CALGARY – Shaw Communications announced its subscriber figures for the last two months, and re-confirmed its financial guidance for fiscal 2009.
Basic cable subscribers grew 7,053 to reach 2.28 million, while the company added 74,833 digital cable customers for a total of 1.15 million by April 30, 2009. Shaw also reported 1.64 million Internet customers and 758,155 digital phone lines.
It’s direct to home satellite subsidiary Shaw Direct (formerly Star Choice) lost just over 2,000 customers in that same time period, bringing its total to 894,573.
"Cable subscriber results exceed the two month customer figures from a year ago and it is clear that despite challenging conditions Shaw is well positioned to weather the storm and continue our track record of superior financial performance and customer growth,” said CEO and vice chair Jim Shaw, in the announcement.
Acknowledging the increasing competition in Western Canada, Shaw said that the company’s subscriber results for the first two months of its third quarter “demonstrate the continued resilience of our business and strength of our strategy in the face of weaker economic conditions”.
"Our customers embrace the value proposition of our services and we will continue to enhance our products going forward,” Shaw continued. “During the last two months we have expanded our digital simulcast in various markets, including Kelowna, Vernon and Penticton. This will contribute to our digital TV growth and we will be launching our all digital line-up in Red Deer, Kamloops and Thunder Bay in May.
“We have rolled out a 100 mbps internet offering, using DOCSIS 3.0 technology, in Saskatoon. Additional launches will occur in Victoria in May, Winnipeg in June and all other major markets this summer. Later this year, we are also planning to introduce leading edge video services that will take advantage of our superior broadband capabilities to provide customers with a new level of in-home experience."
Shaw said that the company remains “on track” to achieve its financial guidance for fiscal 2009, which includes generating free cash flow of at least $500 million. It will release its unaudited third quarter financial results at the end of June.
