Cogeco revenues rise 5.9% in Q1, but profit falls on weaker cable segment

MONTREAL - Cogeco reports that revenue increased by 5.9% to $366.6 million in its first quarter of fiscal 2013, ended November 30, 2012. Operating income, before depreciation and amortization, increased by 11.6% to $156.6 million, compared to the first quarter of fiscal 2012. But profit fell to $47.1 million compared to $47.9 million for the same period of the previous fiscal year. Cogeco attributes the decrease to the cable segment and due to an increase in income taxes, the acquisition costs related to the acquisition of Atlantic Broadband (ABB) and last year's profit from the disposition of the Portuguese subsidiary,...