Shaw announces first quarter financial and operating results

CALGARY, Alberta — Shaw Communications Inc. (TSX – SJR.B, NYSE – SJR) announced consolidated financial and operating results for the first quarter ended November 30, 2013.

Cable

Cable revenue for the three month period of $844 million improved 4.3% over the comparable period last year. Rate increases and lower promotional activity along with growth in Business, including the Envision acquisition, were partially offset by lower Video subscribers and the divestiture of Mountain Cable.

During the quarter Video subscribers decreased 29,619.

Satellite

Revenue of $218 million for the three month period was up 1.9% over the same period last year primarily due to rate increases partially offset by lower subscribers and increased promotional activity.

During the quarter, Shaw Direct subscribers declined 9,323. As at November 30, 2013 DTH customers totaled 894,242.

During the quarter, Shaw Direct launched eight new HD channels including four Hollywood Suites channels, the Knowledge Network, and three French language channels: Addik TV, Casa, and Zeste. Shaw Direct offers over 650 channels of which more than 215 are HD.

Subscriber statistics:

                                        Three months
                           Total  ended November 30,
                    November 30,  ------------------
                            2013      2013      2012
                    ------------  --------  --------
Video customers        2,010,628  (29,619)  (23,877)
DTH customers            894,242   (9,323)   (4,021)