DISH Network Announces Third Quarter 2011 Financial Results
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ENGLEWOOD, CO, Nov 07 (MARKET WIRE) --
DISH Network Corporation (NASDAQ: DISH) today reported its third quarter
2011 financial results.
Revenue totaled $3.60 billion for the quarter ended Sept. 30, 2011, a
12.3 percent increase compared with $3.21 billion for the corresponding
period in 2010. Net income attributable to common shareholders totaled
$319 million for the quarter ended Sept. 30, 2011, a 30.3 percent
increase compared with $245 million during the same period last year.
Diluted earnings per share were $0.71 for the third quarter, compared
with $0.55 during the same period in 2010. DISH Network's net subscribers
decreased by approximately 111,000 during the third quarter, and the
company ended Sept. 30, 2011, with approximately 13.945 million
subscribers.
"DISH delivered another quarter of strong growth in net income compared
to the same period last year," said Joe Clayton, president and CEO of
DISH Network. "Our net subscriber loss improved over the second quarter
of this year but continued to be affected by increased competitive
pressures, including aggressive competitive promotional offers,
discounting and a weak housing market. Going forward, we plan to build on
the momentum of our introduction of the Blockbuster-branded programming
service which allows DISH customers to stream movies and TV shows as well
as receive DVDs by mail."
Detailed financial data and other information are available in DISH
Network's Form 10-Q for the quarterly period ended Sept. 30, 2011, filed
today with the Securities and Exchange Commission.
DISH Network will host its third quarter 2011 financial results
conference call today at noon ET. The dial-in number is (800) 616-6729.
Non-Recurring Dividend
On Nov. 1, 2011, DISH Network Corporation's Board
of Directors declared a non-recurring dividend of $2.00 per share on
outstanding Class A and Class B common stock. The dividend will be
payable in cash on Dec. 1, 2011, to shareholders of record on Nov. 17,
2011.
About DISH Network
DISH Network Corporation (NASDAQ: DISH), through its
subsidiary DISH Network L.L.C., provides approximately 13.945 million
satellite TV customers, as of Sept. 30, 2011, with the highest quality
programming and technology with the most choices 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's
subsidiary, Blockbuster L.L.C., delivers family entertainment to millions
of customers around the world. DISH Network Corporation is a Fortune 200
company. Visit www.dish.com.
Contacts
Investor Relations:
Jason Kiser
Jason.Kiser@dish.com
303-723-2210
Press:
Marc Lumpkin
marc.lumpkin@dishnetwork.com
303-723-2010
Copyright 2011, Market Wire, All rights reserved.
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