CALGARY – Characterizing the results as "solid", Shaw Communications today announced second quarter fiscal 2009 subscriber results that saw digital television subscriber growth rise by more than double as compared to the second quarter of fiscal 2008.
Basic cable subscribers increased 4,273 to 2,273,904 in the quartere ended February 28, digital and Internet customers grew by 106,489 to 1,076,373 and 26,130 to 1,626,334, respectively, and digital phone lines were up 50,848 to 719,376. Star Choice DTH customers increased 3,657 to 896,633.
Internet and phone sub growth was slower, however. The company’s growth rate on Internet subs was 46% slower than Q2 ’08 and growth for phone subs was 10% off of last year.
"Our subscriber results for the quarter were strong, demonstrating the resilience of our business and strength of our strategy in the face of weaker economic conditions,” said CEO and vice-chairman Jim Shaw. “Our digital growth continues to gain momentum, with a record quarterly gain of over 100,000 customers. We recently enhanced Internet speeds, increasing the speed of all high speed products by 50% or greater; launched High Speed Nitro, a new 100 Mbps service; and, increased our people power to further enhance our ability to provide customers leading edge products and exceptional service. The strength of our customer service and technology platform are key competitive advantages for the company and we remain on track to achieve our financial guidance for fiscal 2009, which includes generating free cash flow of at least $500 million."
These subscriber results are provided for information purposes only. The increase in digital customers should not be used to infer or expect a material growth in financial results in the quarter, cautioned the release.
Shaw Communications Inc. plans to release its unaudited second quarter financial results on April 8, 2009.
