Shaw Communications Q4 Profit Rises, Beats View - Quick Facts

(RTTNews) - Canadian communications and media company Shaw Communications, Inc. (SJR, SJR.B.TO) said its profit for the fourth quarter increased 44 percent from last year, reflecting revenue growth across all its segments and a one-time gain. Earnings per share for the quarter beat analysts' expectations.

The increase in net income for the quarter driven primarily by improvement in operating income before restructuring costs and amortization as well as on a one-time gain on the sale of spectrum licenses for advanced wireless service. These were partially offset by an increase in amortization and income taxes.

For fiscal 2016, Shaw is targeting operating income before restructuring costs and amortization to range between flat and low single digit growth over 2015, including the costs associated with the X1 platform.

The company's fourth-quarter net income attributable to equity shareholders was C$276 million or C$0.57 per share, up from C$192 million or C$0.40 per share, last year.

On average, analysts polled by Thomson Reuters expected the company to earn C$0.42 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenue for the quarter rose 6.3 percent to C$1.34 billion from C$1.26 billion in the comparable quarter last year. Wall Street expected revenue of C$1.35 billion.