Cogeco 2005 Annual Report Download - page 13

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The following analysis discusses our operations, financial
condition and outlook. This analysis should be read in conjunction
with the Corporation’s consolidated financial statements and the
notes thereto prepared in accordance with Canadian Generally
Accepted Accounting Principles (GAAP), which start on page 29.
Throughout this discussion, all amounts are in Canadian dollars
unless otherwise indicated. The Management’s Discussion
and Analysis (MD&A) is presented in the following sections:
OVERVIEW OF OUR BUSINESS 12
– Corporate Strategies and Objectives
– Cable Networks
– Key Performance Indicators
– Critical Accounting Policies and Estimates
– Related Party Transactions
– Adoption of New Accounting Standards
– Controls and Procedures
– Uncertainties and Main Risk Factors
PERFORMANCE HIGHLIGHTS 20
OPERATING AND FINANCIAL RESULTS 21
CASH FLOW ANALYSIS 23
FINANCIAL POSITION 24
CAPITAL RESOURCES AND LIQUIDITY 25
THREE-YEAR ANNUAL AND QUARTERLY
FINANCIAL HIGHLIGHTS 27
FISCAL 2006 FINANCIAL GUIDELINES 28
ADDITIONAL INFORMATION 28
FORWARD-LOOKING STATEMENTS
Certain statements in this annual report may constitute forward-
looking information within the meaning of securities laws.
Forward-looking information may relate to our future outlook
and anticipated events, our business, our operations, our financial
performance, our financial condition or our results and, in some
cases, can be identified by terminology such as “may”, “will”,
“should”, “expect”, “plan”, “anticipate”, “believe”, “intend”,
“estimate”, “predict”, “potential”, “continue” or other similar
expressions concerning matters that are not historical facts.
Particularly, statements regarding our future operating results
and economic performance, our objectives and strategies are
forward-looking statements. These statements are based on
certain factors and assumptions including expected growth,
results of operations, performance and business prospects and
opportunities, which we believe are reasonable as of the current
date. While we consider these assumptions to be reasonable
based on information currently available to us, they may prove
to be incorrect. Forward looking-information is also subject to certain
factors, including uncertainties and main risk factors, which are
described in a separate section starting on page 17 of this MD&A,
that could cause actual results to differ materially from what
we currently expect. These factors include technological changes,
changes in market and competition, governmental or regulatory
developments, general economic conditions, the development
of new products and services, the enhancement of existing
products and services, the introduction of competing products
having technological or other advantages, many of which are
beyond our control. Therefore, future events and results may vary
significantly from what we currently foresee. You should not place
undue importance on forward-looking information and should not
rely upon this information as of any other date. While we may elect
to, we are under no obligation (and expressly disclaim any such
obligation) and do not undertake to update or alter this information
before the Corporation’s next fiscal quarter.
Cogeco Cable Inc. 2005
11
Management’s Discussion and Analysis