DIRECTV 2011 Annual Report Download - page 55

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DIRECTV
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF could cause our actual results to differ may occur and it is not possible for us to
FINANCIAL CONDITION AND RESULTS OF OPERATIONS predict them all. We undertake no obligation to publicly update any forward-
looking statement, whether as a result of new information, future developments or
otherwise, except as required by law.
CAUTIONARY STATEMENT FOR PURPOSE OF THE
‘‘SAFE HARBOR’’ PROVISIONS OF THE PRIVATE SECURITIES CONTENTS
LITIGATION REFORM ACT OF 1995
The following is a discussion of our results of operations and financial
This Annual Report on Form 10-K may contain certain statements that we condition. This discussion should be read in conjunction with the consolidated
believe are, or may be considered to be, ‘‘forward-looking statements’’ within the financial statements and related notes included elsewhere in this Annual Report.
meaning of various provisions of the Securities Act of 1933 and of the Securities Information in this section is organized as follows:
Exchange Act of 1934. These forward-looking statements generally can be identified
by use of statements that include phrases such as we ‘‘believe,’’ ‘‘expect,’’ ‘‘estimate,’’ • Summary Results of Operations and Financial Condition
‘‘anticipate,’’ ‘‘intend,’’ ‘‘plan,’’ ‘‘foresee,’’ ‘‘project’’ or other similar references to • Significant Events Affecting the Comparability of the Results of Operations
future periods. Examples of forward-looking statements include, but are not limited
to, statements we make related to our business strategy and regarding our outlook • Executive Overview and Outlook
for 2012 financial results, liquidity and capital resources. • Results of Operations
Forward-looking statements are based on our current expectations and • Liquidity and Capital Resources
assumptions regarding our business, the economy and other future conditions.
Because forward-looking statements relate to the future, they are subject to inherent • Contractual Obligations
uncertainties, risks and changes in circumstances that are difficult to predict. Our • Off-Balance Sheet Arrangements
actual results may differ materially from those contemplated by the forward-looking
statements. We caution you therefore against relying on any of these forward- • Contingencies
looking statements. They are neither statements of historical fact nor guarantees or • Certain Relationships and Related-Party Transactions
assurances of future performance. Important factors that could cause actual results
to differ materially from those in the forward-looking statements include economic, • Critical Accounting Estimates
business, competitive, national or global political, market and regulatory conditions • Accounting Changes and New Accounting Pronouncements
and other risks, each of which is described in more detail in Item 1A—Risk Factors
of this Annual Report. • Key Terminology
Any forward looking statement made by us in this Annual Report on
Form 10-K speaks only as of the date on which it is made. Factors or events that
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