UPDATE 2-Cogeco Cable profit falls on impairment charges
* Q3 EPS C$0.72 vs C$0.98 yr earlier
* Cuts FY14 profit forecast to C$210 mln from C$235 mln
* Books impairment charges of C$32.2 mln during Q3
* Sees FY15 rev 3.8 pct higher than current year's outlook (Adds full-year forecast, details from release)
July 10 (Reuters) - Canadian telecommunications company Cogeco Cable Inc reported a lower third-quarter profit and cut its full-year profit outlook by 10.6 percent hurt by impairment charges at its Cogeco Cable Canada unit.
The company expects revenue for the next financial year to be $2.03 billion, up 3.8 percent from the projected revenue for the current year ending August.
The company, which provides cable TV, Internet and phone services, said net profit fell to C$35.5 million ($33.3 million) or C$0.72 per share, for the quarter ended May 31, from C$48.1 million, or C$0.98 per share, a year earlier.
Cogeco Cable Canada recognized an impairment charge of C$32.2 million related to an Internet Protocol Television project.
The Montreal-based company's Canadian cable services unit lost 8,021 cable customers, while 1,433 telephone customers canceled their services in the third quarter. Continued...