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Cogent Communications Holdings, Inc. (CCOI) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

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-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 Cogent Communications Holdings, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

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 Comprehensive Income
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical)
Commitments And Contingencies:
Commitments And Contingencies: Current And Potential Litigation (Details)
Common Stock Buyback Program And Stock Option And Award Plan (Details)
Common Stock Buyback Program And Stock Option And Award Plan:
Description Of The Business:
Description Of The Business: (Details)
Description Of The Business: (Policies)
Description Of The Business: (Tables)
Description Of The Business: Allowance For Credit Losses (Details)
Description Of The Business: Allowance For Doubtful Accounts (Details)
Description Of The Business: Basic And Diluted Net Income Per Common Share (Details)
Description Of The Business: Financial Instruments (Details)
Description Of The Business: Gross Receipts Taxes, Universal Service Fund And Other Surcharges (Details)
Description Of The Business: Leases (Details)
Description Of The Business: Recent Accounting Pronouncements - To Be Adopted (Details)
Description Of The Business: Revenue Recognition (Details)
Description Of The Business: Stockholders' Deficit (Details)
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 Redemptions Of 2022 Notes (Details)
Long-Term Debt: Limitations Under The Indentures (Details)
Property And Equipment:
Property And Equipment: (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: 0001104659-21-056653
Submitted to the SEC: Wed Apr 28 2021 5:22:26 PM EST
Accepted by the SEC: Wed Apr 28 2021
Period: Wednesday, March 31, 2021
Industry: Communications Services

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