Canadian MSO Shaw Communications (NYSE: SJR), which trimmed 550 employee positions last month, including 150 at the management level, saw a 5 percent revenue increase in its cable division in the second quarter and 5 percent overall for the first six months of its fiscal year. Cable revenues were $768 million and $1.53 billion respectively based on "rate increases and growth," the company said. Operating income of $364 million was up 3 percent over the previous quarter.
The MSO said it would slow its wireless implementation pace as it more closely looks at 4G technology and is effects on the company.
"We continue to focus heavily on the strength of our core business and intend to make important investments in new technology platforms, digital reclamation and broadband capacity in order to ensure we maintain our technological leadership," said CEO Brad Shaw in the company's earnings news release. "We plan to slow our wireless build activities as we carefully consider all options in advance of the launch of a wireless service."
- see this news release
Jim Shaw leaving Shaw Communications' top spot early
Shaw lays off 500 employees, about 4% of its Canadian workforce
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