Shaw Communications Inc., the country’s second largest cable television provider, has announced its financial results for the first quarter of its fiscal year ending November 30, 2009.

The company reported that, despite the worst economic recession in seventy years, service revenue was $906 million, up 11% over the same period a year earlier while operating income was $475 million, up a whopping 29%.

Revenues in the Cable division were up 13% for the September to November time period to $709 million while service revenue in the satellite division was up 5% over the comparable period last year to $197 million.

During the quarter the number of subscribers at the company increased substantially on most services thanks to the acquisition of Mountain Cablevision in Hamilton, Ontario which added approximately 41,000 Basic cable customers, 24,000 Digital cable subscribers, 30,000 Internet subscribers, and 32,000 Digital Phone lines.

The number of basic cable customers actually declined by 1,416, however the number of higher paying digital cable customers rose by 88,259. Digital Phone lines increased 61,461 during the quarter to 923,365 lines and Internet was up 36,242 to total 1,744,577 as at November 30, 2009. Internet penetration of Basic now stands at almost 75%

The following are Shaw subscriber counts as of November 30 2009.
  • Basic cable customers - 2,329,612
  • Digital customers - 1,409,983
  • Internet customers - 1,744,577
  • Digital phone lines - 923,365
  • DTH satellite customers - 902,038

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