Cogeco 2004 Annual Report Download - page 3

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Cogeco Cable Inc. 2004 1
(in thousands of dollars, except rates of return and ratios, 2004 2003
customers and terminals, per share data and percentages) (restated) Change
$$%
Operations
Revenue 526,480 489,194 8
Operating Income
(1)
203,246 175,609 16
Net loss 32,194 124 —
Cash Flow
Cash flow from operations 144,778 112,525 29
Free Cash Flow
(1)
43,534 2,406 —
Financial condition
Total assets 1,761,379 1,802,744 (2)
Indebtedness
(1)
758,133 806,429 (6)
Shareholders’ equity 663,534 695,089 (5)
Rates of Return and Ratios
Operating Margin
(1)
38.6% 35.9%
Return on equity
(1)
(4.7)% (0.0)%
Indebtedness on Operating Income 3.7 4.6
Interest coverage 3.5 2.9
Customers and Terminals
RGU 1,277,317 1,188,369 7
Basic-service customers 823,855 820,657 —
Percent of penetration 57.9% 58.7% (1)
Discretionary service customers 641,239 639,820 —
HSI service customers 245,026 205,179 19
Digital terminals 240,071 183,087 31
Per Share Data (basic)
Net loss 0.81 0.00 —
Cash flow from operations 3.63 2.82 29
Weighted average number of outstanding shares (in thousands) 39,902 39,882 —
(1)
The indicated terms are not defined under Canadian Generally Accepted Accounting Principles (GAAP) and may not be comparable to other measures presented
by other companies. Refer to pages 7, 8 and 15 of the Management Discussion and Analysis for a detailed description of non-GAAP measures.
FINANCIAL HIGHLIGHTS