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Q1 financials

Discussion in 'General DISH™ Discussion' started by harsh, May 10, 2010.

  1. harsh

    harsh Beware the Attack Basset

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    The Q1 results are up:

    237,000 net additions (DIRECTV was 100,000) :)
    $71.18 ARPU (DIRECTV $85.47) :)
    1.40% Churn (DIRECTV 1.48%) :)
    $741 SAC (DIRECTV $595) :(
     
  2. RAD

    RAD Well-Known Member

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    Dripping...
  3. harsh

    harsh Beware the Attack Basset

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    It would be interesting to compare how much licensing fees would have been.
     
  4. BattleZone

    BattleZone Hall Of Fame

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    [​IMG]

    Usually Q1 is the busiest time for everyone. Not so this year. The economy didn't help, but at least both companies are still seeing growth.
     
  5. Paul Secic

    Paul Secic Hall Of Fame

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    I still think Charlie should buy Tivo or license it.
     
  6. Stewart Vernon

    Stewart Vernon Roving Reporter Staff Member Super Moderator DBSTalk Club

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    [​IMG]

    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.

    About DISH Network
    DISH Network L.L.C., a subsidiary of DISH Network Corporation (NASDAQ: DISH), provides more than 14.3 million satellite TV customers, as of March 31, 2010, with the highest quality programming and technology at the best value, including the lowest all-digital price nationwide. Customers have access to hundreds of video and audio channels, the most HD channels, the most international channels, state-of-the-art interactive TV applications, and award-winning HD and DVR technology including 1080p Video on Demand and the ViP 722 HD DVR, a CNET and PC Magazine "Editors' Choice." DISH Network Corporation is included in the Nasdaq-100 Index (NDX) and is a Fortune 250 company. Visit www.dish.com.

    DISH Network will host its First Quarter 2010 financial results conference call today at noon ET. The dial-in number is (800) 616-6729.

    SOURCE DISH Network Corporation
    Copyright (C) 2010 PR Newswire. All rights reserved
     
  7. Bigg

    Bigg Godfather

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    I assume SAC is Subscriber Acquisition Cost? What the heck is up with that?

    Dish's DVR is two years old, DirecTV's is brand new. Dish's DVR serves two rooms in one shot, DirecTV needs two DVR's (although some cost is offset by customer fees). Dish has an easier time mounting dishes in the densely-populated (both people and trees) Northeast because of EA, they don't have all the expensive SWiM to deal with, nor Ka/Ku hybrid dishes. Plus, the DP dual-tuner diplexer thingies eliminate the need for new Coax just like DirecTV (at least on a house with halfway acceptable wiring already there). The need for OTA because of incomplete LIL's has nothing to do with this, since that's the customer's problem.
     
  8. BattleZone

    BattleZone Hall Of Fame

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    The HR24 isn't reflected in Q1 numbers at all, and the 722k isn't 2 years old yet.

    True, but Dish's receivers are more expensive.

    DirecTV's dishes only need about 7 degrees of angle with the SL3, while a 1000.2 needs over 20, and a 1000.4 needs about 17. You can get a lot more customers with a narrower window. But none of that has anything to do with SAC. SWM gear is more expensive than legacy, but not likely more than a 1000.2/1000.4 LNB, and certainly not as expensive as, say, a DPP44.


    That's largely costs borne by the installers, not by DirecTV or Dish.

    Again, most of this stuff doesn't have anything to do with SAC. SAC is:

    - advertising
    - equipment installed
    - installation labor
    - sales commissions
    - discounts and incentives

    Dish has been doing more (and better) advertising recently than they've done in the past, and their net subscriber numbers reflect that. But it isn't cheap. DirecTV has reduced their advertising and incentives, and their growth has slowed.

    All this just shows that you've got to spend money to make money, though that isn't the only factor in the equation.
     
  9. Tom Robertson

    Tom Robertson Lifetime Achiever DBSTalk Club

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    ARPU is a DIRECV win. Higher is better. (and a big win for DIRECTV.)

    Cheers,
    Tom
     
  10. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    I can't remember a quarter where DirecTV didn't have a higher ARPU. Usually it is around $10 more than DISH. With the higher base cost of service and availability of more high priced sports packages it isn't surprising they are pulling in more revenue per subscriber.

    The average net profit per subscriber would be a better comparison.
     
  11. Bigg

    Bigg Godfather

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    I'd doubt that the 722 is that expensive compared to two DirecTV boxes.


    A SWiMLine SL5 ain't cheap. The consumer price of a SWiMLine 5 is $180, the consumer price of a 1000.4 is $90.

    Wrong. In Hartford-New Haven, for example, our SD LIL's are on 119, which is 23.2 degrees above the horizon, and is spread 20 degrees horizontally from 99.

    Dish's EA, OTOH, has Rainbow 1 at 61.5 providing LIL's, which is 40.9 degrees above the horizon, and that's the lowest point of the EA. 72.5 is 42.2 degrees above the horizon, the highest of any DBS service for this DMA. I know of someone who nLOS'ed a DirecTV install, and had no issue with Dish EA. EA is virtually flat 41 degrees up (slight skew to east), and covers 15.5 degrees.

    It has to do with SAC when you're paying an installer to go out and install, and the install doesn't get done because there's nLOS, unless you throw that on the books somewhere else.


    Ok, fair enough, advertising is part of it.

    It's a different strategy. Dish probably has a lot of subs that wouldn't go to DirecTV if, in a hypothetical world, DirecTV was exactly the same as they are now, but Dish didn't exist.
     
  12. jerrylove56

    jerrylove56 Godfather

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    It has been stated before that DirecTV has deliberately aimed its marketing and products toward high-end clientele. Average customers with SD sets don’t give a hoot about who has the best HD or 3D programs or gadgets. Instead they look for pricing. So there should be no surprise that Dish gained subscribers in this economy with their aggressive discounts.

    I believe that Directs rush to get their 3D service up will not necessarily give them a large increase of subscribers. But I can smell a price/fee increase for 3D service which will become a revenue stream. Just like their MVR service fees.
     
  13. cariera

    cariera Icon

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    I would just like to say that it is amazing that both Dish and Directv have added net subs in the competitive world that is now made up of Uverse, Fios, Hulu and cut-rate cableco promos. For all the argurments over which company is better, they both must be doing something right to increase the sub base.:)
     
  14. phrelin

    phrelin Hall Of Fame DBSTalk Club

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    Well, it's an interesting quarter for Dish - higher new subscriber costs seems to correspond to more new subscribers for whatever that's worth.

    Echostar Holding's quarterly shows a decent increase in revenue explained as follows:
    It would have been more informative about the industry if the Echostar/Dish split had not occurred, IMHO.

    Both quarterlies contain the following information:

    So now 922 users particularly know who where to direct their frustration.:sure:
     
  15. ndole

    ndole Problem Solver

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  16. Tom Robertson

    Tom Robertson Lifetime Achiever DBSTalk Club

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    Indeed, I agree. Sometimes Wall Street hangs on numbers that don't seem to be as telling.
     
  17. phrelin

    phrelin Hall Of Fame DBSTalk Club

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    You have to acknowledge Charlie's willingness to engage in battle. And after all that "Dish will turn off its DVRs" and "Dish profits drop" discussion in the article we have at the end of the article without comment or explanation:
    :rolleyes:
     
  18. ShapeShifter

    ShapeShifter Godfather

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    Why should there be comments or explanation? It would appear that nobody likes good news, they only like to emphasize the negative.
     
  19. jacmyoung

    jacmyoung Hall Of Fame

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    Or the net new sub addition per quarter, or the churn rate. DISH had a few very bad quarters in 2008 and part of 2009, they now are ahead of DirecTV by a big margin. When Charlie admitted back then he had lost his focus and would try to turn the tide of sub loss, I thought it was impossible given DirecTV's consistent performance at that time, but look what is happening now.
     
  20. Bigg

    Bigg Godfather

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    Dish benefited bigtime from DirecTV's price hiking. Dish is clearly cheaper than DirecTV, Comcast, or U-Verse.

    Do we know what the saturation point for satellite is? At some point, there's only so many subs you are going to get. A large portion of the population lives in urban MDU's that don't have access to satellite, and with triple-play, cable is still competition.
     

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