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.