Cogeco 2002 Annual Report Download - page 4

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3
Cogeco Cable Inc.
Financial Highlights
Years ended August 31,
(in thousands of dollars, except rates of return and ratios,
customers and per share data)
2002 2001 Variance
Operations
Revenue $ 447,984 $ 438,768 2%
Operating income before
depreciation and amortization 168,346 160,509 5
Net income from recurring operations 7,200 26,616 (73)
Net income 3,788 5,818 (35)
Cash Flow(1) 111,173 105,369 6
Financial Condition
Total assets $1,833,967 $1,784,264 3%
Total indebtedness 829,599 805,572 3
Shareholders’ equity 716,797 712,877 1
Rates of Return and Ratios
Operating margin before depreciation and amortization 37.6% 36.6%
Return on average shareholders’ equity 0.5 1.0
Total indebtedness on operating income
before depreciation and amortization 4.9 5.0
Interest coverage 2.8 3.0
Customers
Basic service customers 836,368 878,766 (5)%
Percent of penetration 60.8% 64.7%
Discretionary Tier 1 service customers 633,078 684,026 (7)
Pay-TV service customers 116,484 108,626 7
High-speed Internet service customers 158,192 107,938 47
Digital terminals 144,950 105,292 38
Per Share (basic)
Net income from recurring operations $ 0.18 $ 0.69 (74)%
Net income 0.10 0.15 (33)
Cash Flow(1) 2.79 2.71 3
Shareholders’ equity 17.98 17.88 1
Weighted average number
of outstanding shares (in thousands) 39,872 38,813 3
(1) The Corporation defines “Cash Flow” as cash flow from operating activities before unusual items and changes in non-cash working capital items.