Cogeco Cable's continued organic growth and acquisitions contribute positively to the fourth quarter and 2008 year end results
Thursday, October 30th, 2008MONTREAL — Today, Cogeco Cable Inc. (TSX: CCA) (the “Corporation”) announced its financial results for the fourth quarter and fiscal year ended August 31, 2008.
Canadian Operations
The Digital Television service net additions stood at 16,150 customers compared to 8,747 customers for the same period in the prior year due to targeted marketing initiatives in 2008 to improve the penetration rate and the continuing strong interest for HD technology.
Net additions (losses) % of Penetration ---------------------------------- ---------------- Quarters ended Years ended August 31, August 31, August 31, August 31, 2008 2008 2007 2008 2007 2008 2007 ---------- ------- ------- ------- ------- ------- ------- Basic Cable service customers 857,094 (1,476) (2,627) 7,937 15,980 - - Digital Television service customers 441,746 16,150 8,747 61,867 52,515 52.4 45.8
European Operations
The Cabovisão (Televisão por Cabo, S.A.) Digital Television service was launched in the third quarter of 2008, with net additions of 9,982 customers in the fourth quarter, for a total of 24,452 net additions since the launch, surpassing management expectations.
Net additions (losses) % of Penetration ---------------------------------- ---------------- Quarters ended Years ended August 31, August 31, August 31, August 31, 2008 2008 2007 2008 2007 2008 2007 ---------- ------- ------- ------- ------- ------- ------- Basic Cable service customers 296,135 (4,456) 4,756 2,132 24,309 - - Digital Television service customers 24,452 9,982 - 24,452 - 8.3 -
More: Earnings Release
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