Typing Faster

January 13, 2010

And I Thought Cable Companies Were Supposed To Be Hurting

Filed under: Kvetch, the biz — petertypingfaster @ 2:29 pm

What a crock of sh*t that is.

Two articles I’d like to draw your attention to today.

COGECO announced its…

…fiscal 2010 first-quarter earnings rose, helped by growth in its cable business.

Net income in the quarter ended Nov. 30 rose to C$22.7 million, or C$1.35 a share, up from C$10.9 million, or 65 Canadian cents a share, a year earlier.

Excluding a favorable income tax adjustment in the most recent quarter, earnings were C$13.1 million, or 78 cents a share.

Cogeco, which earns most of its revenue from its cable business, said its quarterly revenue rose 6.4 percent to C$328 million.

From COGECO we move over to Corus, who announced that their…

…first quarter revenues rose 2.5% to $222.3 million from $216.8 million a year ago. Net income in the quarter rose 82% to $73.9 million or 91 cents per diluted share compared to net income of $40.6 million or 50 cents per share a year ago.

Corus Entertainment Inc (CJR) in the last one year traded as high as $20.97 in January 2010 and as low as $9.37 in January 2009. Based on the yesterday’s closing price of $18.94 the company has market cap of $1.52 billion.

Oh yeah. I really feel their pain.

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