DISH Network Reports First Quarter 2010 Financial Results?

[Slamminc11]

DISH Network Reports First Quarter 2010 Financial Results





ENGLEWOOD, Colo., May 10, 2010 /PRNewswire via COMTEX News Network/ -- DISH Network Corporation (Nasdaq: DISH) today reported total revenue of $3.06 billion for the quarter ended March 31, 2010, a 5.2 percent increase compared with $2.91 billion for the corresponding period in 2009.

Net income attributable to common shareholders totaled $231 million for the quarter ended March 31, 2010, compared with $313 million during the corresponding period in 2009. Basic earnings per share were $0.52 for the quarter ended March 31, 2010, compared with basic earnings per share of $0.70 during the corresponding period in 2009.

DISH Network gained approximately 237,000 net subscribers during the quarter ended March 31, 2010, ending the quarter with approximately 14.337 million subscribers.

Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarterly period ended March 31, 2010, filed today with the Securities and Exchange Commission.

 

[RandallA]

Here is the 10-Q filing:

EchoStar Communications Corporation - Quarterly Report

 

[HDRoberts]

Another quarter of added subs. Not too bad.

Interesting they even mention the TP failure last week on Echostar 3.

As a result of TWTA failures in previous years and during January and May 2010, only 12 transponders are currently available for use.

Part II, Item 1 is also interesting. It talks about all the lawsuits Dish is currently in. For those wondering about ESPNU:

ESPN
During 2008, we filed a lawsuit against ESPN, Inc., ESPN Classic, Inc., ABC Cable Networks Group, Soapnet L.L.C., and International Family Entertainment (collectively, “ESPN”) for breach of contract in New York State Supreme Court. Our complaint alleges that ESPN failed to provide us with certain high-definition feeds of the Disney Channel, ESPN News, Toon, and ABC Family. ESPN asserted a counterclaim, and then filed a motion for summary judgment, alleging that we owed approximately $35 million under the applicable affiliation agreements. We brought a motion to amend our complaint to assert that ESPN was in breach of certain most-favored-nation provisions under the applicable affiliation agreements. On April 15, 2009, the trial court granted our motion to amend the complaint, and granted, in part, ESPN’s motion on the counterclaim, finding that we are liable for some of the amount alleged to be owing but that the actual amount owing is disputed. We appealed the partial grant of ESPN’s motion to the New York trial court. After the partial grant of ESPN’s motion, ESPN sought an additional $30 million under the applicable affiliation agreements. On March 15, 2010, the trial court affirmed the prior grant of ESPN’s motion and ruled that we owe the full amount of approximately $65 million under the applicable affiliation agreement. We will appeal the court’s ruling. We intend to vigorously prosecute and defend this case. We cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages.

 

[tigerfan33]

Appeal, appeal, appeal. I wouldn't look for the U in hd for a long, long time.

 

[digiblur]

Nice to see no negative issues reported with E14.

 

[goaliebob99]

Looks like dish's advertising is working effectively. Also, with ESPN U and the whole lawsuit, SETTLE ALREADY for the sake of subs!

 

[HDRoberts]

Looks like dish's advertising is working effectively. Also, with ESPN U and the whole lawsuit, SETTLE ALREADY for the sake of subs!

I'm with Dish on this one. If ESPN really did give them most-favored-nation provisions in their contract, they should not be allowed to give better deals to others without giving it to Dish. If Dish just settles all their suits, programmers would be given a pass to do whatever they wanted.

While this would be broadcaster suicide, I do wish Dish could just drop all versions of ESPN and stop feeding to pig. It's one thing to be forced to pay $0.20-$0.30 for a few channels I don't watch, but quite another to have to pay $5 (or more) a month for a couple of ESPN channels I don't watch.

 

[stardust3]

I'm with Dish on this one. If ESPN really did give them most-favored-nation provisions in their contract, they should not be allowed to give better deals to others without giving it to Dish. If Dish just settles all their suits, programmers would be given a pass to do whatever they wanted.

While this would be broadcaster suicide, I do wish Dish could just drop all versions of ESPN and stop feeding to pig. It's one thing to be forced to pay $0.20-$0.30 for a few channels I don't watch, but quite another to have to pay $5 (or more) a month for a couple of ESPN channels I don't watch.

Excellent point. I wouldn't lose any sleep if espn were to disappear from my pkg.

 

[smokey982]

I would cancel my service all together if Dsih lost the ESPN channels

 

[Laddyboy]

I'm with Dish on this one. If ESPN really did give them most-favored-nation provisions in their contract, they should not be allowed to give better deals to others without giving it to Dish. If Dish just settles all their suits, programmers would be given a pass to do whatever they wanted.

While this would be broadcaster suicide, I do wish Dish could just drop all versions of ESPN and stop feeding to pig. It's one thing to be forced to pay $0.20-$0.30 for a few channels I don't watch, but quite another to have to pay $5 (or more) a month for a couple of ESPN channels I don't watch.

I'd be for this as I do not ever watch any ESPN channels any longer and don;t like paying the high price for them. The problem is that E* would be forced to take them if they want Disney, ABC Fam and any of the others in the same stable. I'm also in favor of E* suing to make ESPN honor most favored nation clauses. The fact a trial court has ruled for ESPN is troubling though. Maybe E* needed better lawyers when the MFN clause was negotiated in the first place.

 

[Bob Haller]

internet tv will eventually force the de bundling of channels........

 

[goaliebob99]

If espn and all of the abc series of channels were dropped, that would be suicide for dish! While you might not want it, there are plenty of others who do!

 

[harshness]

internet tv will eventually force the de bundling of channels........

I see absolutely no connection between the two. I don't even envision ESPN going to a PPV model any time soon.

What connection do you see?

 

[Cegarrett]

I don't understand Yahoo is reporting a drop in income reporting a drop in income

Am I missing something?

 

[Scott Greczkowski]

Did anyone listen to the earnings call? Was it me or was Charlie acting like he was playing a good game of poker.

He was asked about he possibility of buying Tivo and said he hadn't really thought about it. And he was asked about working a deal with Tivo and acted like there was nothing there eaither..

I have a feeling hes playing a good hand of poker behing careful not to let his cards show.

 

[dmendenjr]

I don't understand Yahoo is reporting a drop in income reporting a drop in income

Am I missing something?

Basic earnings per share were $0.52 for the quarter ended March 31, 2010, compared with basic earnings per share of $0.70 during the corresponding period in 2009.


Q1 dish stock earned less this year than last year.

 

[Stargazer]

IPTV will be a good thing. Only pay for channels you want.

 

[harshness]

Q1 dish stock earned less this year than last year.

The SAC is awfully high.

The ratios still favor DISH over DIRECTV.

 

[harshness]

IPTV will be a good thing. Only pay for channels you want.

That remains to be seen. I can't see it happening with Disney/ESPN.

 

[Scott Greczkowski]

The SAC was explained by putting MPEG4 equipment in most new customers homes.

I guess if they do it now they dont need to upgrade them in the future.