Mixed Q4 for DishNet new subs miss targets, revenue in line 2/20/2013 11:27:15 AM Eastern
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
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