Shaw Communications, Inc. reported un-audited consolidated earnings results for the first quarter ended November 30, 2014. For the quarter, the company reported revenue was CAD 1,389 million compared with CAD 1,362 million a year ago. Operating income was CAD 386 million compared with CAD 414 million a year ago. Income before income taxes was CAD 293 million compared with CAD 340 million a year ago. Net income attributable to equity shareholders was CAD 219 million compared with CAD 236 million a year ago. Basic and diluted earnings per share were CAD 0.46 compared with CAD 0.51 a year ago. Fund flow from operating activities was CAD 392 million compared with CAD 382 million a year ago. The improvement was primarily due to lower capital investment in the current quarter. Additions to property, plant and equipment was CAD 221 million compared with CAD 273 million a year ago. Additions to equipment cost was CAD 19 million against CAD 25 million a year ago. Additions to other intangibles was CAD 23 million against CAD 19 million a year ago. Consolidated operating income before amortization of CAD 606 million compared to CAD 608 million last year. The impact of the declines in Consumer and Media driven by the lower Revenue was primarily offset by the growth in Business Network Services and the addition of Business Infrastructure Services with the acquisition of ViaWest.

The company provided earnings guidance for the year 2015. the company expects consolidated operating income before restructuring costs and amortization growth to range from 5% to 7% with the inclusion of ViaWest which is expected to contribute approximately CAD 85 million. Increased capital investment (excluding amounts funded through the accelerated capital fund) is anticipated as the company continues to enhance its network, provide innovative product offerings and expand the ViaWest footprint. Combined with higher interest related to the ViaWest acquisition and increased cash taxes, free cash flow is expected to exceed CAD 650 million.