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Dish Network Q2 Sales, Profits Grow

8/09/2011 03:59:02 PM Eastern

Englewood, Colo. - Dish Network reported double-digit
increases in revenue and net income during the second quarter.

Revenue totaled $3.59 billion for the quarter, ended June 30,
a 13.3 percent increase, compared with $3.17 billion for the corresponding
period in 2010. 

Net income was $335 million for the quarter, a 30.3 percent
increase when compared with $257 million during the same period last year. However,
Dish Network's net subscribers decreased by approximately 135,000 during the
second quarter, to approximately 14.06 million subscribers.

"Dish Network delivered another quarter of strong growth in
revenue and net income," said Joe Clayton, president and CEO of Dish Network in
a statement.

"The second quarter was also marked by several other
achievements, including our purchase of most of the Blockbuster assets,
settlement of the TiVo litigation, and renewal of a multiyear partnership with
Frontier Communications, offering Dish Network's digital TV entertainment to
Frontier's nearly 4 million customers in 27 states. Our decrease in net
subscribers was primarily due to increased competitive pressures, including
higher levels of discounting."

Clayton added, "As we look forward to the second half of the
year, we will focus on commercializing our technology, re-energizing our
distribution channels and strengthening our brand image. We continue to offer
the best value to consumers with the lowest everyday prices, in part by
freezing prices through January 2013."

Dish Network said its first-half revenues of $6.81 billion
increased 9.4 percent over the same period last year primarily due to
programming package price increases in early 2011.