Shaw, Corus see bottom lines boom
Shaw's revenue up 7%
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Shaw was buoyed by new subscribers to Internet and digital TV, and Corus enjoyed a spike in radio and special television ad rev.
Shaw's net earnings for the second quarter, ended Feb. 28, were C$32.1 million ($25.9 million), almost double the $13.9 million Canada's second-largest cabler posted a year earlier. Shaw's rev was up 7% at $442.9 million.
"We reported solid growth of digital and Internet customers and with these increases, approximately 45% of Shaw's customers now subscribe to bundled services, compared with 41% last year," said Jim Shaw, the company's CEO.
Digital and Web subs increased 3% during the quarter, 15,517 and 32,539, respectively. Conventional cable subscribership dipped slightly.
Cable revenue jumped 7.6% to $320.2 million, the result of higher prices and the acquisition of Monarch Cable Systems in late fiscal 2004.
Toronto-based Corus, Shaw's terrestrial and specialty TV and radio spinoff, posted a 56% increase in net earnings on the strength of gains in radio and specialty TV ad revenue.
Corus posted a profit of $10.4 million on revenue of $125.1 million, on par with a year ago.
"Corus benefited from an improved competitive position and strong category growth in the two principal segments in which we compete," said John Cassaday, prexy-CEO, referring to the company's radio and TV operations, combined rev for which climbed 10% to $108.9 million. The company has an interest in three terrestrial TV channels and 10 specialty channels, as well as multiple radio stations in five Canadian provinces.
The company's content division, kidvid programming and product producer-distributor Nelvana, lagged behind, however, with a 40% drop in rev to $16.8 million, due to a dip in the number of "Beyblade" episodes produced and less revenue from Beyblade merchandise.







