Stability at European unit bodes well for Cogeco's Q3

MONTREAL – Continued growth in Cogeco’s Canadian division helped to hold third quarter profits steady at the Montreal-based company.For the quarter ended May 31, 2010, revenue at Cogeco Inc. increased by 4.6% ($14.6 million) year-over-year to reach $330.9 million. Net income of $10.7 million was virtually unchanged compared to the same period of the previous fiscal year, however, net income in the third quarter of 2009 included an unfavourable income tax adjustment of $2 million related to the certain items at the company’s Portuguese subsidiary Cabovisao.Operating income before amortization grew slightly by $1.3 million, or 1%, to reach $127.9 million...