Shaw reports positive financial results


Dollar SignCanadian media conglomerate Shaw Communications, which marches to its own fiscal year drummer, had positive news to report about its own first quarter, which ended 11/30/12.
Shaw provides cable, satellite and internet service, as well as various broadcast and cable programming networks.

Its consolidated revenue was up 3% to $1.32B for the quarter, and total operating income was up 6% to $601M. Net income reached $235M, up from $202M, amounting to a $0.07 increase per share to $0.50.

The company’s Media division gained 7% to $131M on higher advertising and subscription income, which outpaced the negative of higher program costs.

Chief Executive Officer Brad Shaw said, “The business performed well in the quarter building on the positive momentum from the second half of last year. We continue to leverage our portfolio of assets to deliver innovative new offerings and enhanced services, providing choice and value to our customers. We will remain focused on disciplined and sustainable pricing strategies, customer retention, and long term growth. We are off to a solid start for the year and will continue to drive ongoing performance and value.”

RBR-TVBR observation: The good thing about this is that it was done without the benefit of massive spending on a hotly-contested set of national, state and district electoral battles. As the trudges upward, any number that can be written in black ink is a good thing.