DISH Network Reports Fourth Quarter and Year End 2011 Financial Results

[Scott Greczkowski]

DISH Network Reports Fourth Quarter and Year End 2011 Financial Results

In Fourth Quarter, DISH Network Revenues Grow by 13 Percent to $3.63 Billion and Net Income Increases 24 Percent to $313 Million

ENGLEWOOD, CO -- (MARKET WIRE) -- 02/23/12 -- DISH Network Corporation (NASDAQ: DISH) today reported total revenue of $3.63 billion for the quarter ended Dec. 31, 2011, a 13 percent increase compared with $3.21 billion for the corresponding period in 2010.

"DISH delivered a quarter and a year of strong growth in net income and total revenue compared to the same period last year," said Joe Clayton, president and CEO of DISH Network. "By introducing new Blockbuster-branded services, we've begun to turn the tide in subscriber losses while continuing to face increased competitive pressures. We look forward to the introduction of our new Hopper™ product this quarter, the most technically advanced whole-home HD DVR in the world."

Net income attributable to DISH Network totaled $313 million for the quarter ended Dec. 31, 2011, compared with $252 million during the corresponding period in 2010. Diluted earnings per share were $0.70 for the quarter ended Dec. 31, 2011, compared with $0.56 during the corresponding period in 2010.

For the year ended Dec. 31, 2011, DISH Network reported total revenue of $14.05 billion compared with $12.64 billion for the year ended Dec. 31, 2010, an increase of 11 percent. Net income attributable to DISH Network for the year ended Dec. 31, 2011, totaled $1.52 billion, compared with $985 million for the year ended Dec. 31, 2010. Diluted earnings per share were $3.39 for the year ended Dec. 31, 2011, compared with $2.20 during the corresponding period in 2010.

DISH Network gained approximately 22,000 net subscribers during the quarter ended Dec. 31, 2011, giving the company approximately 13.967 million subscribers at year-end. DISH Network's net subscribers decreased by approximately 166,000 for the full year ended Dec. 31, 2011.

Detailed financial data and other information are available in DISH Network's Form 10-K for the annual period ended Dec. 31, 2011, filed today with the Securities and Exchange Commission.

DISH Network will host its fourth quarter and year-end 2011 financial results conference call today at 9:30 a.m. ET. The dial-in number is (800) 616-6729.

[Scott Greczkowski]

SEC Filing Alert

DISH Network Corporation has filed the following document(s) with the United States Securities and Exchange Commission.

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Feb 23, 2012

Form 10-K / Annual Report

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[satjay]

Plus for the quarter if I am reading correct, I think a pleasant surprise! Good to see!

[Slamminc11]

Considering all the doom and gloom some here were predicting, yes it...I even said dish was going to be at a neg. 5000 to 20000 sub add I believe...

[DodgerKing]

Even though they had a net loss of subs for the year, I am glad to see they had a net gain during the last quarter. Ending on a high note is a good thing. Hopefully they keep up this trend and continue to grow strong.

[MikeD-C05]

Once again Revenue rose over last quarter of the last year and they only gained a net of 22,000 subs. They are still stuck under the same 14 million sub mark that they have been at for years now. They are basically putting their need for short term revenues over their need for long term growth. I say they are just trying to look very profitable to a potential buyer. They need to cut down or out some of those FEES in order to attract more subs. Then their profits would rise and their sub numbers too.

[DodgerKing]

I am beginning to think that Dish is happy with a loyal and consistent 14 million subscriber figure. It is enough for them to continue to profit without becoming to big to manage. Everything they do seems to point to keeping their base at this level. Even their advertisements seem to be just enough to bring in new subs to make up for the few that left. If you think about it, there are very few Dish commercials on TV (maybe those with Dish may see more). I see a lot more U-Verse (and I live in FiOs territory), TWC, and DirecTV commercials than Dish commercials. It seems the only company that advertises less than Dish is FiOs.

[steve4810]

Yup. They don't look like their going to padlock the front gate anytime soon. But these are perilous times for this industry. Nobody in the U.S. is going to proclaim they are the "champion concentrator of eyeballs in front of a screen" for a very long time.

But this is our gain. No fat cats with General Motors 1950s attitudes like "What's good for General Motors is good for America".

Great time for customers. Nervous time for stockholders.

[nelson61]

The 10K does a good job of explaining the competitive situation.
Growth can only come from competitors customer base (the market is not expanding).
The landline companies have a tech advantage in that they have essentially unlimited channel capacity and can be expected to eat into the base.
The companies that "own" local stations force Dish to carry their other "owned" channels, raising costs and using up bandwidth.
Programming costs continue to be the major expense.

Sure looks to have turned into a "commodity" business that will be managed to generate cash.
I can see why they are focusing on rural areas with Viasat/Hughes since the landline providers are weak in those regions.

[Scott Greczkowski]

On March 15th you won't be saying that their are not a lot of DISH commercials on TV.