DISH Network Corporation (Nasdaq:DISH), formerly EchoStar Communications Corporation, reported total revenue of $2.89 billion for the quarter ended Dec. 31, 2007, a 12 percent increase compared with $2.58 billion for the corresponding period in 2006.
Net income totaled $175 million for the quarter ended Dec. 31, 2007, compared with $153 million during the corresponding period in 2006. Basic earnings per share were $.39 for the quarter ended Dec. 31, 2007, compared with basic earnings per share of $.35 during the corresponding period in 2006.
For the year ended Dec. 31, 2007, DISH Network reported total revenue of $11.09 billion compared with $9.82 billion for the year ended Dec. 31, 2006, an increase of 13 percent. DISH Network's net income for the year ended Dec. 31, 2007, totaled $756 million, compared with $608 million for the year ended Dec. 31, 2006. Basic earnings per share were $1.69 for the year ended Dec. 31, 2007, compared with basic earnings per share of $1.37 during the corresponding period in 2006.
DISH Network added approximately 85,000 net new subscribers during the quarter ended Dec. 31, 2007, giving the company approximately 13.78 million subscribers as of that date, an increase of 675,000 subscribers compared to 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."
Detailed financial data and other information are available in DISH Network's Form 10-K for the annual period ended Dec. 31, 2007, filed today with the Securities and Exchange Commission.
About DISH Network
DISH Network Corporation (Nasdaq:DISH) provides more than 13.78 million satellite TV customers with industry-leading customer satisfaction, which has surpassed major cable companies for seven years running. DISH Network customers also enjoy access to a premier line of award-winning Digital Video Recorders (DVRs), hundreds of video and audio channels, the most International channels in the U.S., industry-leading Interactive TV applications, Latino programming, and the best sports and movies in HD. DISH Network offers a variety of package and price options including the lowest all-digital price in America, the DishDVR Advantage Package, high-speed Internet service, and a free upgrade to the best HD DVR in the industry. DISH Network is included in the Nasdaq-100 Index (NDX) and is a Fortune 300 company. Visit www.dishnetwork.com/aboutus or call 1-800-333-DISH (3474) for more information.
DISH Network will host its Fourth Quarter 2007 earnings conference call today at noon ET. The dial-in number is (800) 616-6729.
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