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DISH Network Reports Fourth Quarter and Year End 2011 Financial Results


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#1 OFFLINE   Stewart Vernon

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Posted 23 February 2012 - 05:17 AM

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DISH Network Reports Fourth Quarter and Year End 2011 Financial Results
In Fourth Quarter, DISH Network Revenues Grow by 13 Percent to $3.63 Billion and Net Income Increases 24 Percent to $313 Million


ENGLEWOOD, CO -- (MARKET WIRE) -- 02/23/12 -- DISH Network Corporation (NASDAQ: DISH) today reported total revenue of $3.63 billion for the quarter ended Dec. 31, 2011, a 13 percent increase compared with $3.21 billion for the corresponding period in 2010.
"DISH delivered a quarter and a year of strong growth in net income and total revenue compared to the same period last year," said Joe Clayton, president and CEO of DISH Network. "By introducing new Blockbuster-branded services, we've begun to turn the tide in subscriber losses while continuing to face increased competitive pressures. We look forward to the introduction of our new Hopper™ product this quarter, the most technically advanced whole-home HD DVR in the world."

Net income attributable to DISH Network totaled $313 million for the quarter ended Dec. 31, 2011, compared with $252 million during the corresponding period in 2010. Diluted earnings per share were $0.70 for the quarter ended Dec. 31, 2011, compared with $0.56 during the corresponding period in 2010.

For the year ended Dec. 31, 2011, DISH Network reported total revenue of $14.05 billion compared with $12.64 billion for the year ended Dec. 31, 2010, an increase of 11 percent. Net income attributable to DISH Network for the year ended Dec. 31, 2011, totaled $1.52 billion, compared with $985 million for the year ended Dec. 31, 2010. Diluted earnings per share were $3.39 for the year ended Dec. 31, 2011, compared with $2.20 during the corresponding period in 2010.

DISH Network gained approximately 22,000 net subscribers during the quarter ended Dec. 31, 2011, giving the company approximately 13.967 million subscribers at year-end. DISH Network's net subscribers decreased by approximately 166,000 for the full year ended Dec. 31, 2011.
Detailed financial data and other information are available in DISH Network's Form 10-K for the annual period ended Dec. 31, 2011, filed today with the Securities and Exchange Commission.

DISH Network will host its fourth quarter and year-end 2011 financial results conference call today at 9:30 a.m. 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 13.967 million satellite TV customers, as of Dec. 31, 2011, with the highest quality programming and technology at the best value, including HD Free for Life. Subscribers enjoy 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.

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#2 Guest_MLB_Fan_*

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Posted 23 February 2012 - 07:50 AM

Even though they had a net loss of subs for the year, I am glad to see they had a net gain during the last quarter. Ending on a high note is a good thing. Hopefully they keep up this trend and continue to grow strong.

#3 OFFLINE   scorpion43

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Posted 23 February 2012 - 10:33 AM

i think with the new MVR they will gain customers from directv

#4 OFFLINE   harsh

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Posted 23 February 2012 - 11:53 AM

Some pretty good looking financial numbers compared to last year.

Pity the fools that were predicting a quarterly net loss in subscribers.

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#5 OFFLINE   DodgerKing

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Posted 23 February 2012 - 11:57 AM

i think with the new MVR they will gain customers from directv

I don't think it will be that significant if they do.

First, few people use MRV.

Second, each MRV service has some features that are better than the other but nothing that will really convince people to switch from one to the other.

Third, with DirecTV you can simply add MRV to your existing equipment.

#6 OFFLINE   DodgerKing

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Posted 23 February 2012 - 11:58 AM

Some pretty good looking financial numbers compared to last year.

Pity the fools that were predicting a quarterly net loss in subscribers.


Interesting to see you give a different tone in this thread. Actually, it is not all that surprising that you would.

With that said, let me restate what I said earlier, "Even though they had a net loss of subs for the year, I am glad to see they had a net gain during the last quarter. Ending on a high note is a good thing. Hopefully they keep up this trend and continue to grow strong."

#7 OFFLINE   n-spring

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Posted 23 February 2012 - 02:51 PM

i think with the new MVR they will gain customers from directv


I'm very seriously considering switching from DirecTV to Dish once Hopper & Joey become available.
DISH subscriber since March 2012
1000.2 HD dish antenna with Solo Node
Living room: XiP813 Hopper (S238) to Visio XVT553SV via HDMI; connected to 100Base-TX LAN
Home theatre: XiP110 Joey (S286) to Anthem Statement D2 via HDMI, then to Panasonic TC-P65VT50 via HDMI
Bedroom: XiP110 Joey (S286) to Sony KDL-26M3000 via HDMI
Internet access: Comcast 10Mb/s; Dynamic IP; NAT on Linksys E3200 router

#8 OFFLINE   phrelin

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Posted 23 February 2012 - 03:33 PM

It was a positive looking P&L.

In a quick look at the Balance Sheet, I noticed a substantial increase in current assets less current liabilities, but that is a result of a huge jump in long-term debt. Dish issued $2 billion in 6.75% debt on May 5 with interest payments made in December and June. So the P&L reflected only half a year's interest. Still, a full year of interest would not have altered the net income significantly.

Overall the annual statement reflects a substantial investment in the future with significant risk. It's fairly clear why Dish bought the assets of a bankrupt Blockbuster.

But its investment in spectrum is the great unknown. Dish acquired DBSD North America and TerreStar Networks for their 2GHz spectrum related to mobile-satellite service which, subject to regulatory approval, added to its still unused 700 MHz wireless licenses purchased in 2008 along with the 2010 purchase of South.com for its multichannel video and data distribution service spectrum.

In the business analysis community there's a great deal of speculation on the spectrum acquisitions.

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#9 OFFLINE   James Long

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Posted 23 February 2012 - 04:57 PM

Gaining net subscribers is good for bragging rights, but as long as subscriber losses are not causing profit losses losing net customers isn't the worst thing in the world.

As the joke goes: When people leave it just provides more signal for the rest of us. :)


Depending on what offers are made (especially to existing customers) the release of Hopper & Joey will likely cause a short term loss as DISH basically pays for upgrades without gaining customers. The new customers DISH adds every quarter that come from cable and DirecTV might increase due to the new product line and continued HD growth (although more HD growth is needed). We won't see the initial impact until July or August, when 2nd Quarter results are posted.

#10 OFFLINE   SeaBeagle

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Posted 24 February 2012 - 12:30 AM

Even though they had a net loss of subs for the year, I am glad to see they had a net gain during the last quarter. Ending on a high note is a good thing. Hopefully they keep up this trend and continue to grow strong.


I agree with the above. I do not mind a company like DISH making a great profit because they provide a great entertainment format.

Plus the profits go towards great 24 hour customer service and the inventing of new ideas for their compnis.




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