Cogeco latest quarter shows 10k digital TV adds in Canada and 23k in Portugal
Friday, October 30th, 2009MONTRÉAL — Today, Cogeco Cable Inc. (TSX: CCA) (“Cogeco Cable” or the “Corporation”) announced its financial results for the fourth quarter and 2009 fiscal year ended August 31, 2009.
Digital Television service customers:
August 31, August 31, 2009 2008 ---------- ---------- Canada 498,398 441,746 Ontario 326,227 288,345 Québec 172,171 153,401 Portugal 102,753 24,452 Total 601,151 466,198
Canada
In Canada, fourth-quarter 2009 RGU net additions were lower than for the corresponding periods last year and reflect an early sign of maturation in some services. The number of net losses for Basic Cable stood at 924 customers compared to 1,476 customers for the corresponding period of the prior year. Fourth-quarter Basic Cable service customer losses are usual and due to seasonal variations.
The Digital Television service net additions stood at 9,674 customers compared to 16,150 customers in the prior year, due to more targeted marketing initiatives in the second half of fiscal 2008 to improve penetration and to the continuing strong interest for the High Definition (“HD”) Television service.
Customer Statistics:
Net additions (losses) ---------------------------------- Quarters ended Years ended August 31, August 31, August 31, ---------------- ---------------- 2009 2009 2008 2009 2008 ---------- ------- ------- ------- ------- Basic Cable service 864,805 (924) (1,476) 7,711 7,937 Digital Television service 498,398 9,674 16,150 56,652 61,867
Europe
In Europe, fourth-quarter of 2009 was marked by a continuing difficult competitive environment in the Iberian Peninsula, intense promotions and advertising initiatives from competitors for their new respective third leg of the triple-play service in the Portuguese market. These factors were the main contributors to net customer losses in the Basic Cable service, and low customer additions in the HSI and Telephony services.
The Digital Television service was launched during the third quarter of 2008, with net additions of 23,456 customers in the fourth quarter of fiscal 2009, compared to 9,982 in the fourth quarter of fiscal 2008. Fiscal 2009 fourth quarter Basic Cable service customers decreased by 5,318 customers compared to a decrease of 4,456 customers in the comparable period of the prior year.
Cabovisão has launched new channels and retention strategies, as well as new marketing and other operating initiatives which should reduce customer attrition in the upcoming quarters.
Customer Statistics:
Net additions (losses) -------------------------------------- Quarters ended Years ended August 31, August 31, August 31, ------------------ ------------------ 2009 2009 2008 2009 2008 ---------- -------- -------- -------- -------- Basic Cable service 259,480 (5,318) (4,456) (36,655) 2,132 Digital Television service 102,753 23,456 9,982 78,301 24,452
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