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DISH Network Reports Third Quarter 2013 Financial Results


 DISH Network Corporation reported revenue totaling $3.60 billion for the quarter ending Sept. 30, 2013, compared to $3.52 billion for the corresponding period in 2012. Subscriber-related revenue increased 6.1 percent to $3.47 billion from $3.27 billion in the year-ago period.

Net income attributable to DISH Network totaled $315 million for the quarter ending Sept. 30, 2013, compared to a net loss of $158 million from the year-ago quarter. Diluted earnings per share were $0.68, compared with a net loss per share of $0.35 during the same period in 2012.

Pay-TV ARPU for the third quarter totaled $81.05 compared to the year-ago period's pay-TV ARPU of $76.99. Pay-TV subscriber churn rate decreased to 1.66 percent versus 1.80 percent for third quarter 2012.

Total pay-TV customers increased by 35,000 in the quarter. DISH closed the third quarter with 14.049 million pay-TV subscribers compared to 14.042 million pay-TV subscribers at the end of third quarter 2012. DISH added approximately 734,000 gross new pay-TV subscribers compared to approximately 739,000 gross new pay-TV subscribers in the prior year's third quarter.

DISH added approximately 75,000 net broadband subscribers in the third quarter, bringing its broadband subscriber base to approximately 385,000, a 24 percent increase sequentially. DISH added approximately 17,000 net broadband subscribers in the third quarter 2012.

Year-to-Date Review
For the first nine months of 2013, DISH Network's revenues of $10.76 billion increased 1 percent over $10.68 billion in revenue from the same period last year. Subscriber-related revenue increased 5 percent to $10.28 billion from $9.79 billion for the first nine months of 2012. Year to date, net income attributable to DISH Network totaled $519 million compared with $428 million during the same period last year. Diluted earnings per share were $1.13 for the first nine months of 2013, compared with $0.95 during the same period in 2012.

Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarter ended Sept. 30, 2013, filed today with the Securities and Exchange Commission.