Shaw Communications Q2 Profit Rises; Backs FY14 Outlook - Quick Facts

(RTTNews) - Diversified Canadian communications company Shaw Communications Inc. (SJR ,SJR_B.TO) reported that its second-quarter net income attributable to equity shareholders rose to C$215 million from last year's C$172 million, with earnings per share improving to C$0.46 from C$0.38 last year.

The latest-period benefitted from a gain realized on the sale of certain media assets as well as lower interest expense and amortization, the total of which was partially offset by higher income taxes. Revenues for the quarter grew to C$1.274 billion from C$1.251 billion in the prior year quarter.

Looking ahead to fiscal 2014, the company still expects consolidated revenue and operating income before amortization growth, after adjusting for the net impact of fiscal 2013 acquisition and disposition activity, to range from 2% to 4%. It still expects a marginal decline in capital investment, excluding capital investment funded through the accelerated capital fund, and an increase in cash taxes. Free cash flow is still expected to range from C$625 million to C$650 million.