Shaw Communications Inc.
) declared better financial results for the second quarter of
fiscal 2013. GAAP net income from continuing operations was $182
million, up 2.2% year over year. GAAP net earnings per share were
38 cents, flat year over year, but outpaced the Zacks Consensus
Estimate of 36 cents. Quarterly total revenue climbed 1.6% year
over year to approximately $1,276 million, handily beating the
Zacks Consensus Estimate of $1,259 million.
Quarterly operating income before amortization was around $334
million, up 14.3% year over year. Quarterly operating margin
stood at 26.1% compared with 23.2% in the prior-year quarter. In
the second quarter of fiscal 2013, Shaw Communications generated
around $442.7 million of cash from operations, up 112.7% year
over year. Free cash flow in the reported quarter was $280.1
million compared with a negative $23.5 million in the year-ago
At the end of the second quarter of fiscal 2013, Shaw
Communications had cash and marketable securities of $118.3
million compared with $435.5 million at the end of fiscal 2012.
At the end of the reported quarter, Shaw Communications had
$4,554.3 million in outstanding debt compared with $4,908.2
million at the end of fiscal 2012. Debt-to-capitalization ratio
at the end of the second quarter of fiscal 2013 was 0.51 compared
with 0.54 at the end of fiscal 2012.
As of Feb 28, 2013, Basic Cable customer base was 2,136,707,
reflecting a net reduction of 29,829 customers from the year-ago
quarter. Internet customer base stood at 1,910,185, reflecting
quarterly net addition of 7,800 customers. Digital phone lines
were 1,375,707, reflecting a year-over-year net addition of
13,090 lines. DTH customer base was 907,330, representing a
quarterly net addition of 1,328 customers.
Quarterly revenue was $830.3 million, up 1.2% year over year.
Strong revenue growth was attributed to subscriber addition and
rate increases. Quarterly operating income before amortization
was $400.1 million, up 11.6% year over year.
Quarterly total revenue of $213.2 million was down 0.9% year
over year. The segment's quarterly operating income before
amortization was $74.5 million, up 2.8% from the year-ago
Quarterly total revenue was $254 million, up 2.9% year over
year. Operating income before amortization was $73.4 million, up
2.9% year over year.
Currently, Shaw Communications has a Zacks Rank #3 (Hold).
Other Stocks to Consider
Some other companies in the same industry, which are yet to
release their first-quarter financial results, are
Rogers Communications Inc.
Liberty Global Inc.
). All three hold a Zacks Rank #2 (Buy).
LIBERTY GLBL-A (LBTYA): Free Stock Analysis
ROGERS COMM CLB (RCI): Free Stock Analysis
SHAW COMMS-CL B (SJR): Free Stock Analysis
AT&T INC (T): Free Stock Analysis Report
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