Cogeco 2005 Annual Report Download - page 9

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(in thousands of dollars, except rates of return and ratios, 2005 2004 Change
customers and terminals, per share data and percentages) $$%
Operations
Revenue 554,404 526,480 5.3
Operating Income
(1)
227,521 203,246 11.9
Net income (loss) 28,721 (32,194) —
Cash Flow
Cash flow from operations 170,938 144,778 18.1
Free Cash Flow
(1)
45,267 43,534 4.0
Financial Condition
Total assets 1,755,796 1,761,379 (0.3)
Indebtedness
(2)
692,481 758,133 (8.7)
Shareholder’s equity 689,484 663,534 3.9
Rates of Return and Ratios
Operating Margin
(1)
41.0 % 38.6 %
Return on Equity
(1)
4.2 % (4.7)%
Indebtedness on Operating Income 3.0 3.7
Interest coverage 4.1 3.5
Customers and Terminals
RGU 1,355,818 1,271,899 6.6
Basic service customers 821,433 823,855 (0.3)
Percent of penetration 56.7 % 57.9 %
HSI service customers 277,648 239,608 15.9
Digital service customers 255,289 208,436 22.5
Digital telephony service customers 1,448 ——
Digital terminals 303,884 240,071 26.6
Per Share Data (basic)
Net income (loss) 0.72 (0.81) —
Cash flow from operations 4.28 3.63 17.9
Weighted average number of outstanding shares (in thousands) 39,965 39,902 0.2
(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 page 13 of the Management Discussion and Analysis for a detailed description of non-GAAP measures.
(2)
Indebtedness is defined as bank indebtedness plus long-term debt.
Cogeco Cable Inc. 2005
7
Financial Highlights