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DirecTV, Dish Post Sub Gains, Higher Profits

2/28/2012 05:58:00 PM Eastern

NEW YORK – DirectTV and Dish
Network both reported more subscribers
in their respective quarterly
financials, which also showed higher
net profits for both companies.

DirecTV saw another bump up
in U.S. subscriber totals during the
fourth quarter of 2011, though at a
slower rate than in recent periods,
and it revealed record new additions
in Latin America.

DirecTV reported a net gain of
125,000 U.S. customers, down from
327,000 net additions in the previous
quarter, as its churn rate grew
slightly to 1.52 percent from a year
ago.

Average revenue per U.S. subscriber
rose $4.74, to $101.38.

Net income rose 16 percent to
$718 million, from $618 million a
year earlier, and DirecTV revealed
plans for a new $6 billion share-buyback
program.

According to a Reuters report,
Warren Buffett’s Berkshire Hathaway
increased its position in the
company three weeks ago to a nearly
3 percent stake, making the firm one
of DirecTV’s top 10 shareholders.

Dish Network reported a 22,000
net subscriber gain during the fourth
quarter and a 13 percent increase in
total revenue to $3.63 billion.

The subscriber gains compared
with a 111,000 net subscriber losses
in the third quarter, and resulted,
in part, from heavy promotion of its
Blockbuster Movie Pass bundled
services offering.

Dish acquired the video-rental
chain out of bankruptcy last year and
launched a Blockbuster-branded
streaming service in October.

In total for the year, Dish subscribers
dropped 166,000, to a total of
13.967 million.

The increase in total revenue,
meanwhile, was up from $3.21 billion
from the fourth quarter of 2010.

“Dish delivered a quarter and a year
of strong growth in net income and
total revenue compared to the same
period last year,” stated Joe Clayton,
Dish Network CEO and president.
“By introducing new Blockbusterbranded
services, we’ve begun to
turn the tide in subscriber losses
while continuing to face increased
competitive pressures. We look forward
to the introduction of our new
Hopper product this quarter, the
most technically advanced wholehome
HD DVR in the world.”

Net income totaled $313 million
for the quarter, ended Dec. 31, 2011,
compared with $252 million a year
ago.

For the year, Dish reported total
revenue of $14.05 billion, up 11 percent
from the $12.64 billion registered
in the period a year ago.

Net income for the year totaled
$1.52 billion, compared with $985
million for full year 2010.

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