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Cogent Communications Holdings, Inc. (CCOI) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Cogent Communications Holdings, Inc.

CIK: 1158324 Ticker: CCOI

 

Exhibit 99.1

 

FOR IMMEDIATE RELEASE

 

Cogent Contacts:  
For Public Relations: For Investor Relations:
Jocelyn Johnson Sean Wallace
+ 1 (202) 295-4299 + 1 (202) 295-4202
jajohnson@cogentco.com investor.relations@cogentco.com

 

Cogent Communications Reports Second Quarter 2020 Results and Increases its Regular Quarterly Dividend on its Common Stock by $0.025

 

Financial and Business Highlights

 

·Cogent approved an increase of $0.025 per share to its regular quarterly dividend for a total of $0.705 per share for Q3 2020 as compared to $0.68 per share for Q2 2020 – Cogent’s thirty-second consecutive quarterly dividend increase and a greater increase than the $0.02 per share increase in Q2 2020.
oThe Q3 2020 $0.705 dividend per share represents an annual increase of 13.7% from the dividend per share of $0.62 for Q3 2019.
·Service revenue, on a constant currency basis, increased by 0.2% from Q1 2020 to Q2 2020 and increased from Q2 2019 to Q2 2020 by 5.1%.
oService revenue increased by 0.1% from Q1 2020 to Q2 2020 and increased from Q2 2019 to Q2 2020 by 4.6%.
·GAAP gross profit increased by 11.3% from Q2 2019 to $67.2 million for Q2 2020. Non-GAAP gross profit increased by 8.4% from Q2 2019 to $87.4 million for Q2 2020.
oGAAP gross margin increased by 290 basis points from Q2 2019 to Q2 2020 to 47.7%. Non-GAAP gross margin increased by 220 basis points from Q2 2019 to Q2 2020 to 62.0%.
·Net cash provided by operating activities increased by 45.2% from Q1 2020 to $41.3 million for Q2 2020 and increased by 1.7% from Q2 2019.
·EBITDA increased by 5.9% from Q1 2020 to $53.3 million for Q2 2020 and increased by 13.3% from Q2 2019.
oEBITDA margin increased by 200 basis points from Q1 2020 to 37.8% for Q2 2020 and increased by 290 basis points from Q2 2019.
·Cogent issued €215 million of Senior Euro Notes due in 2024 in June for net proceeds of $240.3 million.  The net proceeds were used to redeem and extinguish its $189.2 million of Senior Notes due in 2021 at par and to provide cash for general corporate purposes including to dividend cash from its operating companies to Cogent Holdings, Inc.

 

[WASHINGTON, D.C. August 6, 2020]

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (“Cogent”) today announced service revenue of $141.0 million for the three months ended June 30, 2020, an increase of 0.1% from the three months ended March 31, 2020 and an increase of 4.6% from the three months ended June 30, 2019. Foreign exchange negatively impacted service revenue growth from the three months ended March 31, 2020 to the three months ended June 30, 2020 by $0.2 million and negatively impacted service revenue growth from the three months ended June 30, 2019 to the three months ended June 30, 2020 by $0.7 million. On a constant currency basis, service revenue grew by 0.2% from the three months ended March 31, 2020 to the three months ended June 30, 2020 and grew by 5.1% from the three months ended June 30, 2019 to the three months ended June 30, 2020. Excise taxes, including Universal Service Fund fees, recorded on a gross basis and included in service revenue and cost of network operations expense were $3.3 million for the three months ended June 30, 2020, $3.2 million for the three months ended June 30, 2019 and $3.7 million for the three months ended March 31, 2020.

 


The following information was filed by Cogent Communications Holdings, Inc. (CCOI) on Thursday, August 6, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical)
Commitments And Contingencies:
Commitments And Contingencies: Current And Potential Litigation (Details)
Common Stock Buyback Program Stock Option And Award Plan:
Common Stock Buyback Program Stock Option And Award Plan: (Details)
Description Of The Business And Recent Developments:
Description Of The Business And Recent Developments: (Details)
Description Of The Business And Recent Developments: (Policies)
Description Of The Business And Recent Developments: Allowance For Credit Losses (Details)
Description Of The Business And Recent Developments: Basic And Diluted Net Income Per Common Share (Details)
Description Of The Business And Recent Developments: Financial Instruments (Details)
Description Of The Business And Recent Developments: Gross Receipts Taxes, Universal Service Fund And Other Surcharges (Details)
Description Of The Business And Recent Developments: Leases (Details)
Description Of The Business And Recent Developments: Revenue Recognition (Details)
Description Of The Business And Recent Developments: Stockholder's Deficit (Details)
Description Of The Business: (Tables)
Dividends On Common Stock:
Dividends On Common Stock: (Details)
Income Taxes:
Income Taxes: (Tables)
Income Taxes: Components Of Income Before Income Taxes (Details)
Long-Term Debt:
Long-Term Debt: Debt Extinguishment And Redemption 2021 Notes (Details)
Long-Term Debt: Issuance Of 2024 Notes (Details)
Long-Term Debt: Limitations Under The Indentures (Details)
Property And Equipment:
Property And Equipment: (Details)
Property And Equipment: Exchange Agreement (Details)
Property And Equipment: Installment Payment Agreement (Details)
Related Party Transactions:
Related Party Transactions: (Details)
Segment Information:
Segment Information: (Details)
Segment Information: (Tables)

Material Contracts, Statements, Certifications & more

Cogent Communications Holdings, Inc. provided additional information to their SEC Filing as exhibits

Ticker: CCOI
CIK: 1158324
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-20-091306
Submitted to the SEC: Thu Aug 06 2020 12:51:22 PM EST
Accepted by the SEC: Thu Aug 06 2020
Period: Tuesday, June 30, 2020
Industry: Communications Services

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