DISH Network Reports First Quarter 2017 Financial Results
DISH Network Corporation (DISH) today reported revenue totaling
$3.68 billion for the quarter ending March 31, 2017, compared to $3.83
billion for the corresponding period in 2016. Subscriber-related revenue
for the quarter totaled $3.64 billion, compared to $3.78 billion in
subscriber-related revenue for the year-ago period.
Net income attributable to DISH Network totaled $376 million for the
quarter ending March 31, 2017, compared to net income of $400 million
from the year-ago quarter. Diluted earnings per share for the quarter
ending March 31, 2017 were $0.76, compared with $0.86 during the same
period in 2016.
During the first quarter, DISH completed a transaction with EchoStar
Corporation that transferred certain EchoStar assets and operations to
DISH in exchange for DISHs 80 percent economic interest in the Hughes
Retail Group that was held in the form of a tracking stock. As the
transaction was between entities that are under common control,
accounting rules require that the results of the transferred assets and
operations be included in our financial statements for all periods
presented, including periods prior to the completion of the transaction.
This adjustment had no impact on our gross new Pay-TV or broadband
subscriber activations, net Pay-TV or broadband subscriber losses or
Pay-TV churn rate for all periods presented.
DISH includes all of its Sling TV subscribers in the companys total
Pay-TV metrics, including in the Pay-TV subscriber, Pay-TV ARPU and
Pay-TV churn rate numbers set forth below. Sling TV subscribers are
reported net of disconnects in our gross new Pay-TV subscriber
In the first quarter, DISH activated approximately 547,000 gross new
Pay-TV subscribers, compared to approximately 657,000 gross new Pay-TV
subscribers in the prior years first quarter. Net Pay-TV subscribers
declined approximately 143,000 in the first quarter, compared to a
decline of approximately 23,000 in the first quarter 2016.
The company closed the first quarter with 13.528 million Pay-TV
subscribers, compared to 13.874 million Pay-TV subscribers at the end of
first quarter 2016.
Pay-TV ARPU for the first quarter totaled $86.55, compared to the
year-ago periods Pay-TV ARPU of $87.94. Pay-TV subscriber churn rate
was 1.69 percent versus 1.63 percent for first quarter 2016.
DISH lost approximately 25,000 net broadband subscribers in the first
quarter, bringing its broadband subscriber base to approximately 555,000.
Detailed financial data and other information are available in DISH
Networks Form 10-Q for the quarter ended March 31, 2017, filed today
with the Securities and Exchange Commission.
DISH Network will host its first quarter 2017 financial results
conference call today at noon ET. Participant conference numbers: (888)
394-8218 (U.S.) and (719) 457-1036, Conference ID: 8074221
A webcast replay will be available on DISHs Investor Relations website, http://dish.client.shareholder.com,
today from 6 p.m. to 12 a.m. ET.
DISH Network Corp. (DISH), through its subsidiaries, provides
approximately 13.528 million pay-TV subscribers, as of March 31, 2017,
with the highest-quality programming and technology with the most
choices at the best value. DISH offers a high definition line-up with
more than 200 national HD channels, the most international channels and
award-winning HD and DVR technology. DISH Network Corporation is a
Fortune 200 company. Visit www.dish.com.
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SOURCE: DISH Network Corporation">
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Jason Kiser, 303-723-2210