Cogeco Communications Inc. Releases its Results for the Third Quarter of Fiscal 2017
- Revenue increased by $24.9 million, or 4.6%, to reach $565.2 million; - Adjusted EBITDA(1) increased by $11.1 million, or 4.6%, to reach $254.2 million; - Free cash flow(1) amounted to $104.7 million, an increase of $20.1 million, or 23.7%; - The Corporation's subsidiary, Atlantic Broadband, announced the acquisition of all MetroCast cable systems; 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) -- 07/13/17 -- Today, Cogeco Communications Inc. (TSX: CCA) ("Cogeco Communications" or the "Corporation") announced its financial results for the third quarter ended May 31, 2017, in accordance with International Financial Reporting Standards ("IFRS").
For the third quarter of fiscal 2017:
For the nine-month period ended May 31, 2017:
"Overall we are pleased with our results for the third quarter of fiscal 2017," declared Louis Audet, President and Chief Executive Officer of Cogeco Communications Inc. "Cogeco Connexion, our Canadian broadband subsidiary, has seen marked growth in terms of both revenue and EBITDA."
"Atlantic Broadband continues to produce positive results, in line with expectations," added M. Audet. "Our American subsidiary is concentrating its efforts on investments in Florida, a region with a strong potential for growth. On this note, we were very pleased to announce on July 10, the acquisition of the MetroCast cable systems, allowing Atlantic Broadband to increase its presence in the growing and lucrative U.S. cable market. Moreover, we are delighted to be partnering with CDPQ in this transaction, providing us with a long-term partner with a similar vision," stated Mr. Audet.
"At Cogeco Peer 1, our Business ICT subsidiary, the leadership team continues to build and consolidate its client relationships, with a focus on medium and large customers, positioning themselves as a trusted advisor bringing more relevant solutions to market and cross-selling services," stated Mr. 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 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).
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: 13.07.2017 - 15:58 Uhr
Sprache: Deutsch
News-ID 1513501
Anzahl Zeichen: 3707
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MONTREAL, QUEBEC
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Music & Radio
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