Shaw Communications Q3 revenue $1.26 billionStaff writer ▼ | October 24, 2014
Shaw Communications announced consolidated financial and operating results for the fourth quarter and year ended August 31, 2014.
Slight increase $5.24 billion in revenues for Shaw
Free cash flow1 for the three and twelve month periods of $143 million and $698 million, respectively, compared to $61 million and $604 million for the same periods last year.
The improvement was due to increased operating income before restructuring costs and amortization, lower capital investment and interest expense, partially offset by higher cash taxes.
Net income was up 64% to $192 million or $0.40 per share for the quarter ended August 31, 2014 compared to $117 million or $0.24 per share for the same period last year. Net income for the annual period of $887 million or $1.84 per share improved 13% over the comparable period amounts of $784 million or $1.64 per share.
The current periods benefitted from higher operating income before amortization and restructuring costs, lower amortization and interest expense and improved net other costs and revenue, partially offset by higher income taxes. On an annual basis, the impact of the aforementioned items was partially reduced by restructuring costs.
Revenue in the Cable division of $837 million and $3.36 billion for the current three and twelve month periods improved 2% and 3%, respectively, over the comparable periods. Operating income before restructuring costs and amortization for the quarter of $412 million increased 4% over the same quarter last year and the twelve month period was up 3% to $1.63 billion.
Satellite revenue of $220 million and $878 million for the three and twelve month periods, respectively, compared to $219 million and $860 million in the same periods last year.
Operating income before restructuring costs and amortization for the current quarter was $72 million compared to $66 million last year and the annual amount of $277 million compared to $285 million in the prior year.
Quarterly revenue in the Media division of $231 million was consistent with the same quarter last year while operating income before restructuring costs and amortization of $41 million improved from $34 million in the comparable period.
On an annual basis Media revenue was $1.10 billion compared to $1.11 billion last year while operating income before restructuring costs and amortization was unchanged at $353 million. ■