Dish Posts Subscriber Gains
Satellite TV Firm Added Net 241K Subs in Q3, Missed Profit Estimates
by MCN Staff --, 11/9/2009 7:27:36 AM
Dish Network said it added net 241,000 subscribers in the third quarter, a period when the satellite TV providerís total revenue declined 15% year over year and net income declined.
Dish ended September with 13.851 million subscribers. This marks the second consecutive quarter of subscriber gains for the No. 2 satellite TV firm, after a gain of 26,000 in the second quarter. The Q2 gain was the first quarter Dish added net subscribers since the first quarter in 2008, according to Citigroup. Analysts had expected either net losses or a slight subscriber gain this quarter.
Revenue of $2.892 billion was down from $2.937 billion in the same three-month period a year ago. Net income of $81 million was down from $92 million a year ago. Net income is equivalent to 18 cents per share, down from 20 cents a year ago; analyst estimates for this quarter had averaged 44 cents per share.
Dish declared a one-time dividend of $2 per share.
The company has scheduled an earnings call for noon ET today.