Dish Network subscriber growth slows to 14,000 in Q4 2012
Dish Network (Nasdaq: DISH) said it picked up 14,000 subscribers in the fourth quarter, down from the 22,000 it gained in the fourth quarter of 2011.
Revenue dropped by $40,000 to $3.59 billion and the company's net income plummeted by $104 million to $313 million in the quarter. Dish blamed the decreased income on the settlement of a lawsuit it had with Cablevision (NYSE: CVC) and AMC Networks regarding the Voom HD venture, expenses from its litigation with TiVo (Nasdaq: TIVO) and increased programming costs.
The good news: Dish said it ended 2012 with 14.06 million pay TV subscribers, increasing its customer count by 89,000. That's an improvement compared to 2011, when it lost 166,000 video subscribers. Dish said its churn rate for pay TV subscribers decreased to 1.57 percent in 2012, compared to 1.63 percent in 2011.
CEO Joseph Clayton said the company was propelled in 2012 by the rollout of its Hopper multiroom DVR. Dish is scheduled to review its Q4 and 2012 results on a conference call with analysts at 12 p.m. ET, when Clayton and Dish chairman Charlie Ergen will likely field questions about the company's wireless broadband plans and its bid to acquire Clearwire (Nasdaq: CLWR).
- see the earnings release
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