Shaw Communications Q4 Profit Down

(RTTNews) - Diversified Canadian communications company Shaw Communications Inc. (SJR,SJR_B.TO) reported that its fourth-quarter net income declined to C$117 million or C$0.24 per share from C$133 million or C$0.28 per share in the same period last year.

In the latest-quarter, lower interest expense and income taxes of C$8 million and C$13 million, respectively, were more than offset by higher amortization of C$13 million and net other costs and revenues of C$19 million. The net other costs and revenue included a write-down of C$14 million related to assets held for sale.

Consolidated revenue for the quarter rose to C$1.25 billion from C$1.21 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of C$0.33 per share and revenues of C$1.24 billion for the quarter. Analysts' estimates typically exclude special items.

On a preliminary basis, for fiscal 2014 the company 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 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 expected to range from C$625 million to C$650 million.