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Cogeco revenues rise 4.2 percent

Fri, 12/16/2005 - 6:09am
Jeff Baumgartner, CED

Canadian service operator Cogeco Inc. posted Q4 revenues of $675.6 million, up 4.2 percent from a year ago.

Those figures were boosted by Cogeco's cable division, which saw revenues jump $27.9 million, or 5.3 percent, and offset a $400,000 decline in the company's media division, which includes the Rythme FM network and TQS family of TV stations.

Cogeco also recorded a net loss of $19.8 million, but without impairment of goodwill and other "intangible assets" for fiscal 2005, it would have posted net income of $9.8 million.

Cogeco said it lost 2,422 basic subs for the fiscal year, but that was partly offset by a 22.5 percent increase in digital subs, and a 15.9 percent increase in high-speed Internet customers. Overall, the company serves about 1.45 million cable homes.

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