Cogeco, the nation's fourth largest cable provider, today announced its financial results for the first quarter of its fiscal year which ended November 30, 2009.
Despite the severe recession Canadians find themselves in, Cogeco said overall revenue for the quarter increased by 6.4% from the same period a year earlier to $328 million while operating income grew 6.2% to $63.6 million.
By November 30th, 2009, the consolidated number of Revenue Generating Units or RGUs, in the Portuguese and Canadian cable sector reached 2,982,023, up 89,785 during the three months RGU's represent the sum of basic service, digital video service, HSI service and digital telephony service customers.
In Canada, Revenue-generating units (RGU's) reached 2,223,035 2,159,863 up 63,172 from the end of fiscal 2009. In the three months from September 1 to November 30, the company gained 8,919 basic cable customers, 17,506 new high speed internet customers, 16,106 new Digital television subscribers and 20,641 new telephone subscribers.
The following are Cogeco Canadian subscriber counts as of November 30, 2009 (numbers in parenthesis' are for August 31, 2009)
- Homes Passed - 1,570,633 (1,565,145)
- Revenue Generating Units - 2,223,035 (2,159,863)
- Basic cable customers - 873,724 (864,805)
- Digital Television customers - 514,504 (498,398)
- High Speed Internet customers - 532,558 (515,052)
- Digital phone lines - 302,249 (281,608)