DISH Network Reports Fourth Quarter and Year End 2010 Financial Results

[Slamminc11]

DISH Network Reports Fourth Quarter and Year End 2010 Financial Results





ENGLEWOOD, Colo., Feb. 24, 2011 /PRNewswire/ -- DISH Network Corporation (Nasdaq: DISH) today reported total revenue of $3.21 billion for the quarter ended Dec. 31, 2010, an 8.2 percent increase compared with $2.96 billion for the corresponding period in 2009.

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Net income attributable to common shareholders totaled $252 million for the quarter ended Dec. 31, 2010, compared with $179 million during the corresponding period in 2009. Diluted earnings per share were $0.56 for the quarter ended Dec. 31, 2010, compared with $0.40 during the corresponding period in 2009.

For the year ended Dec. 31, 2010, DISH Network reported total revenue of $12.64 billion compared with $11.66 billion for the year ended Dec. 31, 2009, an increase of 8.4 percent. DISH Network's net income attributable to common shareholders for the year ended Dec. 31, 2010, totaled $985 million, compared with $636 million for the year ended Dec. 31, 2009. Diluted earnings per share were $2.20 for the year ended Dec. 31, 2010, compared with $1.42 during the corresponding period in 2009.

DISH Network lost approximately 156,000 net subscribers during the quarter ended Dec. 31, 2010, giving the company approximately 14.133 million subscribers at year-end. The number of net subscribers gained for the full year ended Dec. 31, 2010, was approximately 33,000.

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

DISH Network will host its fourth quarter and year-end 2010 financial results conference call today at noon ET. The dial-in number is (800) 616-6729.

About DISH Network

DISH Network Corporation (NASDAQ: DISH), through its subsidiary DISH Network L.L.C., provides more than 14.1 million satellite TV customers, as of Dec. 31, 2010, with the highest quality programming and technology at the best value, including HD Free for Life. Subscribers enjoy industry-leading customer satisfaction, the largest high definition line-up with more than 200 national HD channels, the most international channels, and award-winning HD and DVR technology. DISH Network Corporation is a Fortune 200 company. Visit www.dish.com.


SOURCE DISH Network Corporation

 

[Scott Greczkowski]

DISH Network lost approximately 156,000 net subscribers during the quarter ended Dec. 31, 2010

Ouch! That's got to sting!

 

[skyviewmark]

But profits are up... Thank god for $17.00 Dual DVR fees..

 

[Tampa8]

So they actually gained 189,000 prior to the last quarter? Then lost 156,000 in the last quarter for a net gain for the year of 33,000?

 

[convem24]

What is going on at Dish? I saw that in the indirect sales area (ie not sold directly by dish) they are back in Costco. Directv must have not performed as well as they would have liked.

 

[Juan]

I wonder why they don't mix in their "Dish mexico" results (like other compaNIES DO)

 

[jerryez]

I see Direct added 289,000 subscribers in the fourth Qtr 2010. So, Dish cannot blame it on the economy. We know where 156,000 of them came from.

 

[Juan]

I see Direct added 289,000 subscribers in the fourth Qtr 2010. So, Dish cannot blame it on the economy. We know where 156,000 of them came from.

actually we don't..most of those came for the Ticket

 

[KAB]

Ouch! That's got to sting!
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I think the the 73 Million year to year net revenue increase probably eased the pain.

 

[Scott Greczkowski]

I wonder why they don't mix in their "Dish mexico" results (like other compaNIES DO)

DISH Mexico is an Echostar company, not a DISH Network company.

 

[Scott Greczkowski]

I see Direct added 289,000 subscribers in the fourth Qtr 2010. So, Dish cannot blame it on the economy. We know where 156,000 of them came from.

Remember those number include DIRECTV Latin America customers as well where they have been having a amazing growth spurt over the last year.

 

[Juan]

DISH Mexico is an Echostar company, not a DISH Network company.

u should put stickey up explaining who owns what in E*/Dishnetwork land

 

[digiblur]

A little info about some recent issues...

EchoStar VII. EchoStar VII, which is being used as an in-orbit spare, was designed with four gyros, of which three are required to properly control the positioning of the satellite. During October 2010, EchoStar VII experienced an anomaly which caused one of its gyros to temporarily stop functioning. Testing during December 2010 confirmed that this gyro is functioning again. In addition, during July 2010, EchoStar VII experienced a thruster anomaly. Thrusters control spacecraft location and maintain spacecraft pointing. While these anomalies did not reduce the estimated useful life of the satellite to less than 12 years or impact commercial operation of the satellite, there can be no assurance that future anomalies will not reduce its useful life or impact its commercial operation.



EchoStar X . EchoStar X was designed with 49 spot beams which use up to 42 active 140 watt traveling wave tube amplifiers (“TWTAs”) and 24 solar array circuits, of which approximately 22 are required to assure full power for the original minimum 12-year useful life of the satellite. During May and September of 2010, EchoStar X experienced anomalies which affected seven solar array circuits reducing the number of functional solar array circuits to 17. While these anomalies did not reduce the estimated useful life of the satellite to less than 12 years or impact commercial operation of the satellite based on the satellite’s current configuration, there can be no assurance that future anomalies will not reduce its useful life or impact its commercial operation.



Leased Satellites



EchoStar VI. EchoStar VI was designed with 108 solar array strings, of which approximately 102 are required to assure full power availability for the original minimum 12-year useful life of the satellite. During March and August of 2010, EchoStar VI experienced anomalies resulting in the loss of 24 solar array strings, reducing the number of functional solar array strings to 84. While these anomalies did not reduce the estimated useful life of the satellite to less than 12 years, commercial operation has been impacted and there can be no assurance that future anomalies will not reduce its useful life or further impact its commercial operation. The satellite was designed to operate 32 DBS transponders in CONUS at approximately 125 watts per channel, switchable to 16 DBS transponders operating at approximately 250 watts per channel. The power reduction resulting from the solar array failures currently limits us to operating 24 DBS transponders in CONUS at approximately 125 watts per channel, switchable to 12 DBS transponders operating at approximately 250 watts per channel. The number of transponders to which power can be provided is expected to decline in the future at the rate of approximately one transponder every three years.



EchoStar VIII . EchoStar VIII was designed to operate 32 DBS transponders in CONUS at approximately 120 watts per channel, switchable to 16 DBS transponders operating at approximately 240 watts per channel. EchoStar VIII was also designed with spot-beam technology. This satellite has experienced several anomalies prior to 2011, but none have reduced its useful life or impacted its commercial operation. During January 2011, the satellite experienced an anomaly, which temporarily disrupted electrical power to some components causing an interruption of broadcast service. Testing is being performed to determine if this anomaly will reduce the satellite’s useful life or impact its commercial operations. There can be no assurance that this anomaly or any future anomalies will not reduce its useful life or impact its commercial operation.

 

[bgoody75]

I was one of the 150,000 that left!! Dierct tv is way better and love all the 3d they have! i miss the dish layout and how fast it is... Direct seems to take a little longer when i change channels...

 

[DodgerKing]

I think the the 73 Million year to year net revenue increase probably eased the pain.

Not when you are losing customers that help provide those profits.

 

[yaz96]

Not when you are losing customers that help provide those profits.

When you see the world from behind Dish-colored glasses, it's a whole different reality......

 

[KAB]

Not when you are losing customers that help provide those profits.

Ummm, they did it without them.

 

[Hemi 6.1]

Hey Scott, D* added

DIRECTV Adds 667,000 Net New Subscribers in Q4

289,000 was 4th Quarter results for American Subscribers NOT including Directv Latino.

 

[DodgerKing]

Ummm, they did it without them.

Using that same logic, they will still profit if they lost all of their subs?

Eventually the will meet the max loss allowed to continue to profit if they keep losing subs. Look at it like a bell shape curve.

Also remember that when they do not sign up as many subscribers they do not have the added cost installation and equipment (which eats into their profits). New subs cost these companies. It takes a while before they can profit off of them. This too will have a max to where the profits they no longer collect from existing subs that leave do not match that in which they save from not signing up new subs

 

[Hemi 6.1]

Yep, And thats why your bill keeps going up more times a year then anyother other provider.

Charlie won't take a loss, He'll just empty your pockets more and more and Fight with every network on earth.

If your not adding subscribers, then their is really no excuse for anything.

As customers of dish, I really don't see why you would try and Bragg about their profits being up, while they are losing customers and the exsiting customer has nothing but a number of Price increases to pick up the slack.

Yea thats just the company I would be defending.