	—
Preferred Equity Outside Stock Equity	—	—	—	—
Total Non Current Liabilities	3,219,568	3,041,194	3,007,590	734,569
Total Liabilities	2,952,330	2,702,345	2,698,952	658,106
Shareholders' Equity
Preferred Stock Equity	—	—	—	—
Common Stock Equity	210,621	229,073	232,720	161,898
Common Par	890	890	890	352
Additional Paid in Capital	755,574	777,825	800,321	477,625
Cumulative Translation Adjustment	—	—	—	—
Retained Earnings	-467,118	-470,917	-489,766	-305,531
Treasury Stock	—	—	—	—
Other Equity Adjustments	-78,725	-78,725	-78,725	-10,548
Total Capitalization	2,658,229	2,435,850	2,410,101	786,117
Cash Flow	185,772	157,930	108,586	58,377
Working Capital	201,260	16,960	10,948	-29,963
Free Cash Flow	-1,349,971	-1,210,462	-1,173,348	-79,038
Invested Capital	2,666,098	2,444,046	2,419,573	786,117
Total Equity	210,621	229,073	232,720	161,898
Total Liabilities and Stock Equity	3,430,189	3,270,267	3,240,310	896,467

	Dec 31, 2007	Dec 31, 2006	Dec 31, 2005	Dec 31, 2004
Assets
Current Assets
Cash & Equivalents	2,942	3,805	5,083	3,595
Restricted Cash	—	—	—	—
Marketable Securities	—	—	—	—
Accounts Receivable	22,705	27,940	30,034	30,203
Loans Receivable	—	—	—	1,000
Other Receivable	6,744	593	4,951	—
Receivables	29,449	28,533	34,985	31,203
Raw Materials	5,349	—	—	—
Work in Progress	—	—	—	—
Purchased Components	—	—	—	—
Finished Goods	—	—	—	—
Other Inventories	—	5,128	4,285	3,866
Inventories Adjustments and Allowances	—	—	—	—
Inventories	5,349	5,128	4,285	3,866
Prepaid Expenses	4,301	2,631	1,786	1,878
Current Deferred Income Taxes	4,459	33,648	29,190	—
Other Current Assets	—	5,425	3,219	163
Total Current Assets	46,500	79,170	78,548	40,705
Land and Improvements	4,000	4,256	4,096	3,851
Building and Improvements	43,217	41,486	39,889	36,339
Machinery Furniture and Equipment	786,118	776,612	715,937	658,228
Construction in Progress	53,335	—	—	—
Other Fixed Assets	9,699	6,880	—	4,577
Total Fixed Assets	896,369	829,234	759,922	702,995
Gross Fixed Assets	896,369	829,234	759,922	702,995
Accumulated Depreciation and Depletion	627,479	582,970	517,305	450,733
Net Fixed Assets	268,890	246,264	242,617	252,262
Intangibles	12,257	13,197	485,005	468,508
Cost in Excess	498,725	499,184	—	—
Non Current Deferred Income Taxes	56,042	23,830	47,160	—
Other Non Current Assets	14,053	23,585	54,809	57,661
Total Non Current Assets	849,967	806,060	829,591	778,431
Total Assets	896,467	885,230	908,139	819,136
Liabilities
Current Liabilities
Accounts Payable	35,256	14,337	12,030	14,184
Notes Payable	—	312	338	382
Short Term Debt	1,011	714	677	524
Accrued Expenses	—	—	—	—
Accrued Liabilities	19,209	16,577	21,096	32,454
Deferred Revenues	—	—	—	—
Current Deferred Income Tax Liabilities	—	—	—	—
Other Current Liabilities	20,987	14,394	16,284	2,362
Total Current Liabilities	76,463	46,334	50,425	49,906
Non Current Liabilities
Long Term Debt	624,219	607,272	606,748	809,908
Capital Lease Obligations	—	—	—	—
Deferred Income Tax Liabilities	—	—	—	—
Other Non Current Liabilities	33,880	6,897	4,108	15,383
Minority Interest Liabilities	7	8	10	11
Preferred Securities of Subsidiary Trust Liabilities	—	—	—	—
Preferred Equity Outside Stock Equity	—	—	—	—
Total Non Current Liabilities	734,569	660,511	661,291	992,088
Total Liabilities	658,106	614,177	610,866	942,182
Shareholders' Equity
Preferred Stock Equity	—	—	—	—
Common Stock Equity	161,898	224,719	246,848	-172,952
Common Par	352	352	350	94
Additional Paid in Capital	477,625	530,536	590,131	198,519
Cumulative Translation Adjustment	—	—	—	—
Retained Earnings	-305,531	-311,545	-342,635	-371,565
Treasury Stock	—	—	—	—
Other Equity Adjustments	-10,548	5,376	-998	—
Total Capitalization	786,117	831,991	853,596	636,956
Cash Flow	58,377	85,885	83,163	31,181
Working Capital	-29,963	32,836	28,123	-9,201
Free Cash Flow	-79,038	-56,640	-27,973	6,222
Invested Capital	786,117	831,991	853,596	636,956
Total Equity	161,898	224,719	246,848	-172,952
Total Liabilities and Stock Equity	896,467	885,230	908,139	819,136