Shaw raises guidance on 2013 free cash, reports $250-million Q3 profit

CALGARY – Shaw Communications Inc. (TSX:SJR.B) says it has been able to minimize flood-related disruptions to its infrastructure in Alberta and is on track to generate more free cash than previously expected in the current financial year.

In the fiscal third quarter ended May 31, the Calgary-based cable, Internet and TV company had $1.33 billion of revenue — up four per cent from last year.

Its overall net income edged up to $250 million from $248 million in the year-earlier quarter, although earnings per share dropped a penny to 52 cents.

Shaw said its free cash flow during the third quarter, which ended before Alberta suffered its worst flooding on record, was $138 million.

The company says the strength of its network redundancy and responsiveness of its technical team kept service disruptions to a minimum.

Shaw also says it’s on track to generate between $590 million and $600 million of free cash flow in fiscal 2013, which is above the company’s previous guidance.