Cogeco, the nation's fourth largest cable provider, today announced its financial results for the second quarter of its 2011 fiscal year which ended February 28, 2011.
Cogeco reported overall revenue for the quarter increased by 6.6% from the same period a year earlier to $350.6 million while operating income rose 9.3% to $136 million. Revenue and operating income for the first six months of the year were up 5.5% and 7.6% to $693.4 million and $121.9 million respectively.
Louis Audet, the President and CEO of Cogeco, said the company was "on target" to meet its financial projections for the year.
By February 28, 2011, the consolidated number of Revenue Generating Units or RGUs, in the Portuguese and Canadian cable sector reached 3,327,297, up 57,079 during the three months. RGU's represent the sum of basic service, digital video service, HSI service and digital telephony service customers.
In Canada, Cogeco's revenue-generating units reached 2,474,207, up 52,940 from the previous quarter. The following are Cogeco Canadian subscriber counts as of February 28 2011 (numbers in parenthesis' are for August 31, 2010)
- Homes Passed - 1,604,702 (1,593,743)
- Revenue Generating Units - 2,474,207 (2,350,577)
- Basic cable customers - 880,755 (874,505)
- Digital Television customers - 614,782 (559,418)
- High Speed Internet customers - 586,479 (559,057)
- Digital phone lines - 392,191 (357,597)