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Cogent Communications Holdings, Inc. (CCOI) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 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 Fourth Quarter and Full Year 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 $0.755 per share for Q1 2021 as compared to $0.730 per share for Q4 2020 – Cogent’s thirty-fourth consecutive quarterly dividend increase.

 

oThe Q1 2021 $0.755 dividend per share represents an annual increase of 14.4% from the dividend per share of $0.660 for Q1 2020.

 

·Dividends for 2020 totaled $129.4 million, or $2.780 per share, with 63.1% treated as a return of capital and 36.9% treated as dividends for US federal income tax purposes.

 

·Service revenue increased by 1.1% from Q3 2020 to Q4 2020, increased from Q4 2019 to Q4 2020 by 2.6% and increased from full year 2019 to full year 2020 by 4.0%.

 

·GAAP gross profit increased by 3.6% from Q4 2019 to $66.6 million for Q4 2020 and increased from full year 2019 to full year 2020 by 2.3% to $251.9 million. Non-GAAP gross profit increased by 5.6% from Q4 2019 to $89.4 million for Q4 2020 and increased from full year 2019 to full year 2020 by 7.0% to $350.2 million.

 

oGAAP gross margin increased by 50 basis points from Q4 2019 to Q4 2020 to 46.3% and increased from full year 2019 to full year 2020 by 160 basis points to 46.7%. Non-GAAP gross margin increased by 180 basis points from Q4 2019 to Q4 2020 to 62.1% and increased from full year 2019 to full year 2020 by 170 basis points to 61.6%.

 

·Net cash provided by operating activities was $37.6 million for Q4 2020, $33.0 million for Q3 2020 and $46.1 million for Q4 2019. Net cash provided by operating activities was $148.8 million for full year 2019 and $140.3 million for full year 2020.

 

·Sales rep productivity – units per full time equivalent sales rep per month - increased from 3.7 for Q3 2020 to 4.2 for Q4 2020.

 

·EBITDA margin increased by 30 basis points from Q3 2020 to 38.7% for Q4 2020, increased by 110 basis points from Q4 2019 to Q4 2020 and increased from full year 2019 to full year 2020 by 150 basis points to 37.7%.

 

·EBITDA increased by 2.0% from Q3 2020 to $55.7 million for Q4 2020, increased by 5.6% from Q4 2019 to Q4 2020 and increased from full year 2019 to full year 2020 by 8.1% to $214.0 million.

 


The following information was filed by Cogent Communications Holdings, Inc. (CCOI) on Thursday, February 25, 2021 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 Credit Losses (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: 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 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: Debt Extinguishment And Redemption 2021 Notes (Details)
Long-Term Debt: Limitations Under The Indentures (Details)
Long-Term Debt: Long-Term Debt Maturities (Details)
Long-Term Debt: Senior Unsecured 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: 0001104659-21-028924
Submitted to the SEC: Fri Feb 26 2021 12:39:02 PM EST
Accepted by the SEC: Fri Feb 26 2021
Period: Thursday, December 31, 2020
Industry: Communications Services

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