The DISH Network posted higher Q4 profits of $175 million ($.39/share), up 14.4 percent over last year’s $153 million ($.35/share), while revenues grew 12 percent, coming in at $2.89 billion compared to Q406’s $2.58 billion. For 2007 in total, the satellite TV provider’s revenue was $11.09 billion, up 12.9 percent from the previous year’s $9.82 billion. DISH’s net income for the year gained 24.3 percent with $756 million ($1.69/share), compared to 2006’s $608 million ($1.37/share).
In terms of subscribers, DISH, formerly known as EchoStar (NSDQ: DISH), added roughly 85,000 net new subs in Q4, as the company ended the year with 13.78 million total paying customers for an increase of 675,000 over 2006’s numbers.
– Tech Trader Daily: The addition of only 85,000 new subs was far lower than analysts’ estimates of 175,000. Bernstein Research analyst Craig Moffett, whose less optimistic expectation of 148,000 subs was still too high, felt that the struggling housing market was directly responsible for DISH failing to hit previous targets. He sees further troubles for DISH down the road as well, finding that the lack of a broadband option represents a “glaring strategic hole” in the satellite TV provider’s offerings. More details in DISH’s 10-K filing.