January 12, 2012 / 1:47 PM / in 6 years

UPDATE 2-Shaw Communications Q1 profit rises

(Adds details, background, shares)

* Q1 EPS C$0.43 vs C$0.03 year ago

* Shares down 2 pct

Jan 12 (Reuters) - Western Canada-focused cable company Shaw Communications’ quarterly profit rose, helped in part by growth in its cable and satellite segments.

For the first-quarter ended Nov. 30, 2011, net income from continuing operations was C$202 million, or 43 Canadian cents per share, compared with C$17 million, or 3 Canadian cents per share, a year ago.

The Calgary-based company had taken a charge of C$197 million related to the acquisition of Shaw Media and restructuring expenses in the year-ago quarter.

Revenue rose 19 percent to C$1.28 billion.

Analysts, on average, had expected earnings of 47 Canadian cents per share, on revenue of C$1.31 billion, according to Thomson Reuters I/B/E/S.

Cable segment revenue rose 4 percent to C$792 million helped by customer growth and price changes.

Shares of Shaw Communications, which have lost about 4 percent of their value over the last three months, were trading down about 2 percent at C$20 on Thursday on the Toronto Stock Exchange. (Reporting by Shounak Dasgupta in Bangalore; Editing by Sriraj Kalluvila)

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