Business
COGECO achieves strong performance
COGECO achieves strong performance.
About this update from Cogeco Inc.
[{"type":"text","content":"\n\n\n\nMONTREAL, Jan. 11 /CNW Telbec/ - Today, COGECO Inc. (TSX: CGO) announced\nits financial results for the first quarter ended November 30, 2006.\n\n\nIn the first quarter of fiscal year 2007, COGECO's results showed\nsubstantial growth. On a consolidated basis, revenue increased by 45.9% and\noperating income before amortization increased by 45.8% compared to the same\nperiod last year. These increases are mainly attributable to the cable sector.\nIndeed, Cogeco Cable achieved one of the best revenue generating units \n(RGUs(1)) growth of its Canadian operations history and acquired a Portuguese\naffiliate, Cabovisao - Televisao por Cabo, S.A. (Cabovisao). The media sector\ncontributed to these results with better radio advertising revenue and TQS's\nsuccess with its new programming during the fall season. Net income increased\nby 47% compared to the same period last year as a result of substantial growth\nin all sectors.\n\n\nCable sector\n\n\n------------\n\n\nThe newly acquired Portuguese operations, Cabovisao, is on its way to\nachieving its 2007 financial projections supported by the increase of about\n21,300 RGUs. The Portuguese operations generated revenue of $54.1 million\nwhile operating income before amortization amounted to $18.3 million for an\noperating margin of 33.9%.\n\n\nDuring the first quarter, the Canadian operations reported very strong\nRGU increases, with more than 93,000 net additions compared to about 61,000\nfor the same period last year. First quarter revenue grew by 17.1% compared to\nthe same period last year, reaching $167.9 million while operating income\nbefore amortization improved by 14%, reaching $65.3 million.\n\n\nFor the cable sector, revenue increased by 54.8% and operating income\nbefore amortization by 46% compared to the same period last year. The\nCorporation's first quarter operating margin was 37.7% compared to 40% last\nyear due to Cabovisao's lower but rising operating margin. \"We are very\npleased with our cable results. The Portuguese and the Canadian operations\nshould continue to perform well and we have revised our guidance to better\nreflect our expectations,\" stated Mr. Louis Audet, President and CEO of\nCOGECO Inc.\n\n\nMedia Sector\n\n\n------------\n\n\nRevenue and operating income before amortization are up in the media\nsector. \"RYTHME FM revenue echoes our posi...