DISH Network Reports First Quarter 2012 Financial Results
DISH Network Revenues Increased by 11 Percent to $3.58 Billion and Churn Decreased to 1.35%
ENGLEWOOD, CO -- (Marketwire) -- 05/07/12 --
DISH Network Corporation (NASDAQ: DISH) today reported total revenue of $3.58 billion for the quarter ended March 31, 2012, an 11 percent increase compared with $3.22 billion for the corresponding period in 2011.
"DISH delivered a solid quarter for net subscriber growth and financial performance," said DISH CEO and President Joseph Clayton. "I am encouraged by two quarters of net additions, as well as a reduction in churn. The market's reception to the Hopper launch this March was favorable and we think it will be a great platform for the future."
Net income attributable to DISH Network totaled $360 million for the quarter ended March 31, 2012, compared with $549 million during the corresponding period in 2011. Net income for the first quarter 2011 was favorably impacted by the reversal of previously accrued expenses related to the settlement agreement with TiVo, while net income for the first quarter 2012 was positively impacted by a gain related to the conversion of the DBSD Senior Secured Notes upon the completion of that transaction in March.
DISH Network gained approximately 104,000 net subscribers during the quarter compared to approximately 58,000 additions in the first quarter of 2011. DISH Network ended the latest quarter with approximately 14.071 million subscribers.
Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarterly period ended March 31, 2012, filed today with the Securities and Exchange Commission.
DISH Network will host its first quarter 2012 financial results conference call today at noon ET. The dial-in number is (800) 616-6729.
About DISH Network
DISH Network Corporation (NASDAQ: DISH), through its subsidiary DISH Network L.L.C., provides approximately 14.071 million satellite TV customers, as of March 31, 2012, with the highest quality programming and technology 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 Corporation is a Fortune 200 company. Visit www.dish.com.
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Source: DISH Network
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