Shaw Communications reports growth
The company points to investments in programming, technology and products, combined with operational efficiencies.
Shaw Communications reported stable fourth quarter earnings on Thursday, with net income and revenues both up.
Net income at the company was $192 million for the quarter compared to $117 million for the same period last year, representing an increase of 64%. On the year, net income was up 13% to $887 million, compared to $784 million for the same period in 2013.
Fourth quarter consolidated revenues were $1.26 billion for the three months to Aug. 31, an increase of 1% over the same period last year. For the year, it reported consolidated revenue of $5.24 billion, representing 2% growth over the same period in 2013.
Meanwhile, operating income before restructuring costs and amortization was $525 million for the quarter and $2.26 billion for the year, representing increases of 6% and 2% respectively.
Cable revenue was up slightly at $837 million for the quarter and $3.36 billion over twelve months, improvements of 2% and 3% respectively.
Satellite revenue was virtually unchanged at $220 million for the quarter compared to $219 during the same period of the previous year.
Meanwhile, the company’s quarterly revenue in its media division was $231 million, the same as in the fourth quarter in 2013.
Thanks to the acquisition of ViaWest, a North American provider of data centre infrastructure, cloud technology and managed IT solutions, which Shaw expects to contribute US$85 million in 2015, the company expects growth in consolidated operating income before restructuring costs and amortization to range from 5% to 7%