Dish Network (Nasdaq: DISH) has accomplished what most, if not all, cable operators have been unable to do: it made money and it gained subscribers. The number two satellite provider said that its quarterly total revenue of $3.22 billion was 5 percent higher than a year ago and that it gained 58,000 subscribers to bring its total number to 14.191 million subs.
Dish said its net income for the period was $549 million compared to $231 million during the same period last year and that earnings per share were $1.22 compared to 52 cents in 2010.
Also, Dish named Michael Kelly president of its Blockbuster subsidiary. Kelly, who was previously executive vice president of Dish Network's Commercial Services division "was the visionary behind our acquisition of Blockbuster," Dish Chairman-CEO Charlie Ergen said in a news release. "His leadership will be key to returning Blockbuster to profitability."
- see this news release
- and this news release
Dish Network, DirecTV earnings fly high in third quarter
Dish's Ergen: Use rifle, not shotgun, to acquire subscribers
Dish-Blockbuster deal gets DoJ, FTC approval