DIRECTV Announces Fourth Quarter and Full Year 2011 Results

DIRECTV Adds 715,000 Net Additions in the Quarter Driven by DIRECTV Latin America’s All-Time Quarterly Record of 590,000; DIRECTV adds 3.7 million new subscribers in 2011 including Sky Mexico.

EL SEGUNDO, Calif. — DIRECTV (NASDAQ:DTV) today reported increases in fourth quarter 2011 revenues of nearly 13% to $7.46 billion, operating profit before depreciation and amortization (OPBDA) of 6% to $1.78 billion and operating profit of 14% to $1.21 billion compared to last year’s fourth quarter. DIRECTV also reported that fourth quarter net income increased 16% to $718 million while diluted earnings per share grew 38% to $1.02 compared with the same period last year.

DIRECTV U.S. Segment

DIRECTV U.S. ended the quarter with 19.89 million subscribers, an increase of 3% over the 19.22 million subscribers reported for the year ended December 31, 2010.

Subscriber Data (in 000’s except Churn)

                                          Three Months       Twelve Months
                                    Ended December 31,  Ended December 31,
                                    ------------------  ------------------
                                      2011        2010    2011        2010
                                    ------      ------  ------      ------             
Gross Subscriber Additions           1,030       1,116   4,316       4,124
Average Monthly Subscriber Churn     1.52%       1.44%   1.56%       1.53%
Net Subscriber Additions               125         289     662         663
Cumulative Subscribers              19,885      19,223  19,885      19,223

DIRECTV Latin America Segment

DIRECTV Latin America owns approximately 93% of Sky Brazil, 41% of Sky Mexico and 100% of PanAmericana, which covers most of the remaining countries in the region. Sky Mexico, whose results are accounted for as an equity method investment and therefore is not consolidated by DTVLA, had approximately 4.01 million subscribers as of December 31, 2011 bringing the total subscribers in the region to 11.88 million at the end of the fourth quarter of 2011.

Subscriber Data (in 000’s except Churn)

                                                  Three Months       Twelve Months
                                            Ended December 31,  Ended December 31,
                                            ------------------  ------------------
                                              2011        2010    2011        2010
                                            ------      ------  ------      ------       
Gross Subscriber Additions                     965         639   3,510       2,318
Average Monthly Total Subscriber Churn       1.65%       1.55%   1.78%       1.77%
Average Monthly Post-paid Subscriber Churn   1.42%       1.37%   1.42%       1.47%
Net Subscriber Additions                       590         378   2,063       1,220
Cumulative Subscribers                       7,871       5,808   7,871       5,808

DIRECTV Latin America subscriber data exclude subscribers of the Sky Mexico service.