Cogent Communications Group (CCOI) has reported 23.32 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $4.14 million, or $0.09 a share in the quarter, compared with $3.35 million, or $0.08 a share for the same period last year.     

Revenue during the quarter grew 8.23 percent to $117.20 million from $108.29 million in the previous year period. Gross margin for the quarter expanded 43 basis points over the previous year period to 56.77 percent. Total expenses were 84.07 percent of quarterly revenues, down from 85.53 percent for the same period last year. This has led to an improvement of 145 basis points in operating margin to 15.93 percent.

Operating income for the quarter was $18.67 million, compared with $15.68 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $39.85 million compared with $35.61 million in the prior year period. At the same time, adjusted EBITDA margin improved 112 basis points in the quarter to 34 percent from 32.88 percent in the last year period.

The company has spent $12.25 million cash to meet investing activities during the quarter as against cash outgo of $15.03 million in the last year period.

The company has spent $22.77 million cash to carry out financing activities during the quarter as against cash outgo of $21.52 million in the last year period.

Cash and cash equivalents stood at stood at $263.20 million as at Mar. 31, 2017.