Shaw Communications Inc., the country’s largest cable television provider, today announced its financial results for the first fiscal quarter ending November 30, 2011.
The company reported revenue for the three month period was $1.28 billion, up 19% over the same period last year. Operating income before amortization for the September to November time frame was $566 million, up 18% over the same period a year earlier.
In a written statement, Shaw CEO Brad Shaw said, "Our financial performance this quarter was solid. We continued to grow despite a volatile economic and competitive environment."
Revenue in the Cable division was up 4% for the three month period to $792 million. The improvement was driven by the additon of 59,566 digital cable customers, 10,685 internet customers and 22,969 digital phone customers along with price increases for all of their services. On a down note, the number of Shaw Basic cable customers contunes to fall. Shaw lost 22,768 basic cable subscribers during the quarter.
Revenue in the Satellite division was $209 million for the three month period, up from $206 million for the same period last year. Operating income before amortization for the quarter of $69 million was comparable to the same period last year. The company added 531 satellite customers in the three month period.
Revenue in the Media division for the three month period was $299 million and operating income before amortization was $120 million. For informational purposes, on a full quarter comparative basis to Q1 last year, Media revenues and operating income before amortization for the quarter declined 3% and 8%, respectively, reflecting the softening in the advertising market as a result of economic uncertainty.
The following are Shaw subscriber counts as of November 3o, 2011. The numbers in parenthesis is the growth in customers during the quarter.
- Basic cable customers - 2,267,007 (-22,768)
- Digital customers - 1,878,954 (59,566)
- Internet customers - 1,887,916 (10,685)
- Digital phone lines - 1,256,010 (22,969)
- DTH satellite customers - 909,414 (531)