Cogeco 2009 Annual Report Download - page 5

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4 COGECO CABLE INC. 2009 Financial highlights
FINANCIAL HIGHLIGHTS
YEARS ENDED AUGUST 31, 2009
2008
(1)(2)
CHANGE
(in thousands of dollars, except percentages, per share data and RGU growth) $
$
%
OPERATIONS
REVENUE
1,217,837
1,076,787
13.1
OPERATING INCOME BEFORE AMORTIZATION
(3)
524,395
445,452
17.7
OPERATING MARGIN
(3)
43.1%
41.4%
–
OPERATING INCOME
253,965
217,153
17.0
IMPAIRMENT OF GOODWILL AND INTANGIBLE ASSETS
399,648
–
–
NET INCOME (LOSS)
(256,675)
133,282
–
ADJUSTED NET INCOME
(3)
103,592
109,280
(5.2)
CASH FLOW
CASH FLOW FROM OPERATING ACTIVITIES
431,688
392,883
9.9
CASH FLOW FROM OPERATIONS
(3)
400,725
360,402
11.2
FREE CASH FLOW
(3)
95,412
98,890
(3.5)
FINANCIAL CONDITION
TOTAL ASSETS
2,665,403
3,019,155
(11.7)
INDEBTEDNESS
(4)
1,054,506
1,147,399
(8.1)
SHAREHOLDERS’ EQUITY
1,031,663
1,305,079
(21.0)
RGU GROWTH
175,364
231,209
(24.2)
PER SHARE DATA
(5)
NET INCOME (LOSS)
(5.29)
2.75
–
ADJUSTED NET INCOME
(3)
2.13
2.25
(5.3)
WEIGHTED AVERAGE NUMBER OF OUTSTANDING SHARES
48,545,296
48,472,364
0.2
(1) INCLUDES THE RESULTS OF COGECO DATA SERVICES INC. SINCE THE DATE OF ACQUISITION OF CONTROL ON JULY 31, 2008.
(2) CERTAIN COMPARATIVE FIGURES HAVE BEEN RECLASSIFIED TO CONFORM TO THE CURRENT YEAR’S PRESENTATION. FINANCIAL INFORMATION HAS BEEN RESTATED
TO REFLECT THE PRESENTATION OF FOREIGN EXCHANGE GAINS OR LOSSES AS FINANCIAL EXPENSE INSTEAD OF OPERATING COSTS.
(3) THE INDICATED TERMS DO NOT HAVE STANDARDIZED DEFINITIONS PRESCRIBED BY CANADIAN GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (“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 37 OF THE MANAGEMENT’S DISCUSSION AND ANALYSIS.
(4) INDEBTEDNESS IS DEFINED AS THE TOTAL OF BANK INDEBTEDNESS, PRINCIPAL ON LONG-TERM DEBT AND OBLIGATIONS UNDER DERIVATIVE FINANCIAL INSTRUMENTS.
(5) PER MULTIPLE AND SUBORDINATE VOTING SHARE.
(in millions of dollars, except percentages and RGU growth)
ORIGINAL
PROJECTIONS
NOVEMBER 3, 2008
FISCAL 2009
$
REVISED
PROJECTIONS
APRIL 8, 2009
FISCAL 2009
$
ACTUALS
FISCAL 2009
$
ACHIEVEMENT
OF THE REVISED
PROJECTIONS
FISCAL 2009
FINANCIAL GUIDELINES
REVENUE
1,210 1,205 1,218 Surpassed
OPERATING INCOME BEFORE AMORTIZATION
508 500 524 Surpassed
OPERATING MARGIN
42% 42% 43.1% Surpassed
NET INCOME (LOSS)
107 (275)
(257)
Surpassed
CAPITAL EXPENDITURES AND INCREASE IN DEFERRED
CHARGES
300 300 305 Under-achieved
FREE CASH FLOW
90 80 95 Surpassed
RGU GROWTH
100,000 100,000 175,364 Surpassed