Cogent (AMEX:COI)
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From May 2019 to May 2024
WASHINGTON, Nov. 11 /PRNewswire-FirstCall/ -- Cogent Communications Group, Inc. (AMEX:COI) today announced net service revenue of $33.8 million for the three months ended September 30, 2005, an increase of 55.4% over $21.7 million for the three months ended September 30, 2004. On-net revenue was $20.2 million for the three months ended September 30, 2005, an increase of 41.3% over $14.3 million for the three months ended September 30, 2004. On-net service is provided to customers located in buildings that are physically connected to Cogent's network by Cogent-owned facilities.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020204/DCM032LOGO )
Service revenue increased 61.7% from $63.1 million for the nine months ended September 30, 2004 to $102.0 million for the nine months ended September 30, 2005. On-net revenue increased 38.5% from $41.4 million for the nine months ended September 30, 2004 to $57.3 million for the nine months ended September 30, 2005.
Net cash provided by operating activities was $1.8 million for the three months ended September 30, 2005 as compared to net cash used in operating activities of ($3.9) million for the three months ended September 30, 2004. Net cash used in operating activities was ($6.3) million for the nine months ended September 30, 2005 as compared to net cash used in operating activities of ($21.9) million for the nine months ended September 30, 2004.
Earnings before interest, taxes, depreciation and amortization (EBITDA), as adjusted, was $2.1 million for the three months ended September 30, 2005 compared to ($2.4) million for the three months ended September 30, 2004. EBITDA, as adjusted, was $9.1 million for the nine months ended September 30, 2005 compared to ($9.2) million for the three months ended September 30, 2004.
Basic and diluted net loss applicable to common stock was ($0.37) per share for the three months ended September 30, 2005 compared to ($32.87) per share for the three months ended September 30, 2004. Basic and diluted net loss applicable to common stock was ($1.49) per share for the nine months ended September 30, 2005 compared to ($127.56) per share for the nine months ended September 30, 2004. Weighted average common shares outstanding - basic and diluted - were 43,886,390 for the three months ended September 30, 2005 as compared to 806,151 for the three months ended September 30, 2004. Weighted average common shares outstanding - basic and diluted - were 31,646,576 for the nine months ended September 30, 2005 as compared to 744,138 for the nine months ended September 30, 2004.
Total customer connections were 9,609 as of September 30, 2005 compared to 5,228 as of September 30, 2004 an increase of 83.8%. On-net customer connections were 4,064 as of September 30, 2005 compared to 2,496 as of September 30, 2004 an increase of 62.8%. The number of on-net buildings was 1,026 as of September 30, 2005 as compared to 961 as of September 30, 2004.
Outlook -- Full Year 2005 Estimates
* Cogent is reaffirming its previously released full year 2005 estimate
for net service revenue of between $135.0 million and $140.0 million.
* Cogent is reaffirming its previously released full year 2005 estimate
for EBITDA, as adjusted, of between $10.0 million and $12.0 million.
Outlook -- Fourth Quarter 2005 Estimates
* Cogent estimates net service revenue for the fourth quarter of 2005 to
be between $34.0 million and $35.0 million.
* Cogent estimates EBITDA, as adjusted, for the fourth quarter of 2005
to be between $1.5 million to $2.5 million.
COGENT COMMUNICATIONS GROUP, INC., AND SUBSIDIARIES
Summary of Financial and Operational Results
Metric ($ in 000's, Q1 2004 Q2 2004 Q3 2004 Q4 2004
except per share data)
- unaudited
On-Net Revenue $13,479 $13,632 $14,285 $16,538
% Change from 1.1% 4.8% 15.8%
previous Qtr.
Off-Net Revenue $4,892 $4,332 $5,107 $8,228
% Change from -11.4% 17.9% 61.1%
previous Qtr.
Non-Core $2,574 $2,423 $2,344 $3,452
revenue (1)
% Change from -5.9% -3.3% 47.3%
previous Qtr.
Net service $20,945 $20,387 $21,736 $28,218
revenue - total
% Change from -2.7% 6.6% 29.8%
previous Qtr.
Network operations $15,735 $13,273 $14,303 $20,155
expenses (2)
% Change from -15.6% 7.8% 40.9%
previous Qtr.
Selling, general and $9,581 $9,538 $9,089 $12,174
administrative
expenses (3)
% Change from -0.4% -4.7% 33.9%
previous Qtr.
Depreciation and $14,536 $13,749 $13,369 $14,991
amortization
expenses
% Change from previous -5.4% -2.8% 12.1%
Qtr.
Basic and diluted $(68.70) $(29.51) $(32.87) $(24.66)
net loss per common
share applicable to
common stock
% Change from 57.0% -11.4% 25.0%
previous Qtr.
Weighted average 672,457 753,130 806,151 820,125
common shares - basic
and diluted
% Change from 12.0% 7.0% 1.7%
previous Qtr.
EBITDA, as $(4,371) $(2,424) $(2,435) $(4,111)
adjusted (4)
% Change from 44.5% -0.5% -68.8%
previous Qtr.
Cash (used in) $(11,582) $(6,344) $(3,863) $(4,636)
provided by operating
activities
% Change from 45.2% 39.1% -20.0%
previous Qtr.
Capital expenditures $1,833 $2,205 $2,297 $3,800
% Change from 20.3% 4.2% 65.4%
previous Qtr.
Customer Connections -
end of period
On-Net 2,092 2,258 2,496 2,838
% Change from 7.9% 10.5% 13.7%
previous Qtr.
Off-Net 1,134 1,140 1,427 4,481
% Change from 0.5% 25.2% 214.0%
previous Qtr.
Non Core 1,468 1,309 1,305 1,859
% Change from -10.8% -0.3% 37.1%
previous Qtr.
Total 4,694 4,707 5,228 9,178
% Change from 0.3% 11.1% 75.6%
previous Qtr.
Other - end
of period
Buildings On Net 877 930 961 989
Employees 230 235 265 297
COGENT COMMUNICATIONS GROUP, INC., AND SUBSIDIARIES
Summary of Financial and Operational Results
Metric ($ in 000's, Q1 2005 Q2 2005 Q3 2005
except per share data)
- unaudited
On-Net Revenue $18,216 $18,936 $20,181
% Change from 10.1% 4.0% 6.6%
previous Qtr.
Off-Net Revenue $12,747 $11,718 $10,553
% Change from 54.9% -8.1% -9.9%
previous Qtr.
Non-Core revenue (1) $3,451 $3,152 $3,038
% Change from 0.0% -8.7% -3.6%
previous Qtr.
Net service revenue - total $34,414 $33,806 $33,772
% Change from 22.0% -1.8% -0.1%
previous Qtr.
Network operations $22,937 $21,399 $21,495
expenses (2)
% Change from previous Qtr. 13.8% -6.7% 0.4%
Selling, general and $10,296 $10,096 $10,176
administrative expenses (3)
% Change from -15.4% -1.9% 0.8%
previous Qtr.
Depreciation and $13,680 $12,795 $12,432
amortization expenses
% Change from previous Qtr. -8.7% -6.5% -2.8%
Basic and diluted net $(0.92) $(0.47) $(0.37)
loss per common share
applicable to common stock
% Change from 96.3% 48.9% 21.9%
previous Qtr.
Weighted average common 16,260,654 34,489,085 43,886,390
shares - basic and diluted
% Change from previous Qtr. 1,882.7% 112.1% 27.2%
EBITDA, as adjusted (4) $4,657 $2,311 $2,102
% Change from 213.3% -50.4% -9.0%
previous Qtr.
Cash (used in) provided $(6,622) $(1,539) $1,839
by operating activities
% Change from previous Qtr. -42.8% 76.8% 219.5%
Capital expenditures $3,092 $5,058 $3,998
% Change from previous -18.6% 63.6% -21.0%
Qtr.
Customer Connections -
end of period
On-Net 3,245 3,587 4,064
% Change from previous 14.3% 10.5% 13.3%
Qtr.
Off-Net 4,469 4,302 4,108
% Change from previous Qtr. -0.3% -3.7% -4.5%
Non Core 1,721 1,579 1,437
% Change from previous -7.4% -8.3% -8.7%
Qtr.
Total 9,435 9,468 9,609
% Change from previous 2.8% 0.3% 1.5%
Qtr.
Other - end of period
Buildings On 1,000 1,009 1,026
Net
Employees 291 285 307
(1) Consists of legacy services of companies whose assets or business were acquired by Cogent, including email, retail dial-up Internet access, shared web hosting, managed web hosting, managed security, voice services (only provided in Toronto, Canada), point-to-point private line services, managed modem services and until December 31, 2004 services provided to LambdaNet Germany under a network sharing arrangement as discussed in Cogent's SEC filings.
(2) Excludes amortization of deferred compensation of $212, $213, $207, $226, $96, $95 and $95 in the three months ended March 31, 2004, June 30, 2004, September 30, 2004, December 31, 2004, March 31, 2005, June 30, 2005 and September 30, 2005, respectively.
(3) Excludes amortization of deferred compensation of $2,820, $2,832, $2,753, $2,999, $3,099, $3,080 and $3,069 in the three months ended March 31, 2004, June 30, 2004, September 30, 2004, December 31, 2004, March 31, 2005, June 30, 2005 and September 30, 2005, respectively.
(4) See schedule of non-GAAP metrics below for definition and reconciliation to GAAP measures. EBITDA, as adjusted, includes net gains from the disposition of assets of $750 and $3,476 in the three months ended March 31, 2004 and three months ended March 31, 2005, respectively. EBITDA, as adjusted excludes gains on debt and capital lease restructurings of $5,292, $842 and $844 for the three months ended December 31, 2004, three months ended June 30, 2005 and three months ended September 30, 2005 respectively. EBITDA as adjusted, also excludes restructuring charges related to the lease termination costs of the Company's' Paris office lease of $1,396, $425 and $1,319 taken during the three months ended September 30, 2004, December 31, 2004 and September 30, 2005, respectively.
Schedule of Non-GAAP Measures - EBITDA and EBITDA, as adjusted EBITDA represents net (loss) income before income taxes, net interest expense, depreciation and amortization. Management believes the most directly comparable measure to EBITDA calculated in accordance with GAAP is cash flows (used in) provided by operating activities.
EBITDA, as adjusted, represents EBITDA less gains on debt and capital lease restructurings and restructuring charges. The Company has excluded the gains because they relate to its capital structure and the restructuring charges because they were non-cash charges. The Company believes EBITDA, as adjusted, is a useful measure of its ability to service debt, fund capital expenditures, expand its business and make bonus determinations for its employees. EBITDA, as adjusted, is an integral part of the internal reporting and planning system used by management as a supplement to GAAP financial information. The Company also believes that EBITDA is a frequently used measure by securities analysts, investors, and other interested parties in their evaluation of issuers.
EBITDA and EBITDA, as adjusted, are not recognized terms under generally accepted accounting principles in the United States, or GAAP, and accordingly, should not be viewed in isolation or as a substitute for the analysis of results as reported under GAAP, but rather as a supplemental measure to GAAP. For example, EBITDA is not intended to reflect the Company's free cash flow, as it does not consider certain current or future cash requirements, such as capital expenditures, contractual commitments, changes in working capital needs, interest expenses and debt service requirements. The Company's calculations of EBITDA and EBITDA, as adjusted, may also differ from the calculation of EBITDA and EBITDA, as adjusted, by its competitors and other companies and as such, its utility as a comparative measure is limited.
COGENT COMMUNICATIONS GROUP, INC., AND SUBSIDIARIES
EBITDA and EBITDA, as adjusted, are calculated in the table below.
($ In 000's) - Q1 2004 Q2 2004 Q3 2004 Q4 2004
unaudited
Cash flows (used in) $(11,582) $(6,344) $(3,863) $(4,636)
provided by operating
activities
Changes in working 4,461 1,161 (2,569) (2,447)
capital
Cash interest 2,000 2,759 2,601 2,465
expense, net
Gains on debt and 750 - - 5,374
capital lease ----- ----- ----- -----
restructurings
and asset sales, net
EBITDA, including $(4,371) $(2,424) $(3,831) $756
gains and
restructuring charges
Gains on debt and - - - (5,292)
capital lease
restructurings
Restructuring charges - - 1,396 425
----- ----- ----- -----
EBITDA, as adjusted $(4,371) $(2,424) $(2,435) $(4,111)
------ ------ ------ ------
COGENT COMMUNICATIONS GROUP, INC., AND SUBSIDIARIES
EBITDA and EBITDA, as adjusted, are calculated in the table below.
($ In 000's) - Q1 2005 Q2 2005 Q3 2005 Q4 2005 2005
unaudited Estimated Estimated
Cash flows $(6,622) ($1,539) $1,839 1,000 $(6,000)
(used in)
provided by
operating
activities
Changes in 5,386 1,217 (2,782) (750) 3,705
working capital
Cash interest 2,417 2,633 1,726 1,750 8,500
expense, net
Gains on debt 3,476 842 844 - 5,162
and capital ----- ----- ----- ----- -----
lease
restructurings
and asset
sales, net
EBITDA, $4,657 $3,153 $1,627 $2,000 $11,367
including gains
Gains on debt - (842) (844) - (1,686)
and capital
lease
restructurings
Restructuring - - 1,319 - 1,319
charges ----- ----- ----- ----- -----
EBITDA, as $4,657 $2,311 $2,102 $2,000 $11,000
adjusted ------ ------ ------ ------ ------
Cogent's SEC filings are available online via the Investor Relations section of http://www.cogentco.com/ or on the Securities and Exchange website at http://www.sec.gov/.
COGENT COMMUNICATIONS GROUP, INC., AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 31, 2004 AND SEPTEMBER 30, 2005
(IN THOUSANDS, EXCEPT SHARE DATA)
December 31, September 30,
2004 2005
------------ ------------
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $ 13,844 $ 35,555
Short term investments ($355 and $700
restricted, respectively) 509 754
Accounts receivable, net of allowance for
doubtful accounts of $3,229 and $2,106,
respectively 13,564 14,289
Prepaid expenses and other current assets 4,224 3,798
--------- ---------
Total current assets 32,141 54,396
Property and equipment:
Property and equipment 475,775 482,029
Accumulated depreciation and amortization (138,500) (178,188)
--------- ---------
Total property and equipment, net 337,275 303,841
Intangible assets:
Intangible assets 30,240 29,889
Accumulated amortization (27,115) (28,397)
--------- ---------
Total intangible assets, net 3,125 1,492
Asset held for sale 1,220 -
Restricted cash - 4,000
Other assets ($1,370 and $1,375 restricted,
respectively) 4,825 4,620
--------- ---------
Total assets $ 378,586 $ 368,349
========= =========
Liabilities and stockholders' equity
Current liabilities:
Accounts payable $ 16,090 $ 11,568
Accrued liabilities 20,669 17,038
Capital lease obligations, current maturities 7,488 6,525
--------- ---------
Total current liabilities 44,247 35,131
Amended and Restated Cisco Note - related party 17,842 -
Convertible subordinated notes, net of discount
of $5,026 and $3,916, respectively 5,165 6,275
Capital lease obligations, net of current
maturities 95,887 86,763
Other long-term liabilities 2,955 2,549
--------- ---------
Total liabilities 166,096 130,718
Commitments and contingencies
Stockholders' equity:
Convertible preferred stock, Series F, $0.001
par value; 11,000 shares authorized, issued,
and outstanding at December 31, 2004; none at
September 30, 2005 10,904 -
Convertible preferred stock, Series G, $0.001
par value; 41,030 shares authorized, 41,021
shares issued and outstanding at December 31,
2004; none at September 30, 2005 40,778 -
Convertible preferred stock, Series H, $0.001
par value; 84,001 shares authorized; 45,821
shares issued and outstanding at December 31,
2004; none at September 30, 2005 44,309 -
Convertible preferred stock, Series I, $0.001 par
value; 3,000 shares authorized, 2,575 shares
issued and outstanding at December 31, 2004;
none at September 30, 2005 2,545 -
Convertible preferred stock, Series J, $0.001 par
value; 3,891 shares authorized, issued and
outstanding at December 31, 2004; none at
September 30, 2005 19,421 -
Convertible preferred stock, Series K, $0.001 par
value; 2,600 shares authorized, issued and
outstanding at December 31, 2004; none at
September 30, 2005 2,588 -
Convertible preferred stock, Series L, $0.001 par
value; 185 shares authorized, issued and
outstanding at December 31, 2004; none at
September 30, 2005 927 -
Convertible preferred stock, Series M, $0.001 par
value; 3,701 shares authorized, issued and
outstanding at December 31, 2004; none at
September 30, 2005 18,353
Common stock, $0.001 par value; 75,000,000 shares
authorized; 827,487 and 43,885,754 shares
outstanding, respectively 1 44
Additional paid-in capital 236,692 439,756
Deferred compensation (22,533) (12,692)
Stock purchase warrants 764 764
Treasury stock, 61,462 shares (90) (90)
Accumulated other comprehensive income - foreign
currency translation adjustment 1,515 763
Accumulated deficit (143,684) (190,914)
--------- ---------
Total stockholders' equity 212,490 237,631
--------- ---------
Total liabilities and stockholders' equity $ 378,586 $ 368,349
========= =========
COGENT COMMUNICATIONS GROUP, INC., AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2004 AND SEPTEMBER 30, 2005
(IN THOUSANDS EXCEPT SHARE AND PER SHARE AMOUNTS)
Three Months Ended Three Months Ended
September 30, 2004 September 30, 2005
------------------ ------------------
(Unaudited) (Unaudited)
Net service revenue $ 21,736 $ 33,772
Operating expenses:
Network operations (including $207 and
$95 of amortization of deferred
compensation, respectively, exclusive
of amounts shown separately) 14,510 21,590
Selling, general, and administrative
(including $2,753 and $3,069 of
amortization of deferred compensation,
respectively, and $432 and $824 of bad
debt expense, respectively) 11,842 13,245
Restructuring charges 1,396 1,319
Terminated public offering costs 779 -
Depreciation and amortization 13,369 12,432
----------- -----------
Total operating expenses 41,896 48,586
----------- -----------
Operating loss (20,160) (14,814)
Gain on capital lease restructuring - 844
Interest income and other, net 181 489
Interest expense (3,062) (2,625)
----------- -----------
Net loss $ (23,041) $ (16,106)
=========== ===========
Beneficial conversion charge (3,455) -
Net loss applicable to common
shareholders $ (26,496) $ (16,106)
=========== ===========
Net loss per common share:
=========== ===========
Basic and diluted net loss per common
share $ (28.58) $ (0.37)
=========== ===========
Beneficial conversion charges (4.29) -
=========== ===========
Basic and diluted net loss per common
share applicable to common stock $ (32.87) $ (0.37)
=========== ===========
Weighted-average common shares -- basic
and diluted 806,151 43,886,390
=========== ===========
COGENT COMMUNICATIONS GROUP, INC., AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2004 AND SEPTEMBER 30, 2005
(IN THOUSANDS EXCEPT SHARE AND PER SHARE AMOUNTS)
Nine Months Ended Nine Months Ended
September 30, September 30,
2004 2005
---------------- -----------------
(Unaudited) (Unaudited)
Net service revenue $ 63,068 $ 101,990
Operating expenses:
Network operations (including $633 and
$286 of amortization of deferred
compensation, respectively, exclusive
of amounts shown separately) 43,944 66,117
Selling, general, and administrative
(including $8,404 and $9,249 of
amortization of deferred compensation,
respectively, and $2,453 and $3,795 of
bad debt expense, respectively) 36,612 39,816
Restructuring charges 1,396 1,319
Terminated public offering costs 779 -
Depreciation and amortization 41,654 38,908
----------- -----------
Total operating expenses 124,385 146,160
----------- -----------
Operating loss (61,317) (44,170)
Gains on disposition of assets, net 842 3,372
Gains on Cisco debt repayment and
capital lease restructuring - 1,686
Interest income and other, net 471 862
Interest expense (9,432) (8,980)
----------- -----------
Net loss $ (69,436) $ (47,230)
=========== ===========
Beneficial conversion charges (25,483) -
----------- -----------
Net loss applicable to common
shareholders $ (94,919) $ (47,230)
=========== ===========
Net loss per common share:
Basic and diluted net loss per
common share $ (93.31) $ (1.49)
=========== ===========
Beneficial conversion charges (34.25) -
=========== ===========
Basic and diluted net loss per common
share applicable to common stock $ (127.56) $ (1.49)
=========== ===========
Weighted-average common shares --
basic and diluted 744,138 31,646,576
=========== ===========
COGENT COMMUNICATIONS GROUP, INC., AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2004 AND SEPTEMBER 30, 2005
(IN THOUSANDS)
Nine Months Ended Nine Months Ended
September 30, September 30,
2004 2005
----------------- -----------------
(Unaudited) (Unaudited)
Cash flows from operating activities:
Net loss $ (69,436) $ (47,230)
Adjustments to reconcile net loss to
net cash used in operating activities:
Gains -- dispositions of assets and
debt, net (736) (4,825)
Depreciation and amortization 41,654 38,908
Amortization of debt discount --
convertible notes 758 1,110
Amortization of deferred compensation 9,037 9,535
Changes in assets and liabilities, net
of acquisitions:
Accounts receivable 2,231 (1,400)
Prepaid expenses and other current assets 1,480 208
Other assets 740 (152)
Accounts payable, accrued and other
liabilities (7,593) (2,476)
----------- -----------
Net cash used in operating activities (21,865) (6,322)
----------- -----------
Cash flows from investing activities:
Purchases of property and equipment (6,335) (12,148)
Purchase of German network assets - (932)
Maturities (purchases) of short term
investments 3,514 (41)
Restricted cash-collateral under credit
facility - (4,000)
Cash acquired -- acquisitions 2,329 -
Proceeds from other acquired assets 602 -
Purchases of intangible assets (357) -
Proceeds from dispositions of assets 3,678 5,122
----------- -----------
Net cash provided by (used in) investing
activities 3,431 (11,999)
----------- -----------
Cash flows from financing activities:
Proceeds from sale of common stock, net - 63,723
Cash acquired -- mergers 23,855 -
Proceeds from issuance of subordinated
note -- related party - 10,000
Repayment of subordinated note --
related party (10,000)
Borrowings under credit facility - 10,000
Repayments under credit facility - (10,000)
Repayment of Cisco note - related party - (17,000)
Repayment of advances from LNG Holdings
-- related party (1,225) -
Repayments of capital lease obligations (3,199) (6,059)
----------- -----------
Net cash provided by financing activities 19,431 40,664
----------- -----------
Effect of exchange rate changes on cash (76) (632)
----------- -----------
Net increase in cash and cash equivalents 921 21,711
Cash and cash equivalents, beginning of
period 7,875 13,844
----------- -----------
Cash and cash equivalents, end of period $ 8,796 $ 35,555
=========== ===========
Conference Call and Website Information
Cogent will host a conference call with financial analysts at 8:30 a.m. (EDT) today to discuss Cogent's operating results for the third quarter 2005. Investors and other interested parties may access a live audio webcast of the earnings call under "Events" at the Investor Relations section of Cogent's website at http://www.cogentco.com/. A replay of the webcast, together with the press release, will be available on the website following the earnings call.
About Cogent Communications
Cogent Communications (AMEX:COI) is a multinational, Tier 1 facilities- based ISP ranked by Ovum-RHK as the largest provider of Ethernet services in the United States. Cogent specializes in providing businesses with high speed Internet access and point-to-point transport services. Cogent's facilities- based, all-optical IP network backbone spans 12 countries and provides IP services in over 85 markets located in North America and Europe.
Cogent Communications is headquartered at 1015 31st Street, NW, Washington, D.C. 20007. For more information, visit http://www.cogentco.com/. Cogent Communications can be reached in the United States at (202) 295-4200 or via email at .
Except for historical information and discussion contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The specific forward-looking statements cover Cogent's expectations for revenue and EBITDA, as adjusted, for the fourth quarter of 2005 and fiscal year 2005. The statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations. Numerous factors could cause or contribute to such differences. Some of the factors and risks associated with our business are discussed in Cogent's filings with the Securities and Exchange Commission.
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DATASOURCE: Cogent Communications
CONTACT: Public Relations: Jeff Henriksen, +1-202-295-4200,
; or Investor Relations: John Chang, +1-202-295-4212,
, both of Cogent Communications
Web site: http://www.cogentco.com/