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2005 Storms Cost D* $24 Million
Posted 14 March 2006 - 05:00 AM
DirecTV revealed in a Securities and Exchange Commission
filing that the damage caused by the onslaught of hurricanes
impacting the Gulf Coast last year cost the company millions.
Hurricanes Katrina, Wilma and Rita forced DirecTV to record
about $24 million in charges during 2005, the company said in
the SEC filing. The charges covered work related to a higher
level of service calls resulting from the storms, a reduction
in revenues for subscriber service credits and an increase in
bad debt expense.
About 10,000 subscribers were disconnected in 2005 as a result
of the hurricanes, the company said.
www.SkyReport.com - used with permission
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Posted 14 March 2006 - 08:45 PM