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Shaw net income climbs 75% in Q3

Company to increase capital, equipment spending

TORONTO — Cabler Shaw Communications announced a significant bottom-line improvement for its fiscal third quarter thanks to price increases and customer growth in all of its businesses, as well as the integration of the operations of cabler Monarch Cable Systems.

For the quarter ended May 31, Calgary-based Shaw posted a net income of C$43.3 million ($35.3 million), a 75% jump on a year earlier.

Canada’s No. 2 cabler, with 2.1 million basic and 587,000 digital subs in Western Canada, Shaw is also in the satcasting and digital Internet businesses. In the spring, it launched a digital phone division.

“Customer growth was positive, which reflects the strengthening of our bundled products, particularly with Shaw’s entry into the triple-play market of video, data and voice and the continued rollout of service enhancements across all product lines and services,” said CEO Jim Shaw.

He said the company is on track to meet its 2005 free cash flow guidance of $220 million-$232 million.

Revenue for third quarter was $456 million, up 5.2%. Cable revenue climbed 7% to $330 million and satellite was up 1% to $110 million.

Shaw also noted that the company plans to increase its capital and equipment spending to about $440 million next year as it upgrades its infrastructure and continues to roll out new services.

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