Cogent Communications (NASDAQ:CCOI, news, filings) continued its rebound from the loss of MegaUpload's business in January with a steady third quarter that took revenues back to an all time high. Their total of $79.7M was a bit above my own guess but slightly below the consensus analyst estimate, although it would have matched that threshold in constant currency terms. Here's a quick table:
|$ in millions||Q3/11||Q4/11||Q1/12||Q2/12||Q3/12|
|Earnings per share||0.01||0.12||-0.05||-0.04||0.00|
|Adj. EBITDA Margin||34.5%||35.2%||29.3%||32.6%||32.9%|
EBITDA was a bit lower than I had guessed, mostly due to apparent noise in the company's gross margins. EBITDA margins expanded slightly, but remain in a lower range than they finished last year at.
Along with 33 building additions, Cogent saw a 17% increase in traffic over the previous quarter and expanded its headcount to 621. On the dividend front, Cogent approved a payout of $0.11 per share, 10% higher than previously disclosed and payable on December 12.
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