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UPDATE 1-Cogeco Cable posts quarterly loss after charge

Thu Apr 9, 2009 8:04am EDT

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* Net loss C$7.39/share vs profit C$1.02/share

* Profit 51 Canadian cents/share excluding one-time items

TORONTO, April 9 (Reuters) - Cogeco Cable Inc (CCA.TO) report a fiscal second-quarter loss as it recorded a non-cash impairment charge related to its investment in Cabovisao.

The net loss in the quarter ended Feb. 28 was C$358.6 million, or C$7.39 a share, compared with a year-earlier profit of C$49.9 million, or C$1.02 a share, the company said on Thursday.

Excluding items, Cogeco Cable posted earnings of C$25.1 million, or 51 Canadian cents a share, down from C$25.9 million, or 53 cents a share, a year earlier.

Cogeco Cable shares closed at $33 Wednesday on the Toronto Stock Exchange. (Reporting by Euan Rocha; editing by John Wallace)



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