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DISH Network Reports Third Quarter 2010 Financial Results

Discussion in 'General DISH™ Discussion' started by James Long, Nov 5, 2010.

  1. Nov 5, 2010 #1 of 48
    James Long

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

    Apr 17, 2003
    ENGLEWOOD, Colo., Nov. 5, 2010 /PRNewswire-FirstCall/ -- DISH Network Corporation (Nasdaq: DISH) today reported total revenue of $3.21 billion for the quarter ended September 30, 2010, a 10.9 percent increase compared with $2.89 billion for the corresponding period in 2009.

    Net income attributable to common shareholders totaled $245 million for the quarter ended September 30, 2010, compared with $81 million during the corresponding period in 2009. Basic earnings per share were $0.55 for the quarter ended September 30, 2010, compared with basic earnings per share of $0.18 during the corresponding period in 2009.

    DISH Network lost approximately 29,000 net subscribers during the quarter ended September 30, 2010, ending the quarter with approximately 14.289 million subscribers.

    Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarterly period ended September 30, 2010, filed today with the Securities and Exchange Commission.

    Link to 10-Q ... (available now)
  2. Nov 5, 2010 #2 of 48

    Justin23 Hall Of Fame

    Jan 10, 2008
    This was quite a big jump...

    "Our average monthly subscriber churn rate for the three months ended September 30, 2010 was 1.98%, compared to 1.57% for the same period in 2009."
  3. Nov 5, 2010 #3 of 48

    boba Hall Of Fame

    May 23, 2003
    Lost on total customers but look how much more we paid them in monthly charges. Rape Rape Rape ???
  4. Nov 5, 2010 #4 of 48
    James Long

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

    Apr 17, 2003
    DISH's comment on churn:
    BTW: Over the last 9 months DISH has made more profit than in all of 2009. Over the past four quarters DISH has added a net 438k subscribers (compared to DirecTV's net addition of 493k subscribers). A net loss of subscribers for a quarter or two is never good ... hopefully they will be able to pull out of the subscriber slump this quarter ... but DISH remains a profitable company.
  5. Nov 5, 2010 #5 of 48

    DodgerKing Hall Of Fame

    Apr 28, 2008
    I told you they will lose subs and next quarter WILL be worse than this quarter, making 3 consecutive quarters with a net loss in subs. To keep things in perspective, many providers lost subs this quarter. Direct is about the only provider that did gain and has yet to have a net loss quarter in many years
  6. Nov 5, 2010 #6 of 48
    James Long

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

    Apr 17, 2003
    I wonder how many are people and how many are “commercial equivalent viewing units”.
  7. Nov 5, 2010 #7 of 48

    RAD Well-Known Member

    Aug 5, 2002
    Not a financial wizard and don't know where this is in the 10-Q, bottom line what was the profit(loss) for this quarter vs. prior vs. same quarter 2009?
  8. Nov 5, 2010 #8 of 48

    DodgerKing Hall Of Fame

    Apr 28, 2008
    Is dish's commercial market even that significant? I am curious. I honestly do not know. Anecdotally it seems like all bars, sports bars, and restaurants have Direct, and most hotels, and other offices use local cable. I do not think I have ever seen a commercial place with Dish.
  9. Nov 5, 2010 #9 of 48

    Hoosier205 Active Member

    Sep 3, 2007
    Here is a key statement straight from the source:

  10. James Long

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

    Apr 17, 2003
    3Q 09 wasn't very good. Only $80 million "Net income (loss) attributable to DISH Network common shareholders". 4Q 10 was $244 million.

    That is part of the problem DirecTV includes "commercial equivalent viewing units" in their subscriber count but does not reveal how that number is calculated. DISH reveals how they add commercial subscriptions to their count and note that the calculation undercounts the actual number of commercial units (DISH takes the revenue from commercial accounts and divides it by the retail price of AT120, with some adjustments). If DirecTV is doing the same then commercial sales of sports packages Sunday Ticket could be adding to the subscriber count when in reality it is just more revenue per real account.
  11. James Long

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

    Apr 17, 2003
    Not any more key than the "our satellites could fail at any time" language that is common "worst case scenario" notes in a SEC filing. These things are written by Chicken Little. :)
  12. rocatman

    rocatman Icon

    Nov 27, 2003
    A small tidbit of information in the quarterly report states that the E-16 satellite will be launched in the second half of 2012. There have been reports on other websites of Dish having an agreement with Sea Launch for a launch so E-16 could end up on a Zenit launch vehicle. I have also speculated that E-16 could have "reverse DBS" or "extended DBS" capability on it which is more likely to happen based on this later 2012 launch date.
  13. Shades228

    Shades228 DaBears

    Mar 18, 2008
    Losing customers always has a short term gain on profit due to reduced spending on SAC. The only time it wouldn't would be in the rare situation that they gained a very large amount of new customers and then still ended up losing. Yould be talking about 4-5% churn levels at that point.

    Dish could lose 60% of it's customers and still be profitible easily with the right management decisions, ie job reductions and reducing spending, however this again starts to throw a shadow on the stock part of the business of can they be profitible in the long term and stay competitive.

    It would take a true doomsday event to happen for Dish to go away completely and even then I think that DirecTV or another company would bail them out in some apect. They could however start another decline that would lead them to not be as big as a player in the market, but that would still be years off barring an extreme situation.
  14. Newshawk

    Newshawk Hall Of Fame

    Sep 3, 2004
    FWIW, just about every McDonald's I've been in here in the Tulsa area has Dish.
  15. DodgerKing

    DodgerKing Hall Of Fame

    Apr 28, 2008
    McDonald's has TV's? Interesting. I have yet to see a single TV in any McDonald's, let alone a provider for these TVs.

    Even so, Dish commercial market is only a small fraction of what Direct and cable has
  16. jacmyoung

    jacmyoung Hall Of Fame

    Sep 8, 2006
    I am actually surprised DISH has managed to add as many new subs as those left. When DISH gradually increased its fees to the point I would spend less with DirecTV than with DISH, and subsequently switched, I thought DISH would be in serious decline. After all, I thought if I found it worth leaving, most everyone else would too:). That was two years ago.

    A lot of bad things had been talked about DISH, it is still where I left it, it is only taking in more profit each quarter it seems. So why bother making any doomsday predictions?
  17. Earl Bonovich

    Earl Bonovich Lifetime Achiever

    Nov 15, 2005
    The three that I frequent here in the area, have DIRECTV.
    It is probably a decision of the Franchise owner, not McDonald's as a corp.
  18. satjay

    satjay AllStar

    Nov 20, 2006
    I was a bit suprised to see our Local Pizza Hut had Dish as there service
  19. phrelin

    phrelin Hall Of Fame DBSTalk Club

    Jan 18, 2007
    I'm not sure how bad losing a net 0.2% of subscribers is. A provider could lose 2.0% of subscribers if they are the right subscribers and actually gain as a business. In this economy, that number looks fine to me. Next quarter likely will also show customer loss due to the Fox sports thing. Again, rabid sports fans probably don't belong on Dish anyway.

    What looks even finer is the profit and loss statements and balance sheets for both Dish and Echostar. Average monthly revenue per subscriber is up 7% over same quarter last year and 1.8% since last quarter.

    Within the framework of profit growth, subscriber acquisition cost is up 14.6% over last year and 7% over last quarter reflecting heavy marketing efforts which is good if it's working and I can't tell about that.

    Anyway, Dish's financials appear to indicate that the company is much better off than back when it was first spun off of Echostar. However, I hope they continue to retain a noticeable portion of current earnings just in case the TiVo lawsuit finally doesn't go their way in ...oh, I don't know... late 2011, early 2012.
  20. Paul Secic

    Paul Secic Hall Of Fame

    Dec 16, 2003
    And some said during the FOX dispute Dish would be bankrupt.

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