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[Satellite TODAY 05-08-12] U.S. satellite pay-TV operator Dish Network grew its 2012 first quarter revenues 11 percent year-over-year, reaching $3.58 billion for the quarter while reducing its churn to 1.35 percent, according to the company’s latest financial results issued May 7.
The operator gained approximately 104,000 net subscribers during the quarter compared with approximately 58,000 additions in the first quarter of 2011. Dish Network ended the 2012 first quarter with about 14 million subscribers.
Dish Network’s net income decreased from $549 million in the 2011 first quarter to $360 million in 2012 despite the favorable impact made by gains related to the conversion of subsidiary DBSD’s senior debt in a March 2012 transaction.
“Dish delivered a solid quarter for net subscriber growth and financial performance,” Dish Network CEO and President Joseph Clayton said in a statement. “I am encouraged by two quarters of net additions, as well as a reduction in churn. The market’s reception to the Hopper launch this March was favorable and we think it will be a great platform for the future.”
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