Cogeco Inc. lost 14,210 cable television subscribers in the fourth quarter, the company said in a quarterly financial statement released Thursday. In its cable segment, Cogeco said it had 1,065,075 television subscribers at the end of the quarter on Aug. 31, 2013, down 14,210 from the previous quarter. The company reported having 562,260 telephone subscribers, a loss of 2,124 from the previous quarter, while gaining a net 1,097 Internet subscribers during the same three-month period. Cannacord Genuity analyst Dvai Ghose said in a research note that the net loss of 12,021 subscribers across all segments was “much worse than our 259 net loss estimate and consensus net loss of 1,781 driven by a significant decline in cable subscribers and an unexpected decline in telephony subscribers, driven by wireless substitution.” Cogeco Inc.’s revenues at the end of the three-month period were $504.7 million. Profits in the fourth quarter were $43.8 million, down 2.5 per cent from the third quarter of 2012, while “profit for the year amounted to $189.8 million when compared to $229.7 million for the same period of fiscal 2012,” the company said. In a release, Cogeco said the decrease was due to “additional depreciation and amortization,” financial expenses related to its acquisitions of U.S. cableco Atlantic Broadband Inc. and Canadian network operator Peer1 Network Enterprises Inc., as well as last year's profit of $55.4 million from the sale of its Portuguese subsidiary Cabovisao.