Cogeco Cable posts third quarter (end-May 2013) results
Thursday, July 11th, 2013MONTRÉAL, Québec — Today, Cogeco Cable Inc. (TSX:CCA) (“Cogeco Cable” or the “Corporation”) announced its financial results for the third quarter of fiscal 2013, ended May 31, 2013, in accordance with International Financial Reporting Standards (“IFRS”).
Canadian Cable Services
For the third quarter and the first nine months net customer losses for Television service customers stood at 7,363 and 17,771, respectively, compared to 4,453 and 9,112 for the same periods of the prior year. Television service customer net losses are mainly due to the promotional offers of competitors for the video service combined with the tightening of our customer credit controls.
Net additions (losses) ----------------------------------- Quarters ended Nine months ended ---------------- ----------------- May 31, May 31, May 31, May 31, May 31, 2013 2013 2012 2013 2012 --------- ------- ------- -------- ------- Television service customers 845,344 (7,363) (4,453) (17,771) (9,112)
American Cable Services
On November 30, 2012, the Corporation completed the acquisition of Atlantic Broadband (ABB), an independent cable system operator formed in 2003 and providing Analogue and Digital Television, as well as HSI and Telephony services. ABB operates cable systems in Western Pennsylvania, Southern Florida, Maryland, Delaware and South Carolina. Fiscal 2013 nine-month period included six months of operations of ABB.
Net additions (losses) ----------------------------------- Quarters ended Nine months ended ---------------- ----------------- May 31, May 31, May 31, May 31, May 31, 2013 2013 2012 2013 2012 --------- ------- ------- -------- ------- Television service customers 233,941 (1,044) - (3,372) -
Customer statistics – Television service customers
May 31, February 28, November 30, August 31, May 31, 2013 2013 2012 2012 2012 --------- ------------ ------------ ---------- ------- Total 1,079,285 1,087,692 1,098,352 863,115 868,873 CANADA 845,344 852,707 861,039 863,115 868,873 US 233,941 234,985 237,313 - - Digital 924,155 922,703 922,576 771,503 765,585 CANADA 779,950 778,728 780,724 771,503 765,585 US 144,205 143,975 141,852 - - Analogue 155,130 164,989 175,776 91,612 103,288 CANADA 65,394 73,979 80,315 91,612 103,288 US 89,736 91,010 95,461 - -
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