Dish Network’s profits jump 64%

May 26, 2008 3:57 pm admin Dish Network

Profits soared by 64 percent for satellite broadcaster Dish Network Corp. in its first quarter based mainly on more revenue from a record number of subscribers, the company reported Monday.

Englewood-based Dish (NASDAQ: DISH) reported a $258.6 million profit, or 58 cents per share, on $2.8 billion in first-quarter revenue, compared to $157.1 million, or 35 cents per share, on $2.6 billion revenue from the first quarter of 2007.

Dish hit a record 13.8 million subscribers in the quarter, increasing the number of customers 3 percent over the past year despite increased customer turnover. The company also reported increasing the average monthly revenue per-customer by $3.76, or 5.9 percent, raising that average from $64.13 to $67.93 per month.

The company also reported lower costs for administration and for acquiring new subscribers.

The company, formerly part of EchoStar Communications, split apart from its sister company, EchoStar Corp. (NASDAQ: SATS), at the start of 2008.