DISH Network Reports Fourth Quarter, Year-End 2016 Financial Results
ENGLEWOOD, Colo.--(BUSINESS WIRE)--
DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $3.72
billion for the quarter ending Dec. 31, 2016 compared to $3.78 billion
for the corresponding period in 2015.
Net income attributable to DISH Network totaled $343 million for the
fourth quarter 2016, compared to a loss of $125 million from the
year-ago quarter. Diluted earnings per share were $0.70 for the fourth
quarter, compared to a loss of $0.27 cents per share during the same
period of 2015.
DISH includes all of its DISH and Sling branded subscribers in the
company's total Pay-TV metrics, including in the Pay-TV subscriber,
Pay-TV ARPU and Pay-TV churn rate numbers set forth below. Sling TV
subscribers are reported net of disconnects in our gross new Pay-TV
In the fourth quarter, DISH activated approximately 694,000 gross new
Pay-TV subscribers, compared to approximately 661,000 gross new Pay-TV
subscribers in the year-ago period. Net Pay-TV subscribers increased by
approximately 28,000 in the fourth quarter, compared to a loss of
approximately 12,000 in the fourth quarter of 2015.
Full-Year 2016 Review
For the year, DISH reported 2016 total revenue of $15.09 billion
compared to $15.07 billion in 2015. Subscriber-related revenue in 2016
was $15.03 billion, compared to $14.95 billion in 2015.
Net income attributable to DISH Network in 2016 was $1.45 billion
compared to $747 million in 2015. Diluted earnings per share were $3.05
in 2016, compared with $1.61 in 2015.
The company closed the fourth quarter with 13.671 million Pay-TV
subscribers, compared to 13.897 million Pay-TV subscribers in the fourth
quarter of 2015. Our ending Pay-TV subscriber count increased by
approximately 166,000 subscribers during the third quarter 2016 as a
result of the change in our calculation for our commercial
accounts. This had no impact on our gross new Pay-TV subscriber
activations or net Pay-TV subscriber losses for the year ended Dec. 31,
Pay-TV ARPU was $88.66 during 2016 versus $86.79 in 2015. Pay-TV average
monthly subscriber churn for 2016 was 1.83 percent compared to 1.71
percent in 2015.
Detailed financial data and other information are available in DISH
Network's Form 10-K for the year ended Dec. 31, 2016, filed today with
the Securities and Exchange Commission.
DISH Network will host its fourth quarter and full-year 2016 financial
results conference call today at noon ET. The dial-in numbers are (800)
708-3128 (U.S.) and (312) 429-1278.
A webcast replay will be available on DISH's Investor Relations website, http://dish.client.shareholder.com,
today from 6 p.m. to 12 a.m. ET.
DISH Network Corp. (NASDAQ:DISH), through its subsidiaries, provides
approximately 13.671 million pay-TV subscribers, as of Dec. 31, 2016,
with the highest-quality programming and technology with the most
choices at the best value. DISH offers a 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170222005529/en/
DISH Network Corporation
Bob Toevs, 303-723-2010
Jason Kiser, 303-723-2210
Source: DISH Network Corporation
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