NEWS
10/22/2015 04:51 EDT | Updated 10/22/2016 01:12 EDT

Shaw gets Q4 bump from sale of spectrum to Rogers, net income up 44%

CALGARY — Shaw Communications Inc. (TSX:SJR.B) ended its 2015 financial year with a fourth-quarter bump in net income, which was up nearly 44 per cent from the same time last year.

The $276 million or 57 cents per share of net income for the quarter included a one-time gain from the sale of advanced wireless spectrum to its Toronto-based counterpart, Rogers Communications (TSX:RCI.B).

Revenue from Shaw's various services was up 6.3 per cent at $1.343 billion, compared with $1.26 billion a year earlier.

However, net income for Shaw's full financial year ended Aug. 31 was down nearly one per cent at $880 million or $1.80 per share, compared with $887 million or $1.84 per share in fiscal 2014.

Shaw also said its customer base took a hit in the fourth quarter because of a change in regulations and aggressive competitor pricing in June.