Mixed Q4 for Dish

Net new subs miss targets, revenue in line

By Mike Farrell, Multichannel News -- Broadcasting & Cable, 2/20/2013 11:27:15 AM

Dish Network added fewer than expected net new customers in the fourth quarter, but the satellite TV giant was closer to analysts' estimates for financial metrics and disclosed for the first time its broadband customer numbers.

Dish added 14,000 net new customers in the period, well below analysts' consensus estimates of 46,000 additions. For the first time, Dish disclosed its broadband subscriber metrics, adding that it signed up 78,000 dishNET high-speed data customers in the period, bringing its total number of customers to about 183,000. Dish launched dishNET last September.

Revenue at the second largest satellite TV service provider fell 1.2% to $3.59 billion, slightly better than analysts' consensus of $3.56 billion. Net income was down 33.2% to $209 million, or about 44 cents per share, from $313 million in the prior year. However, excluding one-time charges, earnings per share would have been about 50 cents in the quarter, in line with consensus estimates.

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