11:51 AM EST - Cogeco Inc. : announced a second quarter consolidated net loss of $115.3 million, compared to net profit of $15.9 million in the same period of the prior year. Excluding the impairment loss, consolidated net income would have been $8.7 million, compared to $8.4 million in the prior year. Consolidated revenue for the quarter increased by 14.7 per cent to $311.8 million from $271.894 million in the previous year. For the first six months, the company posted a consolidated net loss of $104.2 million compared to net profit of $5.9 million in the prior year. Excluding the impairment loss consolidated net income would have been $19.7 million, compared to $16.1 million in the prior year. Consolidated revenue increased by 16.5 per cent to $620.2 million from $532.149 million a year ago. Cogeco Inc.
shares T.CGO are trading down $0.49 at $24.50.
