Cogeco Communications Inc. Releases its Results for the First Quarter of Fiscal 2017
- Revenue increased by $8.8 million, or 1.6% to reach $549.1 million; - Adjusted EBITDA(1) increased by $5.6 million, or 2.3%, to reach $249.7 million; - Free cash flow(1) amounted to $101.4 million, an increase of $61.3 million; and - A quarterly eligible dividend of $0.43 per share was declared, an increase of 10.3% compared to the same period of fiscal 2016.
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 01/11/17 -- Today, Cogeco Communications Inc. (TSX: CCA) ("Cogeco Communications" or the "Corporation") announced its financial results for the first quarter ended November 30, 2016, in accordance with International Financial Reporting Standards ("IFRS").
For the first quarter of fiscal 2017:
"We are quite satisfied with the overall results for Cogeco Communications Inc., in this first quarter of our fiscal year 2017," declared Louis Audet, President and Chief Executive Officer of Cogeco Communications Inc. "Given the high level of competition in the Canadian broadband market and the maturity of this industry, we are very pleased with the results of our Canadian broadband services subsidiary. Cogeco Connexion continues to maintain tight control on costs and has once again reported results that are in line with expectations."
"Our American broadband services subsidiary, Atlantic Broadband, continues to show a solid performance with strong organic growth," added M. Audet. "We are very satisfied with results so far in fiscal 2017 and see potential for further growth, particularly in the Connecticut and Florida markets."
"At Cogeco Peer 1, our Business ICT services subsidiary, we have a solid senior leadership management team and a new go-to- market strategy in place," stated Mr. Audet. "While market conditions are changing faster than ever before, we continue to focus on bringing more relevant solutions to market and cross-selling our services, positioning ourselves as a trusted advisor offering the whole breadth of relevant enterprise services. In addition, we have generated meaningful free cash flow reflecting our focus on optimizing our asset base."
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 technology services (colocation, network connectivity, hosting, cloud and managed services), through its 16 data centres, extensive FastFiber Network® 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: 11.01.2017 - 17:20 Uhr
Sprache: Deutsch
News-ID 1479882
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MONTREAL, QUEBEC
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Music & Radio
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