Cogeco Communications Inc. Releases Its Results for the Second Quarter of Fiscal 2016
- Revenue increased by $42.1 million, or 8.3%, to reach $551.5 million; - Adjusted EBITDA(1) increased by $17.1 million, or 7.4%, to reach $248.4 million compared to $231.3 million for the second quarter of fiscal 2015; and - A quarterly dividend of $0.39 per share was declared, an increase of 11.4% compared to the same period in fiscal 2015.
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 04/13/16 -- Today, Cogeco Communications Inc. (TSX: CCA) ("Cogeco Communications" or the "Corporation") announced its financial results for the second quarter ended February 29, 2016, in accordance with International Financial Reporting Standards ("IFRS").
For the second quarter of fiscal 2016:
For the six-month period ended February 29, 2016:
"Overall, our results for the second quarter of the 2016 fiscal year have been satisfactory," declared Louis Audet, President and Chief Executive Officer of Cogeco Communications Inc. "Our American broadband services subsidiary, Atlantic Broadband, continues to report strong results and solid organic growth following the acquisition of the Connecticut system. Meanwhile, our Canadian broadband services subsidiary, which was renamed Cogeco Connexion, continues to report satisfactory results in a highly competitive market. Cogeco Connexion also reviewed its product offering during the quarter and launched a new entry-level package and a number of new packages on March 1 which provide customers with greater flexibility and choice."
"Our Business ICT services subsidiary, Cogeco Peer 1, is pursuing its plan to build competitive product portfolios," continued Mr. Audet. "As this exercise progresses, in an increasingly competitive market, we are deploying new sales strategies and streamlining our product-offering, focusing on profitability."
"We have also seen an overall positive reaction to our renaming and rebranding exercise, which we unveiled during the second quarter," added Mr. Audet. "We feel well on our way to building a strong, unified and recognizable brand, to position Cogeco for an inspiring and successful future."
ABOUT COGECO COMMUNICATIONS
Cogeco Communications Inc. is a communications corporation. It is the 11th largest cable operator in North America, operating in Canada under the Cogeco Connexion name in Quebec and Ontario, and in the United States under the Atlantic Broadband name in western Pennsylvania, south Florida, Maryland/Delaware, South Carolina and eastern Connecticut. Cogeco Communications Inc. provides its residential and business customers with video, Internet and telephony services through its two-way broadband fibre networks. Through its subsidiary Cogeco Peer 1, Cogeco Communications Inc. provides its business customers with a suite of information and communications technology services (colocation, network connectivity, managed hosting, cloud services and managed IT services), through its 17 data centres, an extensive FastFiber NetworkTM and more than 50 points-of-presence in North America and Europe. Cogeco Communications Inc.''s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).
SHAREHOLDERS'' REPORT
Three and six-month periods ended February 29, 2016
FINANCIAL HIGHLIGHTS
Contacts:
Source:
Cogeco Communications Inc.
Patrice Ouimet
Senior Vice President and Chief Financial Officer
514-764-4700
Information:
Media
Rene Guimond
Senior Vice-President, Public Affairs and Communications
514-764-4700
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Datum: 13.04.2016 - 16:39 Uhr
Sprache: Deutsch
News-ID 1427951
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MONTREAL, QUEBEC
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Music & Radio
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