Business
Cogent Communications Reports Third Quarter Results and Increases its Regular Quarterly Dividend on its Common Stock by $0.025
WASHINGTON, Nov. 4, 2021 /PRNewswire/ -- Financial and Business Highlights Cogent approved an increase of $0.025 per share to its regular quarterly dividend
About this update from Cogent Communications Holdings, Inc.
[{"type":"text","content":"WASHINGTON, Nov. 4, 2021 /PRNewswire/ -- \n\n \n \n \n \n \n \n\n \nFinancial and Business Highlights\nCogent approved an increase of $0.025 per share to its regular quarterly dividend for a total of $0.830 per share for Q4 2021 as compared to $0.805 per share for Q3 2021 – Cogent's thirty-seventh consecutive quarterly dividend increase. The Q4 2021 $0.830 dividend per share represents an annual increase of 13.7% from the dividend per share of $0.730 for Q4 2020.Service revenue increased from Q2 2021 to Q3 2021 by 0.03% and increased from Q3 2020 to Q3 2021 by 4.0%. Service revenue, on a constant currency basis, increased from Q2 2021 to Q3 2021 by 0.5% and increased from Q3 2020 to Q3 2021 by 3.6%.GAAP gross profit increased by 3.8% from Q3 2020 to $68.7 million for Q3 2021. Non-GAAP gross profit increased by 3.8% from Q3 2020 to $91.4 million for Q3 2021. Net cash provided by operating activities increased by 19.3% from Q2 2021 to $47.4 million for Q3 2021 and increased from Q3 2020 to Q3 2021 by 43.8%. Sales rep productivity – units per full time equivalent sales rep per month - increased from 3.7 for Q3 2020 to 4.3 for Q3 2021. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 1.0% from Q2 2021 to $57.8 million for Q3 2021 and increased by 5.8% from Q3 2020. EBITDA margin increased by 30 basis points from Q2 2021 to 39.0% for Q3 2021 and increased by 60 basis points from Q3 2020. Cogent lit its 3,000th on-net building in Q3 2021 and now delivers its services in 50 countries.Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (\"Cogent\") today announced service revenue of $147.9 million for the three months ended September 30, 2021, an increase of 0.03% from the three months ended June 30, 2021 and an increase of 4.0% from the three months ended September 30, 2020. Foreign exchange negatively impacted service revenue growth from the three months ended June 30, 2021 to the three months ended September 30, 2021 by $0.7 million and positively impacted service revenue growth from the three months ended September 30, 2020 to the three months ended September 30, 2021 by $0.6 million. On a constant currency basis, service revenue increased by 0.5% from the three months ended June 30, 2021 to the three months ended September 30, 2021 and grew by 3.6% from the three months ended September 30, 2020 t...