CALGARY – With son and CEO Jim in Africa on vacation (but in on the call), Shaw Communications founder and chairman JR Shaw led today’s company conference call with financial analysts
As reported yesterday by www.cartt.ca, Shaw had over 22,450 telephony customers as of the end of the third quarter of fiscal 2005, May 31st. That level of growth – which is continuing – has led the company to not only boost its capital expenditure plans for the immediate future, but also dramatically quicken its penetration expectations.
“At this stage our price point of $55 a month does not appear to be a deterrent to growth,” said JR in his presentation. The company is now predicting telephony penetration of “20% of our basic customers in the next three years versus our first forecast of five years,” he added.
When asked later in the call about the number of shares the Shaw family has purchased over the past while, the company founder said it’s done as a mix of business savvy and his love for the company.
“I’ve been around this company ever since it’s been an idea,” he said, “We started very humbly in ’70.
“This is my first love as far as any industry and anything else I could do. I look at our people, products and industry and look at the opportunities. I’m betting on this industry, our team and the service we provide,” he continued, adding he’s in the office nearly every day he’s in Calgary.
“Any chance we get as a family, we’re going to increase our ownership. I think the stock (which began trading today at $25.03) is under-priced.
“I think some day, it’s not going to start with a 2,” he added. “It’s a long ways from the one-plus-one we started with in the ’70s.”
– Greg O’Brien
