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Cogent Communications Holdings, Inc. (CCOI) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

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 2019 Results and
Increases Regular Quarterly Dividend on Common Stock

 

Financial and Business Highlights

 

·Cogent approved a $0.02 increase per share to its regular quarterly dividend to $0.66 per share for Q1 2020 from $0.64 per share for Q4 2019 – Cogent’s thirtieth consecutive quarterly dividend increase.
oThe Q1 2020 $0.66 dividend per share represents an annual increase of 13.8% from the dividend per share of $0.58 for Q1 2019.
·Dividends for 2019 totaled $112.6 million, or $2.44 per share, with 54.0% treated as a return of capital and 46.0% treated as dividends for US federal income tax purposes.
·Service revenue, on a constant currency basis, increased by 2.5% from Q3 2019 to Q4 2019, increased from Q4 2018 to Q4 2019 by 6.8% and increased from full year 2018 to full year 2019 by 6.0% to $546.2 million.
oService revenue increased by 2.4% from Q3 2019 to Q4 2019, increased from Q4 2018 to Q4 2019 by 6.2% and increased from full year 2018 to full year 2019 by 5.0%.
·Non-GAAP gross profit increased by 10.4% from Q4 2018 to $84.6 million for Q4 2019 and increased from full year 2018 to full year 2019 by 8.6% to $327.4 million. GAAP gross profit increased by 16.0% from Q4 2018 to $64.3 million for Q4 2019 and increased from full year 2018 to full year 2019 by 12.2% to $246.1 million.
oNon-GAAP gross margin increased by 230 basis points from Q4 2018 to Q4 2019 to 60.3% and increased from full year 2018 to full year 2019 by 190 basis points to 59.9%. GAAP gross margin increased by 380 basis points from Q4 2018 to Q4 2019 to 45.8% and increased from full year 2018 to full year 2019 by 290 basis points to 45.1%.
·EBITDA increased by 4.4% from Q3 2019 to $52.7 million for Q4 2019, increased by 10.8% from Q4 2018 to Q4 2019 and increased from full year 2018 to full year 2019 by 7.3% to $197.9 million.
oEBITDA margin increased by 70 basis points from Q3 2019 to 37.6% for Q4 2019, increased by 160 basis points from Q4 2018 to Q4 2019 and increased from full year 2018 to full year 2019 by 70 basis points to 36.2%.
·Net cash provided by operating activities increased by 37.8% from Q3 2019 to $46.1 million for Q4 2019, increased by 13.2% from Q4 2018 to Q4 2019 and increased from full year 2018 to full year 2019 by 11.1% to $148.8 million.

 


The following information was filed by Cogent Communications Holdings, Inc. (CCOI) on Thursday, February 27, 2020 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 - Future Minimum Payments (Details)
Commitments And Contingencies: Current And Potential Litigation (Details)
Commitments And Contingencies: Defined Contribution Plan (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: (Details)
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: 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: Leases (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: Revenue Recognition (Details)
Geographic Information:
Geographic Information: (Details)
Geographic Information: (Tables)
Income Taxes (Details)
Income Taxes:
Income Taxes: (Tables)
Income Taxes: Components Of Income 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: Temporary Differences (Details)
Long-Term Debt:
Long-Term Debt: (Details)
Long-Term Debt: (Tables)
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: 0001104659-20-026777
Submitted to the SEC: Fri Feb 28 2020 10:35:21 AM EST
Accepted by the SEC: Fri Feb 28 2020
Period: Tuesday, December 31, 2019
Industry: Communications Services

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