Cogent Communications Q1 Profit Down, Misses View - Quick Facts

(RTTNews) - Cogent Communications Group, Inc. (CCOI), a provider of Internet access and Internet Protocol, communications services, reported Thursday that its first-quarter net income declined to $125 million from last year's $361 million. Earnings per share $0.00, compared to $0.01 a year ago.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted EBITDA of $32.1 million increased 13.5 percent from $28.3 million a year earlier.

Service revenue grew 10 percent to $92.94 million from $84.55 million in the prior year. Analysts estimated revenues of $92.58 million for the quarter. On a constant currency basis, service revenue grew 9.6 percent.

Traffic increased 69 percent from the prior year. Total customer connections of 41,947 increased 16.6 percent from 35,968 as of March 31, 2013.