Light Reading

Cogeco Reports Q3, Abandons IPTV

Light Reading
News Wire Feed
Light Reading

MONTREAL -- Today, COGECO Inc. (TSX: CGO) (“COGECO” or the “Corporation”) announced its financial results for the third quarter of fiscal 2014, ended May 31, 2014, in accordance with International Financial Reporting Standards (“IFRS”). For the third quarter and first nine months of fiscal 2014:

  • Third quarter revenue increased by $31.6 million, or 6.3%, to reach $536.1 million mainly driven by growth in the Cable segment through the organic growth from all of our operating segments as well as favorable foreign exchange rates in our foreign operations. For the nine-month period ended May 31, 2014, revenue reached close to $1.6 billion, an increase of $242.0 million or 18.2%. Revenue increase is mainly attributable to the full year impact of the acquisitions, in the Cable segment, of Atlantic Broadband and Peer 1 Hosting ("the recent acquisitions") which both occurred during fiscal 2013 combined with the organic growth from all of our operating segments and the favorable foreign exchange rates in our foreign operations;
  • Adjusted EBITDA increased by 5.5% to $233.1 million compared to the third quarter of fiscal 2013, and by 18.3% to $678.9 million for the first nine months when compared to the same period of the prior year. The rapid progression for both periods resulted mainly from the recent acquisitions and the organic growth as well as the favorable foreign exchange rates from our foreign operations compared to the same period of last year.

  • During the third quarter of fiscal 2014, the Corporation's indirect cable subsidiary, Cogeco Cable Canada, recognized an impairment of $32.2 million of property, plant and equipment, capitalized wages and borrowing costs related to an Internet Protocol Television ("IPTV") solution project on which its Canadian operations had worked. As a result of the unexpected performance issues encountered with the platform, it had to be abandoned by Cogeco Cable Canada.

    Subsequently, in order to enhance its competitiveness, the Cogeco Cable Canada subsidiary has concluded a partnership with TiVo Inc. (“TiVo”), a global leader in next-generation television services that enable viewers to consume content across all screens in and out-of-the home to be launched at Cogeco Cable Canada by mid-fiscal 2015. The TiVo solution was successfully launched in the first half of fiscal 2014 at Cogeco Cable's subsidiary, Atlantic Broadband with great customer acceptance

    Cogeco Cable Inc. (Toronto: CCA)

    (0)  | 
    Comment  | 
    Print  | 
  • Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
    Educational Resources
    sponsor supplied content
    Educational Resources Archive
    From The Founder
    Steve Saunders provides an overview of white box networking and introduces a new "slim line" version of the OSI 7-layer model.
    Flash Poll
    Live Streaming Video
    CLOUD / MANAGED SERVICES: Prepping Ethernet for the Cloud
    Moderator: Ray LeMaistre Panelists: Jeremy Bye, Leonard Sheahan
    Wagner’s Ring
    How Might Open Source Fail?

    11|24|15   |     |   (2) comments

    Open source, SDN, and NFV are looking inevitable – but performance, standards proliferation and regulatory capture could derail the movement.
    LRTV Custom TV
    NFV Lifecycle Orchestration – a Fresh Vision for Telco

    11|23|15   |   6.40   |   (0) comments

    Simon Osborne, CTO Comptel, and Heavy Reading's Caroline Chappell reveal the business impacts of new SDN and NFV, and what the term service orchestration actually means. Together they define Lifecycle Service Orchestration and how the virtualized future will look for telecoms operators.
    Between the CEOs
    Cisco's Virtual Role in Saudi

    11|20|15   |   12:15   |   (1) comment

    Light Reading founder and CEO Steve Saunders talks with Zayan Sadek, Regional Manager at Cisco Systems, about the competitive communications services market and advance of virtualization in Saudi Arabia.
    LRTV Huawei Video Resource Center
    Huawei Leads With Kubernetes for Cloud PaaS

    11|19|15   |   08:26   |   (0) comments

    Huawei is looking to Kubernetes as a key tool for building robust open source technologies for customers and partners, said Ying Xiong, chief architect of cloud platform at Huawei, in an interview with Light Reading West Coast Bureau Chief Mitch Wagner at the recent Kubecon conference.
    Women in Comms Introduction Videos
    WiC in London: The Highlight Reel

    11|19|15   |   5:33   |   (1) comment

    NetCracker's Mervat El Dabae headlines an inspiring morning in London with help from leading women from Vodafone, TalkTalk, Hyperoptics and Ciena.
    LRTV Documentaries
    Why Saudi's So Hot for New Tech

    11|19|15   |   05:07   |   (0) comments

    Light Reading's Steve Saunders reports from Saudi Arabia, a hyper-competitive market desperate to embrace the next generation of communications technologies and services.
    LRTV Custom TV
    Why Data Models Deliver More Value Than Information Models

    11|19|15   |   5.08   |   (0) comments

    Stefan Vallin argues that more automation is needed to manage end-to-end services and the hybrid networks they run on, and that data models are key to achieving this.
    Telecom Innovators Video Showcase
    SDN Management & Orchestration in the WAN

    11|17|15   |   7.20   |   (0) comments

    Carol Wilson and Packet Design CTO Cengiz Alaettinoglu discuss CSPs' SDN service delivery and assurance requirements. Learn about a modular approach to building automated control, orchestration and management functions for the WAN that are policy- and analytics-driven.
    LRTV Custom TV
    Flash Networks: Optimizing for Radio Spectral Efficiency

    11|17|15   |   3:34   |   (0) comments

    Today most optimization vendors only focus on optimizing voice or data. Ofer Gottfried, Flash Networks' CTO, shows how improving data throughput and maximizing spectral efficiency reduces capital and operating expenses while also providing a platform for user engagement.
    LRTV Custom TV
    Making Pay-TV User Experiences Millennial-Friendly

    11|16|15   |   6:42   |   (0) comments

    The unique challenge of reaching and engaging Millennials is driving pay-TV video experience transformation that can include higher quality UIs, viewing of multiple content streams at once and seamless transitions between handheld devices and the television.
    LRTV Huawei Video Resource Center
    Huawei Electric Power Summit 2015 – Addis Ababa, Ethiopia

    11|16|15   |   1:28   |   (0) comments

    Huawei, together with Ethiopia's Ministry of Water, Irrigation and Electricity, hosted the Huawei Electric Power Summit 2015 in Addis Ababa, Ethiopia. The event gathered industry experts and senior executives of global electric power companies to discuss emerging industry trends including: improvements in new energy conversion efficiency, reduction of line losses ...
    Between the CEOs
    Mobily on Bringing Innovation to Saudi Arabia

    11|13|15   |     |   (2) comments

    Mobily CEO Ahmad Farroukh talks to Steve Saunders about the realities of being a mobile operator in Saudi Arabia.
    Allot MobileTrends Report H2/2015 reveals how daily online behavior can be used to discover smarter ways to profile customers and propose valuable, real-time offers to them.
    Hot Topics
    Samsung to Sell Wireless Networking Unit?
    Dan Jones, Mobile Editor, 11/23/2015
    Sprint Undercuts Rivals With Half-Price Offers
    Dan Jones, Mobile Editor, 11/18/2015
    Routers Are Facing Extinction: Let’s Not Save Them
    Scott Sumner, VP solutions marketing, Accedian Networks, 11/18/2015
    Sprint, Verizon Face Reorganization, Job Cuts
    Dan Jones, Mobile Editor, 11/20/2015
    Sprint to Get $1.2B From New Leasing Venture
    Dan Jones, Mobile Editor, 11/23/2015
    Like Us on Facebook
    Twitter Feed
    December 15, 2015
    Virtualizing Cable Services
    Webinar Archive
    BETWEEN THE CEOs - Executive Interviews
    Light Reading founder and CEO Steve Saunders talks with Zayan Sadek, Regional Manager at Cisco Systems, about the competitive communications services market and advance of virtualization in Saudi Arabia.
    Mobily CEO Ahmad Farroukh talks to Steve Saunders about the realities of being a mobile operator in Saudi Arabia.
    Cats with Phones
    Live Digital Audio

    Broadband speeds are ramping up across Europe as the continent, at its own pace, follows North America towards a gigabit society. But there are many steps to take on the road to gigabit broadband availability and a number of technology options that can meet the various requirements of Europe’s high-speed fixed broadband network operators. During this radio show we will look at some of the catalysts for broadband network investments and examine the menu of technology options on offer, including vectoring and for copper plant evolution and the various deployment possibilities for FTTH/B.