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DISH Network Reports Year End 2012 Financial Results


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#1 OFFLINE   Slamminc11

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Posted 20 February 2013 - 05:55 AM

DISH Network Reports Year End 2012 Financial Results

• 2012 gross new pay-TV subscriber additions increase 6.3 percent relative to 2011
• Pay-TV churn decreases to 1.57 percent in 2012 from 1.63 percent in 2011
• Full-year net income of $637 million impacted by legal settlement, increased programming costs

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- DISH Network Corporation (NASDAQ: DISH) today reported 2012 total revenue of $14.27 billion compared to $14.05 billion in 2011, an increase of 1.6 percent. Net income attributable to DISH Network in 2012 was $637 million compared to $1.52 billion in 2011. Diluted earnings per share were $1.41 in 2012, compared with $3.39 in 2011.

Total revenue for the fourth quarter 2012 was $3.59 billion, compared to revenues of $3.63 billion in the year-ago quarter. Net income attributable to the fourth quarter was $209 million compared to $313 million in the fourth quarter of 2011.

The decrease in the full-year net income was due to higher subscriber-related expenses driven by programming costs, increased subscriber acquisition costs from higher gross additions, as well as certain one-time items, including the Voom litigation settlement expense. Additionally, the decrease in year-over-year net income was affected by the 2011 reversal of accrued expenses related to the company's TiVo litigation.

"In addition to the landmark introductions of our Hopper Whole-Home HD DVR, the successful launch of dishNET and the developments with our wireless spectrum, one of our key stories of the year was the change in our customer trajectory," said Joseph P. Clayton, DISH president and CEO. "During 2012, DISH added about 89,000 net pay-TV subscribers after having lost approximately 166,000 net pay-TV subscribers in 2011."

For the full year, DISH added about 2.739 million gross new pay-TV subscriber activations compared to 2.576 million gross new pay-TV subscriber activations in 2011. The company added about 14,000 net new pay-TV subscribers in the fourth quarter of 2012. DISH ended 2012 with 14.056 million pay-TV subscribers compared to 13.967 million total subscribers in 2011.

Pay-TV subscriber churn rate for 2012 decreased to 1.57 percent, an improvement over the 1.63 percent rate in 2011.

DISH also added about 78,000 net broadband subscribers in 2012, compared to a loss of approximately 5,000 subscribers in 2011.

Detailed financial data and other information are available in DISH Network's Form 10-K for the year ended Dec. 31, 2012, filed today with the Securities and Exchange Commission.

DISH Network will host its fourth quarter and full-year 2012 financial results conference call today at noon ET. The dial-in number is (800) 616-6729.

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#2 OFFLINE   RAD

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Posted 25 February 2013 - 09:40 AM

Gee, I would have thought there would have been some discussion here about the numbers. Almost a full year of having the Hopper out there with PTAT and commercial skipping and DIRECTV US still added more subs in 2012 then Dish did.

So what will it take for DISH to overtake DIRECTV? Pricing doesn't appear to be the answer and folks though Hopper would do it but they're still lagging behind.

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#3 OFFLINE   damondlt

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Posted 25 February 2013 - 09:49 AM

Gee, I would have thought there would have been some discussion here about the numbers. Almost a full year of having the Hopper out there with PTAT and commercial skipping and DIRECTV US still added more subs in 2012 then Dish did.

So what will it take for DISH to overtake DIRECTV? Pricing doesn't appear to be the answer and folks though Hopper would do it but they're still lagging behind.


Yea, I can't believe this was swept under the rug here.

5 days and only 2 posts, And Directv Subs at that?

What the heck?

Satellite Guys this Quiet?:)

Edited by damondlt, 25 February 2013 - 09:55 AM.

DIRECTV Since 5/13/2012:

    Living room      Master Bedroom        Bedroom 2            Bedroom 3       Office/Bedroom 4      

HR34-700  /  C31-700  /  HR24-500 / HR23-700  /  H25-100 

Slimline 5 / SWiM 16 / Premier / HD Xtra / MLB EI  / MRV

Blue Ridge Cable Networked 30-3 Mbps 

 

 

 


#4 OFFLINE   harsh

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Posted 25 February 2013 - 11:00 AM

DISH didn't get front page coverage (perhaps a DBSTalk bias) so it passed without notice.

The fact that the numbers weren't bad means the DIRECTV people don't want to discuss it and the fact that they weren't stellar has probably muted the DISH followers.

I think both companies realized some relative highlights (low churn and lower gross adds). DIRECTV US's ARPU had to make the shareholders ecstatic.

The downsides are that DISH should have done better in the profit department and DIRECTV may be enticed to invest a greater share of resources in the DIRECTVLA operation because they're "printing money" there.

Too often we enjoy the comfort of opinion without the discomfort of thought. -- JFK


#5 OFFLINE   lparsons21

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Posted 25 February 2013 - 11:11 AM

I saw it as positive news for Dish, but nothing stellar.

As to catching up or surpassing DirecTV? Well, I suppose some care about that but as a subscriber I certainly don't. Which one is bigger isn't on my list of things to consider as a subscriber.

Lloyd
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#6 OFFLINE   Stewart Vernon

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Posted 25 February 2013 - 01:26 PM

Didn't seem like major news (good or bad) to me... that's probably why not many have anything to say.

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#7 OFFLINE   Rickt1962

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Posted 25 February 2013 - 01:53 PM

I didnt know people still used Dish :rolleyes:

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#8 OFFLINE   phrelin

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Posted 26 February 2013 - 12:52 AM

From a financial standpoint it was ... yawn. Mixed, not good, not bad.

So Charlie and CEO Joe Clayton used the Conference Call and other interviews to focus on the Disney/ESPN dispute, the possible moves into the broadband market, the Hopper technology and lawsuits, etc. It all made for interesting reading, but it isn't hard accounting information.

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#9 OFFLINE   ladyharley

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Posted 26 February 2013 - 03:00 PM

I did my part with the fee increase. I cancelled.

#10 OFFLINE   Slamminc11

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Posted 26 February 2013 - 06:17 PM

I did my part with the fee increase. I cancelled.


umm, ok...




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