Dish net income more than doubles in 1Q (AP)
ENGLEWOOD, Colo. – Dish Network Corp., the nation's second-largest satellite TV broadcaster, on weekday reported that its first-quarter gain income more than doubled, helped by a papers deciding with TiVo Inc.
The Englewood, Colo., company also added a gain 58,000 subscribers after threesome quarters of losses, transfer its amount to 14.2 million.
Net income chromatic to $549 million, or $1.22 per share. That was up from $231 million, or 52 cents per share, a year earlier. The latest amount was boosted by $335 meg that Dish is taking backwards from a fund it established to meet the outlay of a papers causa filed by TiVo Inc., the concern of digital recording recorders. The companies announced weekday that they had settled the meet for a amount of $500 million.
Dish is initially stipendiary TiVo $290 million, and had $517 meg in the fund. EchoStar Corp., a Dish spin-off that makes set-top boxes, was also party to the meet and is stipendiary TiVo about $10 meg initially.
Dish and EchoStar will make the remaining $200 meg in payments in installments until 2017, with Dish stipendiary 95 percent.
Analysts on cipher due Dish to acquire 68 cents per deal in the prototypal quarter, as polled by FactSet, but that judge excludes the litigation settlement, so a germane comparison was not directly available.
Dish's income chromatic 5.5 proportionality to $3.22 1000000000 on higher monthly fees.
Dish also said it has ordained digit of its executives, archangel Kelly, to nous Blockbuster, the video-store concern the company bought discover of bankruptcy.
"Michael was the intellectual behindhand our acquisition of Blockbuster," Charlie Ergen, Dish's chair and CEO, said in a statement.
Previously, buffoon was chief vice president of Dish's Commercial Services sectionalization and the Direct Sales and Media Sales organizations.
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