DISH Network Reports Fourth Quarter and Year End 2011 Financial Results

Thursday, February 23rd, 2012 
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In Fourth Quarter, DISH Network Revenues Grow by 13 Percent to $3.63 Billion and Net Income Increases 24 Percent to $313 Million

ENGLEWOOD, CO — DISH Network Corporation (NASDAQ: DISH) today reported total revenue of $3.63 billion for the quarter ended Dec. 31, 2011, a 13 percent increase compared with $3.21 billion for the corresponding period in 2010.

“DISH delivered a quarter and a year of strong growth in net income and total revenue compared to the same period last year,” said Joe Clayton, president and CEO of DISH Network. “By introducing new Blockbuster-branded services, we’ve begun to turn the tide in subscriber losses while continuing to face increased competitive pressures. We look forward to the introduction of our new Hopper™ product this quarter, the most technically advanced whole-home HD DVR in the world.”

Net income attributable to DISH Network totaled $313 million for the quarter ended Dec. 31, 2011, compared with $252 million during the corresponding period in 2010. Diluted earnings per share were $0.70 for the quarter ended Dec. 31, 2011, compared with $0.56 during the corresponding period in 2010.

For the year ended Dec. 31, 2011, DISH Network reported total revenue of $14.05 billion compared with $12.64 billion for the year ended Dec. 31, 2010, an increase of 11 percent. Net income attributable to DISH Network for the year ended Dec. 31, 2011, totaled $1.52 billion, compared with $985 million for the year ended Dec. 31, 2010. Diluted earnings per share were $3.39 for the year ended Dec. 31, 2011, compared with $2.20 during the corresponding period in 2010.

DISH Network gained approximately 22,000 net subscribers during the quarter ended Dec. 31, 2011, giving the company approximately 13.967 million subscribers at year-end. DISH Network’s net subscribers decreased by approximately 166,000 for the full year ended Dec. 31, 2011.

Detailed financial data and other information are available in DISH Network’s Form 10-K for the annual period ended Dec. 31, 2011, filed today with the Securities and Exchange Commission.