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Cogent Communications Holdings, Inc. (CCOI) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 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 Third 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 $0.730 per share for Q4 2020 as compared to $0.705 per share for Q3 2020 – Cogent’s thirty-third consecutive quarterly dividend increase

 

oThe Q4 2020 $0.730 dividend per share represents an annual increase of 14.1% from the dividend per share of $0.640 for Q4 2019.

 

·Service revenue increased by 0.9% from Q2 2020 to Q3 2020 and increased from Q3 2019 to Q3 2020 by 3.9%.

 

·GAAP gross profit increased by 7.3% from Q3 2019 to $66.2 million for Q3 2020. Non-GAAP gross profit increased by 7.5% from Q3 2019 to $88.1 million for Q3 2020.

 

oGAAP gross margin increased by 150 basis points from Q3 2019 to Q3 2020 to 46.5%. Non-GAAP gross margin increased by 200 basis points from Q3 2019 to Q3 2020 to 61.9%.

 

·Net cash provided by operating activities was $33.0 million for Q3 2020, $41.3 million for Q2 2020 and $33.4 million for Q3 2019.

 

·EBITDA margin increased by 60 basis points from Q2 2020 to 38.4% for Q3 2020 and increased by 150 basis points from Q3 2019.

 

·EBITDA increased by 2.3% from Q2 2020 to $54.6 million for Q3 2020 and increased by 8.1% from Q3 2019.

 

[WASHINGTON, D.C. November 5, 2020]

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (“Cogent”) today announced service revenue of $142.3 million for the three months ended September 30, 2020, an increase of 0.9% from the three months ended June 30, 2020 and an increase of 3.9% from the three months ended September 30, 2019. Foreign exchange positively impacted service revenue growth from the three months ended June 30, 2020 to the three months ended September 30, 2020 by $1.6 million and positively impacted service revenue growth from the three months ended September 30, 2019 to the three months ended September 30, 2020 by $1.1 million. On a constant currency basis, service revenue declined by 0.2% from the three months ended June 30, 2020 to the three months ended September 30, 2020 and grew by 3.1% from the three months ended September 30, 2019 to the three months ended September 30, 2020.

 


The following information was filed by Cogent Communications Holdings, Inc. (CCOI) on Thursday, November 5, 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: Stockholders' 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: 2024 Notes Issuances (Details)
Long-Term Debt: Debt Extinguishment And Redemption 2021 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)

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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: 0001104659-20-121637
Submitted to the SEC: Thu Nov 05 2020 10:40:41 AM EST
Accepted by the SEC: Thu Nov 05 2020
Period: Wednesday, September 30, 2020
Industry: Communications Services

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