Steady revenue growth by Cogent Communications (NASDAQ:CCOI, news, filings) took them back into positive earnings territory once again in the first quarter of 2013. As with tw telecom some higher expenses pulled down both EBITDA and earnings per share slightly below expectations, however it appears to be mostly just lumpiness in this case.
|$ in millions||Q1/12||Q2/12||Q3/12||Q4/12||Q1/13
|Earnings per share||-0.05||-0.04||0.00||-0.01||0.01|
|Adj. EBITDA Margin||29.3%||32.6%||32.9%||34.6%||33.5%|
Cogent also set its Q2 dividend up to $0.13 per share, that’s up another penny from the first quarter which was itself up a penny from Q4 of last year and another penny from Q3 – I’m sensing a trend.
Operationally, Cogent saw traffic increase from Q1 of last year by some 91% perhaps double the rate of backbone traffic growth as a whole generally checks in at. They added 23 buildings to their network, which was a bit slower than in recent quarters but still within the usual range. Capex, however, rose to $16.3M for the quarter.
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