Cabler posted net income of $56.7 mil for the quarter
TORONTO — A subscriber uptick, reduced operating costs in the satellite division and a one-time investment gain helped Calgary-based Shaw Communications increase its annual bottom line by 77%.
Shaw, which is also Canada’s second-largest cabler, posted net income for the quarter ended Aug. 31 of C$66.4 million ($56.7 million), more than double the $24.7 million of last year’s Q4, on revenue of $480.4 million, up 6%. About $18.8 million of the quarterly profit was due to a one-time gain related to an investment in Motorola.
Shaw posted net income of $137 million for the year, up from $77.6 million, and a 6.3% increase in revenue, to $1.88 billion.
CEO Jim Shaw called this year the “breakthrough entry into the triple-play market” of voice, video and data, noting that business has been robust across all divisions.