Shaw Reports Q3 Results

[cablewithaview]

Shaw Communications Inc. has posted a three-month profit of $128 million, up from $92 million a year ago on higher sales.

Consolidated service revenue for Shaw's third quarter ended May 31 was $792.1 million, a 13 per cent increase over the same period last year. The Calgary-based company said Friday its quarterly earnings amounted to 30 cents per share, compared with 21 cents last year.

Excluding non-operating items including a tax-rate break, net income for the latest three-month period was $117 million, up from $86 million, Shaw said.

Digital phone lines grew by 57,700 to 549,932 during the quarter, while digital cable customers increased by 32,658 to 883,300.

Shaw's Internet subscriber count edged up by 23,185 to 1.5 million and there were minor gains in basic cable subscribers and satellite-TV customers.

Revenue in the cable division was up 15 per cent to $608 million, boosted by rate increases, and satellite service revenue was $184 million, up five per cent.

"We remain on track to achieve our free cash flow guidance of approximately $450 million," CEO Jim Shaw said.

"During the fourth quarter we will continue to grow the business."


mediacastermagazine.com - Mediacaster - 6/28/2008