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Dish Posts Higher Q4 Sales, Profits

2/26/2008 01:44:00 PM Eastern

Englewood, Colo. — Dish Network, formerly EchoStar Communications Corporation, reported a double-digit increase in fourth quarter revenue and higher profits.

Total revenue for the quarter, ended Dec. 31, 2007, was $2.89 billion, a 12 percent increase compared with $2.58 billion for the corresponding period in 2006.

Net income totaled $175 million for the quarter compared with $153 million during the corresponding period in 2006.

For the year, ended Dec. 31, 2007, Dish reported total revenue of $11.09 billion compared with $9.82 billion for the previous year ended, an increase of 13 percent. Dish’s net income for the year totaled $756 million, compared with $608 million for the prior year.

Dish Network added approximately 85,000 net new subscribers during the quarter, giving the company approximately 13.78 million subscribers as of that date, an increase of 675,000 subscribers compared with the number of subscribers as of Dec. 31, 2006.

Dish Network completed the spin-off of its technology and certain infrastructure assets, including its set-top box business and certain satellites, through the distribution of shares in EchoStar Corporation on Jan. 1, 2008. Following the spin-off, Dish Network retains its pay-TV business. In connection with the spin-off, EchoStar Communications Corporation changed its name to Dish Network Corporation.