Cogeco 2008 Annual Report Download - page 4

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Financial Highlights COGECO CABLE INC. 2008 3
FINANCIAL HIGHLIGHTS
2008 2007 CHANGE(in thousands of dollars, except rates of return and ratios,
customers and per share data) $ $ %
OPERATIONS
REVENUE 1,076,787 938,880 14.7
OPERATING INCOME BEFORE AMORTIZATION(1) 445,424 370,753 20.1
NET INCOME 133,282 84,691 57.4
CASH FLOW
CASH FLOW FROM OPERATIONS(1) 360,402 284,565 26.7
FREE CASH FLOW (1) 98,890 30,557 –
FINANCIAL CONDITION
TOTAL ASSETS 3,019,155 2,714,339 11.2
INDEBTEDNESS(2) 1,145,134 1,027,926 11.4
SHAREHOLDERS’ EQUITY 1,305,079 1,165,666 12.0
RATES OF RETURN AND RATIOS
OPERATING MARGIN(1) 41.4% 39.5%
RETURN ON EQUITY 10.8% 8.9%
NET INDEBTEDNESS(3) / OPERATING INCOME
BEFORE AMORTIZATION 2.5 2.6
OPERATING INCOME BEFORE AMORTIZATION / FINANCIAL EXPENSE 6.4 4.4
CUSTOMERS
RGU 2,716,874 2,485,665 9.3
BASIC CABLE SERVICE CUSTOMERS 1,153,229 1,143,160 0.9
PENETRATION AS A PERCENTAGE OF HOMES PASSED 47.5% 48.8%
HSI SERVICE CUSTOMERS 632,768 575,859 9.9
DIGITAL TELEVISION SERVICE CUSTOMERS 466,198 379,879 22.7
TELEPHONY SERVICE CUSTOMERS 464,679 386,767 20.1
PER SHARE DATA (BASIC)(4)
NET INCOME 2.75 1.96 40.3
CASH FLOW FROM OPERATIONS 7.44 6.58 13.1
WEIGHTED AVERAGE NUMBER OF OUTSTANDING
SHARES 48,472,364 43,246,025 12.1
(1) THE INDICATED TERMS DO NOT HAVE STANDARDIZED DEFINITIONS PRESCRIBED BY CANADIAN GAAP AND THEREFORE, MAY NOT BE COMPARABLE TO SIMILAR
MEASURES PRESENTED BY OTHER COMPANIES. FOR FURTHER DETAILS, PLEASE CONSULT THE “NON-GAAP FINANCIAL MEASURES” SECTION ON PAGE 33 OF THE
MANAGEMENT’S DISCUSSION AND ANALYSIS.
(2) INDEBTEDNESS IS DEFINED AS THE TOTAL OF BANK INDEBTEDNESS, LONG-TERM DEBT AND DERIVATIVE FINANCIAL INSTRUMENTS.
(3) NET INDEBTEDNESS IS DEFINED AS INDEBTEDNESS NET OF CASH AND CASH EQUIVALENTS.
(4) PER MULTIPLE AND SUBORDINATE VOTING SHARE.