Dish Network 3rd-quarter profit falls

[Slamminc11]

Dish Network 3rd-quarter profit falls

ENGLEWOOD, Colo. – Dish Network Corp. said Monday third-quarter profit fell 12 percent as its subscriber base edged up.
The second-largest satellite TV provider in the U.S. says profit totaled $81 million, down from $92 million a year ago.
Revenue for the three months ended Sept. 30 edged down nearly 2 percent to $2.89 billion from $2.94 billion last year.
Dish says it gained about 241,000 net subscribers, up nearly 2 percent to 13.9 million.


Dish Network 3rd-quarter profit falls - Yahoo! News

[tigerfan33]

I wonder if Charlie will be happy with more subs or less cash this time.

[Slamminc11]

I would say that netting 241,000 net subs should make him pretty pleased. Especially since they didn't have ATT to help them out like DTV had.

[simplexswrhs90]

I think all the ads on the web and the new TV ads "Why Pay More" can be attributed to the 241,000 new subscribers.

The new marketing is really helping it looks like.

[HDRoberts]

Dish had 241k, DirecTV had 298k. Reasonably proportional to their existing sub counts. Plus, around half of DirecTV's ads were in their Latin America service. I bet the Dish ads were primarily English.

Dish is poised to do quite well. With the 922, they should so even better.

[tigerfan33]

Won't Chuckie have a presser today??

Edit: Yep. Today


http://dish.client.shareholder.com/r...leaseID=417920

[dennispap]

Here is the dish release

DISH Network - Investor Relations - 1.888.825.2557

[Scott Greczkowski]

DISH NETWORK CORPORATION REPORTS

THIRD QUARTER 2009 FINANCIAL RESULTS

ENGLEWOOD, Colo., Nov. 9, 2009 – DISH Network Corporation (NASDAQ: DISH) today reported total revenue of $2.892 billion for the quarter ended Sept. 30, 2009, a 1.5 percent decrease compared with $2.937 billion for the corresponding period in 2008.
Net income attributable to common shareholders totaled $81 million for the quarter ended Sept. 30, 2009, compared with $92 million during the corresponding period in 2008. Basic earnings per share were $0.18 for the quarter ended Sept. 30, 2009, compared with basic earnings per share of $0.20 during the corresponding period in 2008.
DISH Network gained approximately 241,000 net subscribers during the quarter ended Sept. 30, 2009, ending the quarter with approximately 13.851 million subscribers.
Detailed financial data and other information are available in DISH Network’s Form 10-Q for the quarterly period ended Sept. 30, 2009, filed today with the Securities and Exchange Commission.
DISH Network will host its Third Quarter 2009 financial results conference call today at noon ET. The dial-in number is (800) 616-6729.

One-Time Dividend
On Nov. 6, 2009, DISH Network Corporation’s Board of Directors declared a one-time dividend of $2.00 per share on outstanding Class A and Class B common stock. The dividend will be payable in cash on Dec. 2, 2009, to shareholders of record on Nov. 20, 2009.

[digiblur]

So it was a failure on E3 a couple of months ago...

EchoStar III. EchoStar III was originally designed to operate a maximum of 32 DBS transponders in full continental United States ("CONUS") mode at approximately 120 watts per channel, switchable to 16 transponders operating at over 230 watts per channel, and was equipped with a total of 44 traveling wave tube amplifiers ("TWTAs") to provide redundancy. As a result of TWTA failures in previous years and an additional pair of TWTA failures during August 2009, only 16 transponders are currently available for use. Due to redundancy switching limitations and specific channel authorizations, we are currently operating on 14 of our FCC authorized frequencies at the 61.5 degree orbital location. While the failures have not reduced the original minimum 12-year design life of the satellite, it is likely that additional TWTA failures will occur from time to time in the future, and such failures could further impact commercial operation of the satellite.

EchoStar XII. Prior to 2009, EchoStar XII experienced anomalies resulting in the loss of electrical power available from its solar arrays. During March and May 2009, EchoStar XII experienced more of these anomalies, which further reduced the electrical power available to operate EchoStar XII. We currently operate EchoStar XII in CONUS/spot beam hybrid mode. If we continue to operate the satellite in this mode, as a result of this loss of electrical power, we would be unable to use the full complement of its available transponders for the 12-year design life of the satellite. However, since the number of useable transponders on EchoStar XII depends on, among other things, whether EchoStar XII is operated in CONUS, spot beam, or hybrid CONUS/spot beam mode, we are unable to determine at this time the actual number of transponders that will be available at any given time or how many transponders can be used during the remaining estimated life of the satellite. Additionally, there can be no assurance that future anomalies will not cause further losses, which could impact the remaining useful life or commercial operation of EchoStar XII. As a result of the May 2009 anomalies on EchoStar XII, we determined that we had a triggering event related to EchoStar XII. See discussion of evaluation of impairment in "Long-Lived Satellite Assets" below. Based on this triggering event we performed an impairment review of the satellite using an undiscounted cash flow model and concluded that the estimated undiscounted cash flows associated with EchoStar XII were still in excess of its carrying value and therefore no impairment was required.

[Greg Bimson]

Good for them. It appears DISH is in the process of "righting the ship".