DISH Network Reports Third Quarter 2010 Financial Results

[Slamminc11]

DISH Network Reports Third Quarter 2010 Financial Results





ENGLEWOOD, Colo., Nov. 5, 2010 /PRNewswire-FirstCall/ -- DISH Network Corporation (Nasdaq: DISH) today reported total revenue of $3.21 billion for the quarter ended September 30, 2010, a 10.9 percent increase compared with $2.89 billion for the corresponding period in 2009.

(Logo: http://www.newscom.com/cgi-bin/prnh/20100611/LA19624LOGO)

Net income attributable to common shareholders totaled $245 million for the quarter ended September 30, 2010, compared with $81 million during the corresponding period in 2009. Basic earnings per share were $0.55 for the quarter ended September 30, 2010, compared with basic earnings per share of $0.18 during the corresponding period in 2009.

DISH Network lost approximately 29,000 net subscribers during the quarter ended September 30, 2010, ending the quarter with approximately 14.289 million subscribers.

Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarterly period ended September 30, 2010, filed today with the Securities and Exchange Commission.

DISH Network will host its Third Quarter 2010 financial results conference call today at noon EDT. 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 14.2 million satellite TV customers, as of September 30, 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 including the ViP 922, the world's only DVR with built-in Sling functionality. DISH Network Corporation is included in the Nasdaq-100 Index (NDX) and is a Fortune 200 company. Visit DISH Satellite TV - $24.99 & HD Free For Life - Let's Watch TV.

SOURCE DISH Network Corporation

 

[Slamminc11]

Well, I guess the two price increases didn't have the desire effect all the nay-says said it would. This was the quarter that Dish was supposed to lose hundreds of thousands of subs (ie the bobs thousands of posts) because of the receiver charges increase...if that didn't have as big of an effect, then my guess is that FSN's being down for a few weeks won't have the mass drop effect either.

 

[skyviewmark]

Let's See... $245 Mill versus $81 Mill over the same period.. Loss of 29,000 net sub... Guess those extra receiver fees must be paying off...

 

[Scott Greczkowski]

The third quarter is where most of the new receiver fees hit.

I am surprised at the loss as I expected it to be higher to be honest with you.

 

[Juan]

I was expecting 100k.. I guess we wont see the affect of the fox sports channel mess till the 4th quarter

 

[bobvick]

Let's See... $245 Mill versus $81 Mill over the same period.. Loss of 29,000 net sub... Guess those extra receiver fees must be paying off...

I thought exactly the same thing when I read the release. Not to mention, if you have a 922 that is $4 extra per sub and if you happen to have GoogleTV on top of that, its another $4.00. Good way to make more and loose subs at the same time.

 

[skyviewmark]

The third quarter is where most of the new receiver fees hit.

I am surprised at the loss as I expected it to be higher to be honest with you.

What loss.. Looks like a net gain of $164 Mill to me.. Why should they care about sub loss if they have that kind of profit increase..

 

[DodgerKing]

Well, I guess the two price increases didn't have the desire effect all the nay-says said it would. This was the quarter that Dish was supposed to lose hundreds of thousands of subs (ie the bobs thousands of posts) because of the receiver charges increase...if that didn't have as big of an effect, then my guess is that FSN's being down for a few weeks won't have the mass drop effect either.

Lets see. Direct adds 170,000 net subs, Dish loses 29,000 net subs (the second quarter in a row of sub losses), and you conclude that receivers fees did not have a big effect because they did not lose as much as OTHERS on this forum thought they would? Should they not have been adding subs instead of losing subs for 2 consecutive quarters (and it WILL be 3 consecutive when the next report comes out)?

 

[DodgerKing]

What loss.. Looks like a net gain of $164 Mill to me.. Why should they care about sub loss if they have that kind of profit increase..

Eventually you will lose too many to make a profit off of.

 

[WayneG]

Are Echostar's numbers included here or are they reported separately? Also, does DIRECTV have a similar hardware company like Echostar or are they one big company?

 

[Yespage]

Wow... people really are interested in their quarterly reports! Who bloody cares... I mean other than shareholders? If Dish works for you (need one or two receivers, not too big into sports, love movies), get Dish. If Directv works for you (need an armory of receivers, love sports), get Directv.

Why with these petty online wars? Dish's fees or costs are not uncompetitive. Deal with it! So much needless energy is wasted by people whining over these minor little things.

 

[Roxor]

So, raising fees brought in an extra $164,000,000.00 profit for 3 months while losing subscribers no less!? Greed is good. Hey, Dish raise my fees once again so you can make up the difference of losing those idiots who dropped Dish last quarter. I am willing to pay at least another $20.00 a month so I can get more "free" stuff from you and help you during these tough economic times. Just think how much money you'll have for your greedy shareholders once the economy improves. How about trying for $1,000,000,000.00 profit for the next fiscal year.

 

[harshness]

...then my guess is that FSN's being down for a few weeks won't have the mass drop effect either.

The FSNs (and other Fox properties) weren't down in Q3. The channels went dark on October 1st and lit back up on October 29th. Any impact from the Fox spat will likely show up in Q4 or later.

 

[goaliebob99]

They ended up hitting at the very end. Sub loss for the 4th quarter is going to be bad. It was the 4th Q when I canceled.

 

[Juan]

They ended up hitting at the very end. Sub loss for the 4th quarter is going to be bad. It was the 4th Q when I canceled.

actually u quitting should HELP dish network not hurt it

 

[larry55]

wait for the 4 quarter results that when e will take a big hit.

 

[bobvick]

Are Echostar's numbers included here or are they reported separately? Also, does DIRECTV have a similar hardware company like Echostar or are they one big company?

Echostar and Dish Network are two seperate companies, with an arms length reach, since Charlie is at the helm of both. As far as I know DirecTV does not actually manufacure any hardware, they have different vendors to produce their line of products.

 

[WayneG]

Thanks bobvick!

 

[lparsons21]

Eventually you will lose too many to make a profit off of.

That is true, but at the rate they are going, if nothing changes, it will take a very long time for that to happen.

 

[lparsons21]

wait for the 4 quarter results that when e will take a big hit.

And when that prediction doesn't come true, like the last one over the equipment fees didn't, which quarter will you pick then?