MONTREAL - Cogeco Inc. (TSX:CGO) says it recorded a profit of $43.8 million in the fourth quarter, or 82 cents per diluted share.
That was down from $44.9 million, or 83 cents per diluted share, in the same period a year ago.
The Montreal-based company says the decrease is mostly attributable to additional depreciation and amortization and costs related to recent acquisitions.
Cogeco‘s fourth quarter revenue grew 41.5 per cent to reach $504.7 million and closed the fiscal year at $1.8 billion.
The company also said fourth quarter revenue for its main operating subsidiary, Cogeco Cable (TSX:CCA) increased 44.8 per cent to $470.4 million.
The company‘s cable customers decreased by 15,237 in the quarter but increased by 5,546 for all of fiscal 2013.
Cogeco, through its Cogeco Cable subsidiary, is Canada's fourth largest cable company serving parts of Ontario and Quebec. It also owns U.S.-based cable company Atlantic Broadband and 13 radio stations in Quebec.
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