PRESS RELEASE: DISH Network Corporation Reports Third Quarter 2009 Financial Results

Slamminc11 · 11-09-09, 06:58 AM

Dish Network 3rd-quarter profit falls

ENGLEWOOD, Colo. – Dish Network Corp. said Monday third-quarter profit fell 12 percent as its subscriber base edged up.
The second-largest satellite TV provider in the U.S. says profit totaled $81 million, down from $92 million a year ago.
Revenue for the three months ended Sept. 30 edged down nearly 2 percent to $2.89 billion from $2.94 billion last year.
Dish says it gained about 241,000 net subscribers, up nearly 2 percent to 13.9 million.

http://news.yahoo.com/s/ap/20091109/...s_dish_network

BattleZone · 11-09-09, 08:16 AM

It's good to see Dish's net numbers up again...

harsh · 11-09-09, 08:19 AM

Here's the official press release: http://dish.client.shareholder.com/r...leaseID=422698

harsh · 11-09-09, 08:25 AM

Quote:

Originally Posted by BattleZone

It's good to see Dish's net numbers up again...

It is baffling to me that during the period that DIRECTV is making their best NFL ST package offers, that DISH Network managed to beat them so handily in net adds.

Also surprising is that DIRECTV made such a big deal about all of the AT&T customers that they presumably stole from DISH.

**Jason Nipp** · 11-09-09, 09:55 AM

DISH NETWORK CORPORATION REPORTS

THIRD QUARTER 2009 FINANCIAL RESULTS

ENGLEWOOD, Colo., Nov. 9, 2009 – DISH Network Corporation (NASDAQ: DISH) today reported total revenue of $2.892 billion for the quarter ended Sept. 30, 2009, a 1.5 percent decrease compared with $2.937 billion for the corresponding period in 2008.
Net income attributable to common shareholders totaled $81 million for the quarter ended Sept. 30, 2009, compared with $92 million during the corresponding period in 2008. Basic earnings per share were $0.18 for the quarter ended Sept. 30, 2009, compared with basic earnings per share of $0.20 during the corresponding period in 2008.
DISH Network gained approximately 241,000 net subscribers during the quarter ended Sept. 30, 2009, ending the quarter with approximately 13.851 million subscribers.
Detailed financial data and other information are available in DISH Network’s Form 10-Q for the quarterly period ended Sept. 30, 2009, filed today with the Securities and Exchange Commission.
DISH Network will host its Third Quarter 2009 financial results conference call today at noon ET. The dial-in number is (800) 616-6729.

One-Time Dividend
On Nov. 6, 2009, DISH Network Corporation’s Board of Directors declared a one-time dividend of $2.00 per share on outstanding Class A and Class B common stock. The dividend will be payable in cash on Dec. 2, 2009, to shareholders of record on Nov. 20, 2009.

# # #

About DISH Network Corporation
DISH Network Corporation (NASDAQ: DISH), the nation’s HD leader, provides approximately 13.851 million satellite TV customers as of Sept. 30, 2009, 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 is included in the Nasdaq-100 Index (NDX) and is a Fortune 250 company. Visit www.dishnetwork.com.

**Richard King** · 11-10-09, 07:11 AM

Nice dividend. Charlie did this a few years back also, declaring a $1.00 special dividend. I have to say that the guy is still full of surprises. I wonder what he needed the $$$ for.

This provides a way for him to diversify his investments without changing his ownership percentage.

RAD · 11-10-09, 07:46 AM

Quote:

Originally Posted by Richard King

Nice dividend. Charlie did this a few years back also, declaring a $1.00 special dividend. I have to say that the guy is still full of surprises. I wonder what he needed the $$$ for.

This provides a way for him to diversify his investments without changing his ownership percentage.

Sounds like the special divident wasn't something Charlie wanted to do. From http://www.multichannel.com/article/...hes_It_Out.php

"Ergen didn't seem too impressed with his decision to issue a $2 per share cash one-time special dividend to shareholders, adding that it wasn't his top choice and was driven mainly by the expiration of more favorable tax policies.
"For a lot of our investors, this is the lowest tax they might pay for a dividend for a long, long time," Ergen said. But later he added that while he would have preferred to spend the money internally to grow the business, a number of factors - the tax issue, the overhang on the stock from its ongoing TiVo litigation and its second-place finish to Liberty Media in the Sirius XM Satellite Radio deal - forced his hand."

GrumpyBear · 11-10-09, 08:49 AM

Quote:

Originally Posted by harsh

It is baffling to me that during the period that DIRECTV is making their best NFL ST package offers, that DISH Network managed to beat them so handily in net adds.

Also surprising is that DIRECTV made such a big deal about all of the AT&T customers that they presumably stole from DISH.

It wasn't that great of a Deal. I know of Several Cable friends that almost jumped on this, they are TimeWarner customers and looking to leave.
When you called or even went online and Priced out that DirectTV NFL offer, it ended up being over $100 for a 65 dollar package.
What Really turned them off, was best package, but they had add extra dollars for HD, extra dollars to get all the HD channels and extra for Sunday Ticket as you need Sunday ticket to see the games in HD.

phrelin · 11-10-09, 01:01 PM

Several things about this report:

Dish Network's cash position is substantially better, but it is all borrowed money. (The dividend likely is to come from this money which may be why Charlie wasn't too keen on this.)
The number of subscribers is actually slightly higher than March of 2008, 36,000 subscribers or 0.26%, which means Dish has recovered its subscriber losses.
Subscriber related expenses are higher which they attribute to a variety of things but particularly to HD conversion associated with the Eastern Arc, which should stablize and relates to the next item.
The inventory (most likely DVR and receiver boxes) is down substantially. This is hard interpret, but Echostar's quarterly shows that it's Equipment Revenue from Dish Network is down 26% ($295,443,000 less) compared to 2008.

It was an improvement which is remarkable in this economy.

spaceman1202 · 11-10-09, 01:12 PM

Quote:

Originally Posted by harsh

It is baffling to me that during the period that DIRECTV is making their best NFL ST package offers, that DISH Network managed to beat them so handily in net adds.

Also surprising is that DIRECTV made such a big deal about all of the AT&T customers that they presumably stole from DISH.

Yeah. That is interested that Dish beats them out during their great NFL package deal.

Jhon69 · 11-10-09, 10:25 PM

I think Dish's numbers will be even better next quarter.

Hound · 11-11-09, 06:23 AM

Back on top. Some people do not care about mlb.
Congratulations E*.
1.E* 241,000
2. ATT. 240,000
3. Verizon 191,000
4. D* 136,000
5. Time Warner. -25,000
6. Cablevision. -46,200
7. Charter. -46,500
8. Comcast. -132,000