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Cogent Communications Holdings, Inc. (CCOI) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Cogent Communications Holdings, Inc.

CIK: 1158324 Ticker: CCOI

Exhibit 99.1

 

GRAPHIC

FOR IMMEDIATE RELEASE

 

Cogent Contacts:

 

For Public Relations:

For Investor Relations:

Travis Wachter

John Chang

+ 1 (202) 295-4217

+ 1 (202) 295-4212

twachter@cogentco.com

investor.relations@cogentco.com

 

Cogent Communications Reports Fourth Quarter 2014 and Full Year 2014 Results
and Increases Regular Quarterly Dividend on Common Stock

 

Financial and Business Highlights

 

·                  Service revenue for Q4 2014 of $96.7 million — an increase of 7.7% from $89.9 million for Q4 2013 and an increase of 1.1% from $95.7 million for Q3 2014

 

·                  On a constant currency basis, service revenue increased by 2.5% from Q3 2014 to Q4 2014 and increased by 10.0% from Q4 2013 to Q4 2014

 

·                  Service revenue for 2014 of $380.0 million — an increase of 9.2% from $348.0 million for 2013

 

·                  On a constant currency basis, service revenue increased by 9.6% from 2013 to 2014

 

·                  Cogent approves a 3.2% increase to its regular quarterly dividend to $0.32 per common share to be paid on March 26, 2015 to shareholders of record on March 11, 2015

 

·                  Under Cogent’s return of capital program, Cogent purchased 328,000 shares of its common stock for $10.6 million during Q4 2014 at an average price of $32.14 per share

·                  Under Cogent’s return of capital program, Cogent will pay an additional $1.4 million, or $0.03 per share with its regular quarterly dividend in order to pay a total of $12.0 million under its return of capital program

 

·                  In February 2015 Cogent refinanced $240.0 million of 8.375% senior secured debt due in 2018 with $250.0 million of 5.375% senior secured debt due in 2022 resulting in a $6.7 million annual reduction to cash interest expense

·                  EBITDA, as adjusted, for Q4 2014 of $33.6 million — an increase of 6.5% from $31.5 million for Q4 2013 and a decrease of 0.4% from $33.7 million for Q3 2014

·                  EBITDA, as adjusted, for 2014 of $133.0 million — an increase of 10.6% from $120.2 million for 2013

·                  EBITDA, as adjusted, margin was 34.7% for Q4 2014, 35.1% for Q4 2013 and 35.3% for Q3 2014

·                  EBITDA, as adjusted, margin increased to 35.0% for 2014 from 34.5% for 2013

·                  Legal fees included in SG&A expenses and associated with defending net neutrality were $1.2 million for Q4 2014 and $5.2 million for 2014

·                  Cash and cash equivalents were $287.8 million at December 31, 2014

·                  There were 2,125 buildings on the Cogent network at the end of Q4 2014

·                  There were 46,222 customer connections on the Cogent network at the end of Q4 2014 — an increase of 15.1% from 40,174 customer connections at the end of Q4 2013 and an increase of 3.6% from 44,630 customer connections at the end of Q3 2014

 


The following information was filed by Cogent Communications Holdings, Inc. (CCOI) on Wednesday, February 25, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Comprehensive Income (loss) (parenthetical)
Accrued And Other Liabilities:
Accrued And Other Liabilities: (details)
Accrued And Other Liabilities: (tables)
Commitments And Contingencies:
Commitments And Contingencies: (details 2)
Commitments And Contingencies: (details)
Commitments And Contingencies: (tables)
Description Of The Business And Summary Of Significant Accounting Policies:
Description Of The Business And Summary Of Significant Accounting Policies: (details 2)
Description Of The Business And Summary Of Significant Accounting Policies: (details 3)
Description Of The Business And Summary Of Significant Accounting Policies: (details)
Description Of The Business And Summary Of Significant Accounting Policies: (policies)
Description Of The Business And Summary Of Significant Accounting Policies: (tables)
Geographic Information:
Geographic Information: (details)
Geographic Information: (tables)
Income Taxes:
Income Taxes: (details)
Income Taxes: (tables)
Long-term Debt:
Long-term Debt: (details)
Long-term Debt: (tables)
Property And Equipment:
Property And Equipment: (details)
Property And Equipment: (tables)
Quarterly Financial Information (unaudited):
Quarterly Financial Information (unaudited): (details)
Quarterly Financial Information (unaudited): (tables)
Related Party Transactions:
Related Party Transactions: (details)
Schedule Ii Valuation And Qualifying Accounts
Schedule Ii Valuation And Qualifying Accounts (details)
Stock Option And Award Plan:
Stock Option And Award Plan: (details 2)
Stock Option And Award Plan: (details)
Stock Option And Award Plan: (tables)
Stockholders' Equity:
Stockholders' Equity: (details 2)
Stockholders' Equity: (details 3)
Stockholders' Equity: (details)
Stockholders' Equity: (tables)
Subsequent Events:
Subsequent Events: (details)
Ticker: CCOI
CIK: 1158324
Form Type: 10-K Annual Report
Accession Number: 0001047469-15-001355
Submitted to the SEC: Fri Feb 27 2015 9:17:21 AM EST
Accepted by the SEC: Fri Feb 27 2015
Period: Wednesday, December 31, 2014
Industry: Communications Services

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