Cogeco Communications Inc. Releases its Results for the Third Quarter of Fiscal 2016
- Revenue increased by $23.8 million, or 4.6%, to reach $540.3 million; - Adjusted EBITDA(1) increased by $3.4 million, or 1.4%, to reach $243.1 million compared to $239.8 million for the third quarter of fiscal 2015; - Free cash flow(1) increased by $8.8 million, or 11.6%, to reach $84.7 million; - A quarterly eligible dividend of $0.39 per share was declared, an increase 11.4% compared to the same period of fiscal 2015; and - A non-cash impairment of goodwill and intangible assets related to the Business information and communications technology ("Business ICT") services segment was recorded during the third quarter of fiscal 2016, amounting to $450 million.
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 07/06/16 -- Today, Cogeco Communications Inc. (TSX: CCA) ("Cogeco Communications" or the "Corporation") announced its financial results for the third quarter ended May 31, 2016, in accordance with International Financial Reporting Standards ("IFRS").
For the third quarter of fiscal 2016:
"Cogeco Communications Inc.''s broadband services segments continued to show overall good financial performance during the third quarter of 2016," declared Louis Audet, President and Chief Executive Officer of Cogeco Communications Inc. "Our Canadian services subsidiary, Cogeco Connexion, has reported relatively satisfactory results, leveraging its superior Internet speeds and video solutions in a competitive environment."
"Meanwhile, Atlantic Broadband, our American broadband services subsidiary, continues to report strong results and new growth, particularly in Miami with the recent announcement of a contract to be the exclusive communications services provider for the new 83-story Panorama Towers," added M. Audet. "We are also maintaining solid organic growth, including in our newly acquired Connecticut system."
"We are seeing increased competition in the Business ICT sector from large cloud-based offerings competing with traditional managed hosting providers," stated Mr. Audet. "Cogeco Communications remains committed to investing in and growing the Business ICT sector with Cogeco Peer 1 at the forefront of this strategy, positioned as a trusted partner to its customers. Our integration is now complete and we are confident that with a solid, seasoned management team in place and a competitive product portfolio, our subsidiary can effectively serve the market, adapting to its changing conditions."
"In all our businesses, we move forward and act with our customers in mind, and we feel this strategy continues to be the key to our success," concluded M. Audet.
ABOUT COGECO COMMUNICATIONS
Cogeco Communications Inc. is a communications corporation. It is the 8th 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).
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: 06.07.2016 - 17:37 Uhr
Sprache: Deutsch
News-ID 1445574
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Music & Radio
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