Shaw announces strong fourth quarter and full year results

Thursday, October 23rd, 2008
Shaw Communications logo

CALGARY, Alberta — Shaw Communications Inc. (TSX:SJR.B, NYSE:SJR) today announced results for the fourth quarter and fiscal year ended August 31, 2008. Consolidated service revenue for the three and twelve month periods of $806 million and $3.10 billion, respectively, improved 13% and 12% over the same periods last year.

Subscriber Highlights:

                                                          Growth
                                           -----------------------------------
                                             Three months          Year
                                  Total    ended August 31,   ended August 31,
                             August 31,    ----------------   ----------------
                                   2008       2008     2007      2008    2007
                             ----------    -------  -------   -------  -------
Basic cable customers         2,248,120      4,122   (2,057)   21,279   20,521
  Digital customers             906,320     23,020   15,709   143,180   90,556
  Digital terminals           1,205,239     25,793            188,675
DTH (Star Choice) customers     892,528      1,736    1,686    12,943   10,377

CABLE

Digital growth continues to be driven by the customer demand for HD services as well as a lower priced entry level box introduced earlier this year attracting first time digital customers. In September, the Company expanded the HD offerings to include TSN2 for sports fans and added The Frame, a 24-hour commercial-free photographic art service turning the TV into a virtual picture frame with stunning visual imagery from celebrated artists and photographers. Shaw now offers 50 HD channels, including 19 HD pay-per-view services and a growing library of HD VOD content. The Company added over 140,000 digital subscribers during the year and Digital penetration of Basic customers is now 40.3% compared to 34.3% at August 31, 2007. Shaw has over 900,000 Digital customers including 330,000 with HD capabilities.

SATELLITE DTH (Star Choice)

During the quarter Star Choice added additional HD channels including TVA HD, Superchannel HD as well as two PPV HD channels. Most recently Star Choice added TSN2 HD and now carries a total of 46 HD channels. During fiscal 2008 Star Choices’ HD customer base increased by approximately 100,000.

More: Earnings Release