Portuguese division losses weigh heavily on Cogeco's Q3 results

MONTREAL – While growth in the television and radio divisions powered Cogeco’s Canadian operations, its Portuguese subsidiary Cabovisão pulled down the company’s third quarter financial results.For the quarter ended May 31, 3009, consolidated revenue increased by 11.4% to $316.3 million, and consolidated operating income from continuing operations before amortization grew by 10.4% to reach $129.4 million.But after taking in to account various losses at Cabovisão, the company reported a consolidated net loss of $93.8 million for the first nine months of fiscal 2009, compared to net income of $15.5 million in the prior year.“We have recently realigned our short term...