Cogeco Inc. said its normalized net income for the fiscal first quarter ended Nov. 30, 2015, amounted to 98 Canadian cents per share, a gain of 41.4% from 69 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$16.5 million, a gain of 41.4% from C$11.7 million in the prior-year period.
The normalized profit margin increased to 2.8% from 2.2% in the year-earlier period.
Total revenue increased 8.3% year over year to C$582.9 million from C$538.4 million, and total operating expenses rose 8.2% year over year to C$455.0 million from C$420.6 million.
Reported net income decreased 5.7% from the prior-year period to C$25.3 million, or C$1.50 per share, from C$26.8 million, or C$1.59 per share.
