MONTREAL, QUEBEC — (Marketwired) — 11/02/16 — Today, Cogeco Inc. (TSX: CGO) (“Cogeco” or the “Corporation”) announced its financial results for the fourth quarter ended August 31, 2016, in accordance with International Financial Reporting Standards (“IFRS”).
For the fourth quarter of fiscal 2016:
For the fiscal year ended August 31, 2016:
“As we close our fiscal year 2016, we are generally satisfied with Cogeco Inc.–s overall results for the fourth quarter,” declared Louis Audet, President and Chief Executive Officer of Cogeco Inc. “In our Cogeco Communications Inc. subsidiary, Cogeco Connexion, our Canadian broadband services operations, continues to perform well in the highly competitive and evolving market. Results for the quarter are in line with expectations, demonstrating our capacity to grow, while maintaining rigorous cost control discipline. Our American broadband services operations, Atlantic Broadband, has continued to report steady growth, including an increase in primary service units, confirming strong organic growth, and the solid performance of our newly acquired Connecticut system, which recently launched its Gigabit internet service,” added M. Audet.
“At Cogeco Peer 1, our Business ICT services operations, we have been working to grow our client-base through an enhanced go- to-market strategy, always supported by exceptional customer service,” stated Mr. Audet. “With a solid new senior leadership team now in place, we have been focused on bringing more relevant solutions to market, redefining our product portfolio – collaborating with partners such as Microsoft Azure – to ensure we continue to meet and exceed the needs of our customers. We expect these strategies will lead to growth in future years”
“As for our Cogeco Media subsidiary, once again this quarter we have maintained a leadership position in the Quebec radio market, thanks to strong audience ratings and a solid financial performance,” concluded Louis Audet.
Fiscal 2017 Financial Guidelines
Cogeco revised its fiscal 2017 preliminary financial guidelines issued on July 6, 2016, to take into considerations the recent decision of the CRTC, on October 6, 2016, to reduce significantly on an interim basis the third party Internet access (“TPIA”) capacity rates combined with the changing industry dynamics and the increasingly competitive environment in certain operating segments. Please consult the “Fiscal 2017 financial guidelines” section of the Corporation–s 2016 Annual Report for further details.
FINANCIAL HIGHLIGHTS
ABOUT COGECO
Cogeco Inc. is a diversified holding corporation which operates in the communications and media sectors. Through its Cogeco Communications Inc. subsidiary, Cogeco provides its residential and business customers with video, Internet and telephony services through its two-way broadband fibre networks. Cogeco Communications Inc. operates 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. Through 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 17 data centres, extensive FastFiber Network® and more than 50 points of presence in North America and Europe. Through its subsidiary Cogeco Media, Cogeco owns and operates 13 radio stations across most of Quebec with complementary radio formats serving a wide range of audiences as well as Cogeco News, its radio news agency. Cogeco Inc.–s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CGO). The subordinate voting shares of Cogeco Communications Inc. are also listed on the Toronto Stock Exchange (TSX: CCA).
Contacts:
Source:
Cogeco 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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