- Revenue increased by $43.3 million, or 8.7%, to reach $540.3 million;

- Adjusted EBITDA(1) increased by $25.3 million, or 11.6%, to reach $244.1 million compared to $218.9 million for the first quarter of fiscal 2015; and

- A quarterly dividend of $0.39 per share was declared, an increase of 11.4% compared to the same period in fiscal 2015.

/EINPresswire.com/ -- MONTREAL, QUEBEC -- (Marketwired) -- 01/12/16 -- Today, Cogeco Cable Inc. (TSX: CCA) ("Cogeco Cable" or the "Corporation") announced its financial results for the first quarter ended November 30, 2015, in accordance with International Financial Reporting Standards ("IFRS").

For the first quarter of fiscal 2016:

--  Revenue increased by $43.3 million, or 8.7%, to reach $540.3 million
    driven by growth of 40.4% in the American cable services segment and
    2.8% in the Enterprise data services segment with essentially stable
    revenue in the Canadian cable services segment.

    --  American cable services revenue increased primarily as a result of
        organic growth, the favorable foreign exchange rates compared to the
        same period of last year and the recent acquisition in the fourth
        quarter of fiscal 2015 of MetroCast Communications of Connecticut,
        LLC (the "Connecticut system");

    --  Enterprise data services revenue increased due to favorable foreign
        exchange rates;

    --  Canadian cable services revenue was essentially stable as a result
        of lower primary service units ("PSU")(2) compared to the same
        period of the prior year, partly offset by rate increases and the
        continued growth in the business sector;

--  Adjusted EBITDA increased by $25.3 million, or 11.6%, to reach $244.1
    million compared to $218.9 million in the same period of fiscal 2015
    mainly as a result of the following:

    --  Lower management fees paid to COGECO Inc. ("COGECO") during the
        first quarter of the year as a result of the Amended and Restated
        Management Services Agreement which became effective on September 1,
        2015. The management fees are now payable on a monthly basis. In the
        previous fiscal year, management fees were fully paid in the first
        quarter resulting in higher operating margins in the second, third
        and fourth quarters;

    --  Higher adjusted EBITDA in the American cable services resulting from
        organic growth, favorable foreign exchange rates compared to the
        same period of the prior year and the recent acquisition of the
        Connecticut system;

    --  Enterprise data services higher adjusted EBITDA attributable to the
        favorable foreign exchange rates compared to the comparable period
        of the prior year;

    --  Higher adjusted EBITDA in the Canadian cable services resulting from
        lower marketing initiatives compared to the first quarter of fiscal
        2015 during which TiVo digital advanced video services were launched
        in Ontario combined with continuous operational efficiency
        improvements;

--  Operating margin(1) increased from 44.0% to 45.2% in the first quarter
    of fiscal 2016, with operating margins of 51.8% in the Canadian cable
    services, 43.7% in the American cable services and 33.6% in the
    Enterprise data services segments. The increase for the quarter resulted
    mainly from lower management fees paid to COGECO during the first
    quarter of the year as a result of the Amended and Restated Management
    Services Agreement which became effective on September 1, 2015 combined
    with a higher margin in the Canadian cable services segment and a stable
    margin in the American cable services segment, partly offset by a
    slightly lower margin in the Enterprise data services segment;

--  Profit for the period amounted to $61.1 million, or $1.25 per share,
    compared to $56.7 million, or $1.16 per share in the comparable period
    of fiscal 2015, an increase of 7.8%, resulting from the improvement of
    the adjusted EBITDA, partly offset by the increases in depreciation and
    amortization and income taxes;

--  Free cash flow(1) reached $40.0 million compared to $64.9 million, a
    decrease of $24.9 million, or 38.3%, compared to the same period of the
    prior year resulting from a timing difference in the acquisitions of
    property, plant and equipment, intangible and other assets and an
    increase in current income taxes, partly offset by the improvement of
    adjusted EBITDA;

--  Cash flow from operating activities reached $96.1 million compared to
    $22.1 million an increase of $74.0 million, compared to fiscal 2015
    first-quarter. The increase for the quarter is mostly attributable to
    the improvement in adjusted EBITDA combined with a decrease in changes
    in non-cash activities primarily due to changes in working capital,
    partly offset by the increase in income taxes paid;

--  A quarterly eligible dividend of $0.39 per share was paid to the holders
    of subordinate and multiple voting shares, representing an increase of
    $0.04 per share, or 11.4%, compared to an eligible dividend of $0.35 per
    share paid in the first quarter of fiscal 2015;

--  At its January 12, 2016 meeting, the Board of Directors of Cogeco Cable
    declared a quarterly eligible dividend of $0.39 per share for multiple
    voting and subordinate voting shares payable on February 9, 2016; and

--  On December 8, 2015, the Corporation amended its Term Revolving
    Facility. Under the term of the amendment, the maturity was extended by
    an additional year and consequently, will mature on January 22, 2021.



(1)  The indicated terms do not have standardized definitions prescribed by
     IFRS and, therefore, may not be comparable to similar measures
     presented by other companies. For more details, please consult the
     "Non-IFRS financial measures" section of the MD&A.
(2)  Represents the sum of video, Internet and telephony service customers.

"Overall, our results for the first quarter of the new fiscal year have been satisfactory," declared Louis Audet, President and Chief Executive Officer of Cogeco Cable Inc. "Our American cable services subsidiary, Atlantic Broadband, has successfully completed the integration of its acquisition in Connecticut and it continues to report strong results helping us consolidate our presence in the American market. Meanwhile, our Canadian cable services subsidiary continues to report satisfactory results."

"At Cogeco Peer 1, significant portions of the integration of our business units are complete," continued Mr. Audet. "Our teams continue to work diligently to build robust and competitive product portfolios as well as sales and go-to-market strategies. I am confident that the efforts we are putting into this investment now, under the guidance of the strong leadership team currently in place, will help us achieve the growth we expect from this sector."

"I would also like to share how proud I am that once again in 2015, Cogeco Cable Inc. maintained its strong position in the Globe and Mail's annual 'Board Games' which ranked Cogeco Cable among the top quarter of all Canadian companies.

(1)  The indicated terms do not have standardized definitions prescribed by
     IFRS and, therefore, may not be comparable to similar measures
     presented by other companies. For more details, please consult the
     "Non-IFRS financial measures" section of the MD&A.

ABOUT COGECO CABLE

Cogeco Cable Inc. is a communications corporation. It is the 11th largest cable operator in North America, operating in Canada under the Cogeco Cable Canada name in Quebec and Ontario, and in the United States under the Atlantic Broadband name in western Pennsylvania, south Florida, Maryland/Delaware, South Carolina and eastern Connecticut. Cogeco Cable Inc. provides its residential and business customers with video, Internet and telephony services through its two-way broadband fibre networks. Through its subsidiary Cogeco Peer 1, Cogeco Cable Inc. provides its business customers with a suite of information technology services (colocation, network connectivity, managed hosting, cloud services and managed IT services), through its 21 data centres, extensive FastFiber Network™ and more than 50 points-of-presence in North America and Europe. Cogeco Cable Inc.'s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).

Analyst Conference  Wednesday, January 13, 2016 at 9:30 a.m. (Eastern
Call:               Standard Time)
                    Media representatives may attend as listeners only.

                    Please use the following dial-in number to have access
                    to the conference call by dialing five minutes before
                    the start of the conference:

                    Canada/United States Access Number: 1 800-505-9573
                    International Access Number: + 1 416-204-9498
                    Confirmation Code: 6162342
                    By Internet at corpo.cogeco.com/cca/en/investors/

                    A rebroadcast of the conference call will be available
                    until January 19, 2016, by dialing:

                    Canada and United States access number: 1 888-203-1112
                    International access number: + 1 647-436-0148
                    Confirmation code: 6162342



SHAREHOLDERS' REPORT
Three-month period ended November 30, 2015

FINANCIAL HIGHLIGHTS

----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                Quarters ended November 30,
                                                2015        2014     Change
(in thousands of dollars, except
 percentages and per share data)                   $           $          %
----------------------------------------------------------------------------
Operations
Revenue                                      540,313     497,001        8.7
Adjusted EBITDA(1)                           244,142     218,860       11.6
Operating margin(1)                             45.2%       44.0%         -
Integration, restructuring and
 acquisition costs                             2,030           -          -
Profit for the period                         61,106      56,709        7.8
----------------------------------------------------------------------------
Cash flow
Cash flow from operating activities           96,093      22,122          -
Cash flow from operations(1)                 186,361     167,822       11.0
Acquisitions of property, plant and
 equipment, intangible and other assets      146,319     102,883       42.2
Free cash flow(1)                             40,042      64,939      (38.3)
----------------------------------------------------------------------------
Financial condition(2)
Property, plant and equipment              2,025,564   1,985,421        2.0
Total assets                               5,893,532   6,014,038       (2.0)
Indebtedness(3)                            3,239,770   3,261,908       (0.7)
Shareholders' equity                       1,804,099   1,758,972        2.6
----------------------------------------------------------------------------
Capital intensity(1)                            27.1%       20.7%         -
----------------------------------------------------------------------------
Per Share Data(4)
Earnings per share
  Basic                                         1.25        1.16        7.8
  Diluted                                       1.24        1.15        7.8

----------------------------------------------------------------------------
----------------------------------------------------------------------------
(1)  The indicated terms do not have standardized definitions prescribed by
     the International Financial Reporting Standards ("IFRS") and,
     therefore, may not be comparable to similar measures presented by other
     companies. For more details, please consult the "Non-IFRS financial
     measures" section of the MD&A.
(2)  At November 30, 2015 and August 31, 2015.
(3)  Indebtedness is defined as the aggregate of bank indebtedness,
     principal on long-term debt and obligations under derivative financial
     instruments.
(4)  Per multiple and subordinate voting share.
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Contacts:
Source:
Cogeco Cable Inc.
Patrice Ouimet
Senior Vice President and Chief Financial Officer
514-764-4700

Information:
Media
Rene Guimond
Senior Vice-President, Public Affairs and Communications
514-764-4700

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