Cogeco 2006 Annual Report Download - page 66

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(in thousands of dollars, except other 2006 2005 2004 2003 2002
statistics, per share data and ratios) (RESTATED) (RESTATED)
$ $ $ $ $
OPERATIONS
REVENUE 620,001 554,404 526,480 489,194 460,502
OPERATING INCOME BEFORE AMORTIZATION 252,978 227,521 203,246 175,609 159,500
FINANCIAL EXPENSE 57,366 55,692 57,957 61,113 59,645
INCOME (LOSS) BEFORE INCOME TAXES 74,830 46,741 5,075 4,262 (3,224)
NET INCOME (LOSS) 65,556 28,721 (32,194) (124) (4,524)
CASH FLOW
CASH FLOW FROM OPERATIONS 194,739 170,938 144,778 112,525 102,327
ACQUISITIONS OF FIXED ASSETS AND
INCREASE IN DEFERRED CHARGES 164,446 125,671 101,244 110,119 142,062
BUSINESS ACQUISITION 577,431 — — — —
FREE CASH FLOW 30,293 45,267 43,534 2,406 (39,735)
FINANCIAL CONDITION
FIXED ASSETS 1,021,538 697,526 687,960 723,273 726,200
NET ASSETS EMPLOYED(1) 2,210,823 1,595,216 1,619,540 1,663,936 1,684,378
TOTAL ASSETS 2,602,603 1,755,796 1,761,379 1,802,744 1,812,475
INDEBTEDNESS 1,316,977 692,481 758,133 806,429 828,570
SHAREHOLDERS’ EQUITY 745,191 689,484 663,534 695,089 695,197
OTHER STATISTICS
NUMBER OF SHARES OUTSTANDING
AT YEAR-END 39,999,212 39,984,586 39,923,915 39,881,143 39,873,814
WEIGHTED AVERAGE NUMBER OF
OUTSTANDING SHARES 39,990,239 39,964,857 39,901,595 39,881,871 39,871,601
PER SHARE DATA (BASIC)
OPERATING INCOME BEFORE AMORTIZATION 6.33 5.69 5.09 4.40 4.00
NET INCOME (LOSS) 1.64 0.72 (0.81) (0.00) (0.11)
CASH FLOW FROM OPERATIONS 4.87 4.28 3.63 2.82 2.57
RETURN RATIOS
OPERATING MARGIN(2) 40.8)% 41.0)% 38.6)% 35.9)% 34.6%
RETURN ON AVERAGE NET ASSETS EMPLOYED(3) 13.3)% 14.2)% 12.4)% 10.5)% 9.5%
RETURN ON EQUITY(4) 9.1)% 4.2)% (4.7)% (0.0)% (0.6)%
FINANCIAL RATIOS
NET INDEBTEDNESS(6)/OPERATING INCOME
BEFORE AMORTIZATION 4.9)
(7) 3.0 3.7 4.6 5.2
INTEREST COVERAGE(5) 4.4)
(7) 4.1 3.5 2.9 2.7
NET INDEBTEDNESS(6)/SHAREHOLDERS’ EQUITY 1.7 1.0 1.1 1.2 1.2
(1) TOTAL ASSETS LESS CASH AND CASH EQUIVALENTS, ACCOUNTS PAYABLE AND ACCRUED LIABILITIES AND DEFERRED AND PREPAID INCOME.
(2) OPERATING INCOME BEFORE AMORTIZATION/REVENUE.
(3) OPERATING INCOME BEFORE AMORTIZATION /AVERAGE NET ASSETS EMPLOYED.
(4) NET INCOME APPLICABLE TO MULTIPLE VOTING SHARES AND SUBORDINATE VOTING SHARES/AVERAGE SHAREHOLDERS’ EQUITY.
(5) OPERATING INCOME BEFORE AMORTIZATION/FINANCIAL EXPENSE.
(6) INDEBTEDNESS NET OF CASH AND CASH EQUIVALENTS.
(7) FOR FISCAL YEAR 2006, THE RATIO INCLUDES THE FINANCIAL RESULTS FOR A ONE-MONTH PERIOD OF CABOVISÃO – TELEVISÃO POR CABO, S.A.
64 COGECO CABLE INC. 2006 Five-Year Financial Highlights
FIVE-YEAR FINANCIAL HIGHLIGHTS