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Cogent Communications Holdings, Inc. (CCOI) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Cogent Communications Holdings, Inc.

CIK: 1158324 Ticker: CCOI

Exhibit 99.1

 

FOR IMMEDIATE RELEASE

 

Cogent Contacts:

 

For Public Relations:

For Investor Relations:

Jocelyn Johnson

John Chang

+ 1 (202) 295-4299

+ 1 (202) 295-4212

jajohnson@cogentco.com

investor.relations@cogentco.com

 

Cogent Communications Reports Fourth Quarter and Full Year 2018 Results
and Increases Regular Quarterly Dividend on Common Stock

 

Financial and Business Highlights

 

·                  Cogent approves a 3.6% increase of $0.02 per share to its regular quarterly dividend to $0.58 per share  - the twenty-sixth consecutive quarterly dividend increase

·                  Dividends for 2018 totaled $97.9 million, or $2.12 per share, with 55.0% treated as a return of capital and 45.0% treated as dividends for US federal income tax purposes

·                  Service revenue, on a constant currency basis, increased by 1.8% from Q3 2018 to Q4 2018, increased from Q4 2017 to Q4 2018 by 6.2% and increased from full year 2017 to full year 2018 by 6.4% to $520.2 million

o      Service revenue increased by 1.5% from Q3 2018 to Q4 2018 to $132.0 million, increased from Q4 2017 to Q4 2018 by 5.4% and increased from full year 2017 to full year 2018 by 7.2%

·                  EBITDA margin increased by 150 basis points from Q4 2017 to 36.0% and increased from full year 2017 to full year 2018 by 230 basis points to 35.5%

o      EBITDA increased by 1.4% from Q3 2018 to Q4 2018 to $47.8 million, increased from Q4 2017 to Q4 2018 by 10.0% and increased by 14.4% from full year 2017 to $184.5 million

·                  GAAP gross profit increased by 6.7% from Q4 2017 to $55.4 million for Q4 2018 and increased by 9.7% from full year 2017 to $219.4 million for full year 2018

o      GAAP gross margin increased by 50 basis points from Q4 2017 to Q4 2018 and increased by 100 basis points from full year 2017 to full year 2018

·                  Cash flow from operations increased by 28.3% from Q3 2018 to Q4 2018 to $40.7 million, increased from Q4 2017 to Q4 2018 by 29.9% and increased by 19.9% to $133.9 million from full year 2017 to full year 2018

 

[WASHINGTON, D.C. February 21, 2019]

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) today announced service revenue of $132.0 million for the three months ended December 31, 2018, an increase of 5.4% from the three months ended December 31, 2017 and an increase of 1.5% from the three months ended September 30, 2018. Service revenue was $520.2 million for the year ended December 31, 2018, an increase of 7.2% from the year ended December 31, 2017.   Foreign exchange negatively impacted service revenue growth from the

 


The following information was filed by Cogent Communications Holdings, Inc. (CCOI) on Thursday, February 21, 2019 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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Inside Cogent Communications Holdings, Inc.'s 10-K Annual Report:

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 Cash Flows (Parenthetical)
Consolidated Statements Of Changes In Stockholders' Equity (Deficit)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Accrued And Other Liabilities:
Accrued And Other Liabilities: (Details)
Accrued And Other Liabilities: (Tables)
Commitments And Contingencies:
Commitments And Contingencies: (Tables)
Commitments And Contingencies: Capital Leases - Fiber Lease Agreement (Details)
Commitments And Contingencies: Capital Leases - Future Minimum Payments (Details)
Commitments And Contingencies: Current And Potential Litigation (Details)
Commitments And Contingencies: Defined Contribution Plan (Details)
Commitments And Contingencies: Operating Leases And Other Facility Leases (Details)
Commitments And Contingencies: Unconditional Purchase Obligations (Details)
Description Of The Business And Summary Of Significant Accounting Policies:
Description Of The Business And Summary Of Significant Accounting Policies: (Policies)
Description Of The Business And Summary Of Significant Accounting Policies: (Tables)
Description Of The Business And Summary Of Significant Accounting Policies: Allowance For Doubtful Accounts (Details)
Description Of The Business And Summary Of Significant Accounting Policies: Basic And Diluted Net Income Per Common Share (Details)
Description Of The Business And Summary Of Significant Accounting Policies: Description Of Business (Details)
Description Of The Business And Summary Of Significant Accounting Policies: Financial Instruments (Details)
Description Of The Business And Summary Of Significant Accounting Policies: Gross Receipts Taxes, Universal Service Fund And Other Surcharges (Details)
Description Of The Business And Summary Of Significant Accounting Policies: Property And Equipment (Details)
Description Of The Business And Summary Of Significant Accounting Policies: Recent Accounting Pronouncements - Adopted (Details)
Description Of The Business And Summary Of Significant Accounting Policies: Recent Accounting Pronouncements - To Be Adopted (Details)
Description Of The Business And Summary Of Significant Accounting Policies: Revenue Recognition (Details)
Geographic Information:
Geographic Information: (Details)
Geographic Information: (Tables)
Income Taxes:
Income Taxes: (Tables)
Income Taxes: Components Of Income (Loss) Before Income Taxes (Details)
Income Taxes: Effective Income Tax Rate Reconciliation (Details)
Income Taxes: Income Tax Expense (Details)
Income Taxes: Loss Carry-Forwards (Details)
Income Taxes: Tax Cuts And Jobs Act (Details)
Income Taxes: Temporary Differences (Details)
Long-Term Debt:
Long-Term Debt: (Tables)
Long-Term Debt: Debt Extinguishment, Redemption And New Debt Issuances - $445.0 Million 2022 Notes (Details)
Long-Term Debt: Limitations Under The Indentures (Details)
Long-Term Debt: Long-Term Debt Maturities (Details)
Long-Term Debt: Senior Unsecured Notes - $189.2 Million 2021 Notes (Details)
Property And Equipment:
Property And Equipment: (Details)
Property And Equipment: (Tables)
Property And Equipment: Exchange Agreement (Details)
Property And Equipment: Installment Payment Agreement (Details)
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: (Tables)
Stock Option And Award Plan: Incentive Award Plan (Details)
Stock Option And Award Plan: Incentive Award Plan - Activity (Details)
Stock Option And Award Plan: Incentive Award Plan Fair Value Assumptions (Details)
Stock Option And Award Plan: Incentive Award Plan, Additional Information (Details)
Stock Option And Award Plan: Non-Vested Restricted Stock (Details)
Stockholders' Equity:
Stockholders' Equity: Authorized Shares (Details)
Stockholders' Equity: Common Stock Buybacks (Details)
Subsequent Events:
Subsequent Events: (Details)
Ticker: CCOI
CIK: 1158324
Form Type: 10-K Annual Report
Accession Number: 0001047469-19-000604
Submitted to the SEC: Fri Feb 22 2019 3:53:16 AM EST
Accepted by the SEC: Fri Feb 22 2019
Period: Monday, December 31, 2018
Industry: Communications Services

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